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The Masked Tulip

400 Million A Day

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They reckon the tube/bus driver strike in New York - they are striking for higher wages and better pensions - is costing NY 400 million bucks a day. Wow!

If this demand - they are bound to get it - is not inflation inducing I don't know what is. Once the bus/tube drivers get what they want expect to see others in the US demand the same.

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New York Transport Strike Strands Millions

New York's mass transit system, the largest in the US, was hit by its first strike in a quarter-century, stranding seven million people in the December cold.

As negotiations remained stalled a judge imposed a £570,000-a-day fine against the striking union.

State Supreme Court Justice Theodore Jones levelled the sanction against the Transport Workers Union for violating state law by going on strike.

Attorneys for the city and state had asked Jones to hit the union with a "very potent fine" for ignoring the law.

"This is a very, very sad day in the history of labour relations for New York City," Jones said in imposing the fine.

The union vowed to immediately appeal, calling it an excessive fine.

The draconian penalty could force the union off the picket lines and back on the job. Its 33,000 members are already facing individual fines of two days pay for every day they are on strike.

The union, who have failed to reach agreement on a new contract, said the latest offer included annual raises of three per cent, four per cent and 3.5 per cent; the previous proposal included three per cent raises each year.

Pension issues were another major sticking point in the talks, particularly involving new employees.

Union head Roger Toussaint said the union wanted a better offer

http://channels.aolsvc.co.uk/news/article....n&p=news&c=news

Note: Link will only work for AOL subscribers. Sorry.

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They reckon the tube/bus driver strike in New York - they are striking for higher wages and better pensions - is costing NY 400 million bucks a day. Wow!

If this demand - they are bound to get it - is not inflation inducing I don't know what is. Once the bus/tube drivers get what they want expect to see others in the US demand the same.

Right, so a transit strike in NY is going to lead to increasing inflation in the US leading to higher interests rates in the UK leading to HPC. Right.

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Right, so a transit strike in NY is going to lead to increasing inflation in the US leading to higher interests rates in the UK leading to HPC. Right.

If they get the rises they demand then other US unions and workforces will demand the same increases - this is how things work. That push up prices will pushes up inflation. Nothing complicated about it.

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If they get the rises they demand then other US unions and workforces will demand the same increases - this is how things work. That push up prices will pushes up inflation. Nothing complicated about it.

Thanks for the explanation, I wish I was bright enough to understand the linkage myself.

Nevertheless, the impact of this strike on UK house prices will be very close to zero.

Edited by BoredTrainBuilder

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Thanks for the explanation, I wish I was bright enough to understand the linkage myself.

Nevertheless, the impact of this strike on UK house prices will be very close to zero.

that's right, because we can lower our rates next year, whilst the rest of the world raise theirs, because our economy is not affected by world events...

right

right

right

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that's right, because we can lower our rates next year, whilst the rest of the world raise theirs, because our economy is not affected by world events...

right

right

right

Classic HPC delusion, magnifying every microeconomic event, every flap of a butterfly's wings, into global cataclysm or if not that then at least a UK HPC. Do 100 lines:

A transit strike in NYC will not affect UK house prices

A transit strike in NYC will not affect UK house prices

etc.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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