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The Pomp Podcast
#1417 Phil Rosen & Anthony Pompliano | ALERT: US ECONOMY HELD HOSTAGE
Oct 3, 2024
49:43
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Phil Rosen, co-founder of Opening Bell Daily, and Anthony Pompliano, author and CEO of Professional Capital Management, tackle pressing economic issues. They delve into the implications of dock worker strikes and compare the salaries of blue-collar jobs versus Ivy League graduates. The duo also explores the contrasting performances of Bitcoin and gold as safe havens amid economic storms, and they discuss the civility showcased in a recent VP debate, emphasizing the importance of humility in leadership.
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Quick takeaways
- The ongoing dock worker strike significantly disrupts the economy by costing approximately $4 billion daily and threatens inflation and job stability.
- Bitcoin's recent price fluctuations reflect its volatility and emerging role as a potential safe haven asset amidst global conflicts.
Deep dives
Impacts of the Dock Worker Strike
The ongoing dock worker strike poses significant threats to the economy, impacting inflation, job markets, and holiday shopping. With thousands of longshoremen on strike, the closure of 36 ports is costing the economy approximately $4 billion daily, revealing the disruption’s vast scale. Workers are demanding a 77% pay raise and a ban on automation, sparking a debate on wage fairness, as some dock workers earn more than doctors in New York. The situation highlights broader issues of union influence over market dynamics and a looming competition between skilled labor and advancing technology.
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