The alarm bells should be ringing day and night about what’s being prepared at General Motors — the ripple effects could produce tidal waves.
The Obama administration has made no secret about its plans for GM: the Chrysler bankruptcy was the “test case,” and now Obama’s Wall Street buddies inside the Auto Task Force plan to replicate it. The vast implications of the Chrysler bankruptcy went unnoticed by the mainstream media, concerned as it was with the convenient hype provided by Swine Flu.
The real swine, however, are those preparing the greatest single attack on American workers since the Great Depression, the precedent of which will reverberate loudly through business-labor relations in the country — that is, if workers at GM and its parts suppliers don’t put a stop to it.
Saturday, May 23, 2009
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This multiple interview is full of nice tidbits that put things into perspective. (hat tip to "Moon...")
ReplyDeleteSome institutions such as Citicorp, for example, received about $60 billion in direct assistance, and $340 billion in guarantees. So US taxpayers are into Citicorp for around $400 billion. (...) Think back to Citicorp. I looked at the ticker today: the market capitalization of Citicorp is $17 billion. So the government could buy Citicorp for a fraction of what we've already obligated the taxpayer for. And in buying Citicorp, as an example—there could be one or two others—the government would announce in four to six months that it is going to sell the good assets of the bank back to the public. If the government bought Citicorp for, let's say, $20 billion, what would it be worth if the government sold the good assets back to the public? Surely, several times what it paid for it.
Is there a link or is this a personal editorial?
ReplyDeleteI think it is probably best to confess that the capitalist system does not work, rather than prop up these zombie entities and than point or finger at them them saying "see, we have revived them, they just needed a little help." Of course, if they take over than the jig is up, and the system for enriching the few and enslaving the rest of the people (capitalism) comes crashing down.
ReplyDeleteThey ought to be turned over to their rightful owners: the auto industry workers.
ReplyDelete<span style="font-family: Verdana;">"Logic like this is unavoidable if one cannot look beyond the narrow horizons of the market economy, where one can only win on the world marketplace if they race fastest to the bottom."</span>
ReplyDeleteThis is the crux of the matter, everyone talks about the "global economy" as though the paradigm cannot be changed and is natural and inevitable. It is only inevitable if you worship at the golden calf of globalism, which is nothing but a colossal plan to enrich the few at the expense of the many (having a specific cadre in every region globally connected at the hip), making fictitious corporations that are international the only vehicle of how to do business.
Second, this happens when unions no longer see themselves as set against capitalistic business as the enemy, and become the "partners of management" as they are billed today. The combination of these two points are deadly to the people all over the world, and will produce a world of feudal slaves of the few.
http://www.youtube.com/watch?v=jTW0y6kazWM
Keep in mind that this was made in the 1990's -
ReplyDeletehttp://video.google.com/videoplay?docid=6573660441809242121&ei=rn0YSpXkF4SIrwLnk4DnBg&q=michael+parenti&hl=en&emb=1
Keep in mind that this was made in the 2002 -
ReplyDeletehttp://video.google.com/videoplay?docid=6573660441809242121&ei=rn0YSpXkF4SIrwLnk4DnBg&q=michael+parenti&hl=en&emb=1