Five things to know as the massive port strike enters its third day | Money [Video]

New York (CNN) — A massive port strike along the East and Gulf Coasts that kicked off on Tuesday has the potential to become one of America’s most disruptive work stoppages in recent times.

The demands of the nearly 50,000 members of the International Longshoremen’s Association walking the picket lines remain at odds with the contract offer from the United States Maritime Alliance, or USMX. USMX represents the major shipping lines, as well as terminal operators and port authorities.

“If we have to be out here a month or two months, this world will collapse,” said ILA President Harold Daggett in an interview with CNN Tuesday morning. “Go blame them (the USMX). Don’t blame me, blame them.”

The workers on strike have voiced real concerns about the future of their industry. The strikes, which have stopped the flow of a wide variety of goodsat the docks of almost all cargo ports from Maine to Texas, also comes …