Coming Soon: Federal QR Codes?

Thanks to a major overhaul of the US banking system taking place today, a QR code just like this one could soon be mandatory for millions of Americans and it has the backing of the White House, Federal Reserve and Treasury. What changes do these powerful organizations have planned for your money?

The No. 1 Crypto for 2024

A Railroad Stoppage Before Christmas Could Cause Over $2 Billion In Economic Damage, Driving Inflation Even Higher

Robert Kuczmarski
November 28, 2022

In September, the nation's largest rail unions began negotiating with rail companies to establish better schedules, more pay and paid sick time for its track maintenance workers.

Now, four out of the 12 rail unions are yet to ratify the tentative agreements, as SMART - Transportation Division (SMART-TD), one of the largest railroad labor unions, rejected ratification on Nov. 21.

What Happened: SMART-TD, Brotherhood of Maintenance of Way Employees (BMWED) and the Brotherhood of Railroad Signalmen (BRS) represent more than 50% of all rail labor.

The International Brotherhood of Boilermakers (IBB), BRS and BMWED are set to vote to ratify the tentative agreement on Dec. 4, with a strike deadline that could start on Dec. 9.

According to the Association of American Railroads, a nationwide rail shutdown could cost more than $2 billion every day in lost economic output.

If the strike does in fact take place, a nearly 140,000-mile network of rails in 49 states and more than 7,000 long-distance Class I trains per day would be idled, which could be devastating to the transportation industry and the U.S. economy during the holiday season.

Also Read: Andrew Carnegie Is Born On This Day In Market History

Why It Matters: If a railway strike does take place, the U.S. would need an additional 467,000 long-haul trucks per day to move all the railroad freight and roughly 80,000 more truck drivers, according to the report.

The American Chemistry Council stated the chemical industry is a $517 billion enterprise that supports more than 25% of U.S. GDP and creates more than half a million American jobs, which would be deeply affected by a railroad shutdown.

A letter sent on Sept. 7 from the Fertilizer Institute (TFI) to Speaker of the House Nancy Pelosi, Majority Leader Chuck Schumer, Senate Minority Leader Mitchell McConnell and House Minority Leader Kevin McCarthy stated, “Over half of all fertilizer moves by rail year-round throughout the United States and the timeliness and reliability of fertilizer shipments is absolutely critical,” adding that, “If farmers do not receive fertilizer, it results in lower crop yields, higher food prices, and more inflation for consumers.”

Firms such as United Parcel Service, Inc. (NYSE:UPS) and FedEx Corporation (NYSE:FDX) also rely on railroads to ship freight and could also experience slowdowns and price hikes.

The Union Pacific Corporation (NYSE:UNP) CEO Lance Fritz said on CNBC that its BMWED employees were not completely aware of the terms of the agreement in the first vote and he is confident a new agreement can be made.

Fritz said this does not mean a strike was not possible, but he does think a strike is less probable.

In August, President Joe Biden released the framework for the tentative deal formed in September between major carriers such as Union Pacific and a dozen unions representing 115,000 workers, reported Reuters. On Monday, more than 400 groups called on the U.S. Congress to intervene in the railroad labor strike that could drive inflation higher and cause significant economic damage to the economy.

A railroad labor stoppage would also negatively impact Norfolk Southern Corp (NYSE:NSC) and CSX Corporation (NASDAQ:CSX), which rely on domestic transportation

Photo: Unsplash

Continue Reading...

Popular

Donald Trump Jr. Wants A VP 'Fighter' Who Can 'Take Hits,' 3 Names Are On His List

In the lead-up to the 2024 presidential race, former President Donald Trump's son Donald Trump Jr. is advocating for a "fighter" to

'You're About To Get A Sale' On Nvidia: Jim Cramer Shares Insight On Buying During Pullbacks

CNBC's "Mad Money" host Jim Cramer encouraged investors to view potential market pullbacks as opportunities rather than threats. He suggested that a pullback could be on the horizon and advised investors to prepare by raising some cash.

