WALL STREET,
GLOBALIST, BILLIONAIRES and the OPEN BORDERS ADVOCATES FINISH OFF
MIDDLE-AMERICA.
Ryan asked how much
longer will the working-class not matter “because it’s becoming impossible for
them to keep their nose above water.”
“Where’s the social compact that we used to have between
corporations and their workers? Where’s the social contract between the
government and our workers?” asked Ryan. “I mean,
it’s like the worker — there’s always an excuse that the worker is going to get
hammered, that they’re going to lose their pensions, they’re going to lose
their jobs, they’re going to have to move. Meanwhile, corporations, in this
instance, General Motors got $157 million in tax cut just last year. I mean how
much longer are we going to do this to where the worker doesn’t matter? And I
hope this is a real wake-up call for us to say, workers, white, brown, black,
gay, straight, working-class people have got to come together because it’s
becoming impossible for them to keep their nose above water anymore.” REP. TIM RYAN
GENERAL MOTORS DUMPS
THOUSANDS OF WORKERS AND CLOSES PLANTS
- Stockholders celebrate!
"It
identifies socialism with proposals for mild social reform such as
“Medicare for all,” raised and increasingly abandoned by a section of the
Democratic Party. It cites Milton Friedman and Margaret Thatcher to
promote the virtues of “economic freedom,” i.e., the unrestrained
operation of the capitalist market, and to denounce all social reforms,
business regulations, tax increases or anything else that impinges on
the oligarchy’s self-enrichment."
“The
yearly income of a typical US household dropped by a massive 12 percent,
or $6,400, in the six years between 2007 and 2013. This is just one of the
findings of the 2013 Federal Reserve Survey of Consumer Finances released
Thursday, which documentsa sharp decline in working class living standards and
a further concentration of wealth in the hands of the rich and the
super-rich.”
"The American phenomenon of record stock values fueling
an ever greater concentration of wealth at the very top of society, while
the economy is starved of productive investment, the social infrastructure
crumbles, and working class living standards are driven down by entrenched
unemployment, wage-cutting and government austerity policies, is part of
a broader global process."
"A
defining expression of this crisis is the dominance of financial speculation
and parasitism, to the point where a narrow international financial aristocracy
plunders society’s resources in order to further enrich itself."
Analyst: Outsourcing American Jobs Responsible for GM Layoffs, Not Tariffs
3:07
The multinational corporate business model of outsourcing and offshoring Americans’ jobs overseas to cheap labor foreign countries is responsible for General Motors’ (GM) recently announced mass layoffs of American workers, a trade analyst says.
Coalition for a Prosperous America Research Director Jeff Ferry details in new analysisthat the recent announcement by GM to lay off 14,700 workers in North America — including 3,300 American factory workers — is the end result of the corporation’s outsourcing business model.
In 2019, GM expects to stop production at four American plants, including Detroit-Hamtramck and Warren Transmission in Michigan, Lordstown Assembly in Ohio, and Baltimore Operations in Maryland. This comes after GM laid off about 1,500 American workers in Lordstown earlier this year while their Mexico production remained unaffected.
Breitbart TV
Ferry’s research reveals that GM is one of the “most aggressive” automakers in terms of outsourcing their U.S. production to Mexico.
“GM’s Mexican production is up by 300,000 units over the 2008 level,” Ferry notes.
“… GM’s US vehicle production fell by some 330,000 units in 2017, while its production in Mexico rose by 126,000 last year,” Ferry writes. “Ford is now the number one producer of vehicles in the US.”
(Coalition for a Prosperous America)
(Coalition for a Prosperous America)
“With the closures announced last month, it’s likely that GM’s US production will continue to fall, while its Mexican production rises,” Ferry writes. “If GM wasn’t loading up its Mexican plants, but instead shifted some of that production to the US facilities it’s planning to close, those facilities would be running at much higher levels of utilization and would probably be profitable.”
Offshoring production out of the U.S. to Mexico has proven cheaper for GM executives, as American workers earn $30 an hour while Mexican workers earn about $3 an hour, a 90 percent cut to wages that widens the corporation’s profit margins.
Citing GM’s $2.8 billion in profit in the third quarter of 2018 in North America, Ferry says GM’s layoffs in the U.S. and Canada are driven by outsourcing, not President Trump’s tariffs on imported steel and aluminum, and not poor profits.
“Although the tariffs add a few hundred million dollars to GM’s costs, that additional cost is completely overshadowed by the additional revenue and profit flowing from better-than-expected truck sales,” Ferry writes.
Ferry’s solution to continuing offshoring of American jobs to Mexico is imposing tariffs on the $180 billion worth of imported vehicles in 2017, citing the effectiveness of the 25 percent on imported light-duty pickup trucks.
“GM North America’s revenue this year is likely to come in at around $110 billion, so if it could capture an additional $10 billion in revenue from the importers hit by tariffs, it would make a significant difference to its capacity utilization, profitability, and the viability of its US footprint,” Ferry notes.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder.
No comments:
Post a Comment