http://www.huffingtonpost.com/james-...b_2240509.html
But has it really a-billion-dollar-a-day bad?
Not according to international trade economist Jock O'Connell, who says he's likely the source of that poorly-contextualized estimate.
KPCC reporter Ben Bergman actually bothered to do his homework. Turns out O'Connell had mentioned in an early-days strike story the ports handled about a billion dollars worth of materials a day -- which isn't at all the same thing as costing our economy that same amount.
"That was not what I meant. Clearly the billion dollars or so of cargo that would have moved through the port had it been open is not going be dumped into the harbor," O'Connell told Bergman this week.
It's true -- no one knows the strike's exact cost. That might not be known for weeks, possibly months. Again, it won't be great news for the economy.
Even if it's going to be bad news, let's at least be accurate.