This Masterclass Will Redefine Your Approach to Crypto Trading - Ad

Whether you're a seasoned trader or new to crypto, this method is designed for all, requiring no previous experience or in-depth knowledge of the crypto market. Don't miss out -- spots are filling rapidly for this once-in-a-lifetime event.

'Heroes' scrambled to stop traffic before Baltimore bridge collapsed; construction crew feared dead

BALTIMORE (AP) — It was the middle of the night when a dispatcher’s 12-second warning crackled over the radio: A massive cargo ship had lost its steering capabilities and was heading toward .

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years - Ad

Three of the world's biggest AI companies -- Google, Nvidia and Intel -- have even partnered with my No. 1 Imperium company to get on this massive mega trend. The average investor hasn't caught on yet, but you can still invest in my No. 1 Imperium company for just $10 a share.

France's Macron tells Brazilian execs that prospective Mercosur-EU deal is 'terrible' and outdated

SAO PAULO (AP) — French President Emmanuel Macron told Brazilian executives on Wednesday that a proposed deal between the European Union and the South American trade bloc Mercosur is bad for both parties.

US changes how it categorizes people by race and ethnicity. It's the first revision in 27 years

ORLANDO, Fla. (AP) — For the first time , the U.S. government is changing by race and ethnicity, an effort that federal officials believe will more accurately count residents who identify as Hispanic and of Middle Eastern and North African heritage.

My No. 1 Oil Play for 2024 - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

Wall Street's Most Accurate Analysts Say Hold These 3 Tech And Telecom Stocks Delivering High-Dividend Yields

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

On Location at My No. 1 A.I. Stock Pick - Ad

In this video, I go on location to share the name, ticker symbol, and story behind my #1 A.I. stock pick. I can almost guarantee you've never heard of this company -- but soon you, your friends, and your family will likely all be using it.

Top 2 Real Estate Stocks That May Rocket Higher In March

The most oversold stocks in the real estate sector presents an opportunity to buy into undervalued companies.

EV Owners May Have Bigger Cool Factor, But Their Tires Are Literally Tiring Them Out More Than Gas Car Drivers

The report highlights that EV tires wear out faster due to greater vehicle weight and higher torque. However, EV owners are often unaware of these performance differences.

The Next Big Leap in AI: "IMPERIUM" - Ad

Bill Gates, Jeff Bezos, and Mark Zuckerberg are pouring millions into it. (Gates even tweeted it's "one of the most powerful technologies of the 21st century!") And you can invest in this new technology, which we call Imperium, right alongside them ... starting with just $10.

"Titan of Tech" Bets Big on Tiny AI Company - Ad

He's made as much as 3,250,000% in just three years on companies like Facebook, Airbnb, and PayPal... But our research shows his latest investment could be his most successful venture yet. See how you can invest alongside him (with a starting stake of just $25). But you'll want to do it between now and May 5th.

US To Unveil List Of Chinese Chip Factories Banned From Receiving Key Tech: Report

The United States is reportedly preparing to release a list of Chinese chipmaking facilities that will be prohibited from receiving crucial tools, a move that could significantly impact the global semiconductor industry.

Ken Buck, A Thorn In The Side Of GOP Leadership, Deals Final Blow Before Leaving Congress

Rep. Ken Buck (R-Colo.) signed a Democratic discharge petition for foreign aid, marking a significant shift in the Republican stance on the issue.

$1k/Day in Crypto - Witness the Proven Strategy Now - Ad

Ever heard of those rare, almost mythical 100x, 200x or even 300x+ returns in the crypto world? Usually, they're the stuff of luck, hinging on choosing the right altcoin at the perfect moment. But what if there was a systematic, predictable way to achieve outsized returns in crypto?

US Companies In Japan Wary On Market Intervention As Yen Hits 34-Year Low Vs. Dollar

The Japanese yen fell Wednesday to a 34-year low against the dollar, which is a boon for exporters, but imports are more expensive.

Jim Cramer Sees Opportunity In Palo Alto Networks After Stock Is 'Overly Punished' In 2024

Jim Cramer noted that Palo Alto Networks had been "overly punished" this year and that he is considering buying more shares of the company.

