we did it to ourselves - part 2

The title doesn't refer solely to the events of 9/11 and the paranoid conspiracy fueled by those who meagerly profit from it. After all the finger pointing, it is becoming apparent that poor Joe Sixpack, the innocent victim of all the bailout and TARP schemes, was actually the contributor to the overall financial and economic malaise. I'm not talking just about that Joe Sixpack who moved to a new house that he knew he couldn't afford, but happily trusted the wisdom of the US Government that had come up with a magic financial formula that made the American Dream possible for nearly everyone. There are others . . .
news.yahoo.com...

In order to conserve cash, the Big 3 decided to extend the Christmas season by closing some plants till mid January or so. (They may not re-open.) But how much cash are the company execs hoping to spare when this condition exists?

Laid-off workers at Ford and Chrysler get vacation pay for the normal holiday shutdown, then will receive unemployment benefits and supplemental pay from the company that total about 85 percent of their normal pay.

There is no doubt about it now: The UAW looking after Joe Sixpack is the main reason why the US auto industry can no longer survive economic recessions.

But there is another Joe Sixpack who makes $14/hour and whom the House ordered to help his fellow citizen at a Chrysler plant who makes $28/hour + fat benefits. That leads to a question which system is more screwed up: Chinese pseudo-communism or American pseudo-capitalism.

The rest of the world, be advised . . .

So Right

This Is Great

The UAW Needs To Make Severe Concessions

Originally posted by atoms.2008

The UAW Needs To Make Severe Concessions

So if American workers concede a living wage with benefits, who will pick up the tab for medicare, social security and the higher tax rates that will be required to support the federal, state and local governments, the poor, and the rich?



[edit on 18-12-2008 by In nothing we trust]