After years and years of GM following Ford’s warning, “Small cars make small profits!”, and churning out and advertising SUVs, now love of exhaust fumes and Texan oil dynasties has given way in the purchasing decisions of middle America to the reality of $3 a gallon gas prices.
C’mon. Even if you can count on suburbanites’ psychological weaknesses, the capitalists at GM knew this was coming. They knew the oil robber barons were going to pump up the cost of gas, what with that Iraq thing, and they knew that Americans couldn’t really afford the suburban vanity tanks very well to begin with. So now GM has been unable to sell all this gas-guzzling narcissism-on-wheels, surprise, surprise, and profits have plummeted.
Who’s going to pay for the GM capitalists’ ridiculous, irresponsible speculation on the stupidity of Americans? Well the GM union employees, naturally, to the tune of $1 billion in retirement funds. It’s really no profligate speculation at all when profit losses can be taken out of the hide of the employees.
GM’s losses are in the multiple billions, and I suppose we can consider the logic of forcing the employees, a labor aristocracy who’ve never really supported other workers, to suffer to the extent that they’ve gambled by being a company union–a gang of workers–instead of a real union.
Still, it’s all debauchery and capitalist ineffeciency.
The hammer comes down on other upper working class folks. Today the NY Times runs an article on the soaring expense of post-secondary education. Partially they try to explain this expense by saying that employee wages and benefits costs are rising. (While also admitting that people no longer pay taxes for education–it’s effectively become privatized.) They don’t present figures on what employees make. While administrative costs have risen (to try to get more money out of potential donors), educators get paid peanuts.
Now apparently no mainstream communications outfit in the US can even mention that the US economy is presumed to depend on workers paying endlessly for unaccountable “health care” firms’ massive, skyrocketing profits. Businesses are trying to shed the health care costs like mad. So who is supposed to support these ridiculous “health care” costs? Workers themselves. That’s right, the folks with stagnating or falling wages, a steadily falling share of the national wealth, who have to bear the costs of insane housing speculation, and who bear consumer debt in excess of their income, somehow are supposed to also prop up limitless “health care” profits by themselves as well. That’s an awesome economic development scheme. Good luck to those greedy fucking capitalist bastards. What a sorry, sorry state this country is in.