One of the big brewing stories of the moment is whether the United Auto Workers will go on strike soon against all three major auto makers at once, which has never happened before. Coming on the heels of large, 1970s-inflation-style pay boosts for unionized American Airlines pilots and UPS workers, I think the odds of a strike are pretty good if the Big Three auto makers don’t agree to similar pay boosts. But we also know that a year ago President Biden forcefully stepped in to prevent a railroad strike before the mid-term election, and I am sure he is watching the UAW action carefully, as a major strike would be a blow to his re-election campaign. And the UAW has pointedly withheld its endorsement of Biden so far. Notwithstanding the AA and UPS contracts, it is hard to tell whether private sector unions are making a comeback. (The UAW had 1.5 million members in 1979. Now UAW numbers about 400,000.)