The No. 1 Crypto for 2024 - Ad

It's expected to soar 20X bigger than Bitcoin.

Investment Bank Piper Sandler Removes Nvidia From Model Portfolio, Anticipating S&P 500 Correction: 'Cool The Engines'

While other firms have raised their year-end S&P 500 targets following the recent rally, Piper Sandler maintains its target of 5,050, implying a roughly 3% downside from Tuesday's closing level.

Top 2 Tech And Telecom Stocks Which Could Rescue Your Portfolio This Month

The most oversold stocks in the communications services sector presents an opportunity to buy into undervalued companies.

Regime Change At Federal Reserve? - Ad

The Fed just began the rollout of a new technology that'll "shake the US financial system". It'll likely go down in history as the biggest change to money since Western Union launched its "lightning lines" in the early days of the telegraph.

Elon Musk Wants Supreme Court To Overturn 'Outrageous' Fine Imposed On President Trump In New York

Elon Musk agreed that the Supreme Court should overturn the "outrageous" fine imposed on Donald Trump in an ongoing trial in New York.

Amazon pours an additional $2.75 billion into AI startup Anthropic

NEW YORK (AP) — Amazon said Wednesday it is pouring an additional $2.75 billion into Anthropic, bringing its total investment in the artificial intelligence startup to $4 billion.

Put $20 in This Coin Before April 19, 2024 - Ad

The entire crypto market is going to experience a lucrative event on April 19th, 2024. And one coin is set to soar 20X bigger than Bitcoin.

Visa, Mastercard settle long-running antitrust suit over swipe fees with merchants

NEW YORK (AP) — Visa and MasterCard announced a settlement with U.S. merchants related to swipe fees that could potentially save American shoppers tens of billions of dollars.

Binance executive detained in Nigeria amid a crypto crackdown has escaped custody

KADUNA, Nigeria (AP) — An executive of cryptocurrency exchange Binance has escaped custody in Nigeria, where a criminal investigation has been launched against the platform accused of being used for money laundering, authorities said Monday.

Billionaire Tech Investor - How He Got Rich - Ad

He's already made gains of 200,000% ... 499,000% ... and even 3,250,000% on tech startups over the last two decades. Now, he's invested in a stock few people have heard of, which is trading for just $25 a share. See how you can invest alongside him (but you'll want to do it between now and May 5th.

Arista Networks former chairman agrees to pay nearly $1M to settle insider trading charges

The founder and former chairman of technology company Arista Networks has agreed to pay almost $1 million to settle insider trading charges.

Super-Billionaire Goes All-in on $3 A.I. Stock - Ad

I've been pounding the table on this $3 A.I. stock for weeks now. I believe we'll soon talk about this little-known stock in the same way we talk about Amazon, Tesla, and Nvidia now. This is without a doubt my #1 recommendation to buy today.

Vietnamese automaker VinFast to start selling EVs in Thailand

BANGKOK (AP) — Vietnamese automaker VinFast announced Tuesday that it plans to sell its electric vehicles in Thailand and said it had tied up with auto dealers to open showrooms in the country.

Wisconsin Supreme Court lets ruling stand that declared Amazon drivers to be employees

MADISON, Wis. (AP) — The Wisconsin Supreme Court on Tuesday a lower court ruling that declared some delivery drivers for Amazon were employees as the state argued, not independent contractors as the online retail giant contended.

The No. 1 AI Stock of 2024 (Not Nvidia) - Ad

It's not Nvidia, Meta Platforms, Alphabet, or Amazon. But thanks to a recent major deal, an under-the-radar stock could become the No. 1 winner of the AI boom. "This company just teamed up with one of the biggest power players in the AI industry... yet you can still buy it for just one-twelfth the price of Nvidia -- the time to buy is NOW," says Marc Chaikin.

A Delta flight was cut short after a panel behind one of the engines fell off during takeoff

A flight over the weekend was cut short and the plane returned to Salt Lake City after a panel behind one of the two engines fell off during takeoff.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright activatrade.ca
Privacy Policy | Terms of Service