[Marxism] Auto bailout fails for now in Senate over demands for immediate wage, benefit cuts

Steve Palmer spalmer999 at yahoo.com
Fri Dec 12 01:51:00 MST 2008

Oh puhleeze ...
The Democratic Party is at least as racist as the Republicans. The GOP opposed the bill because they're rabidly anti-working class and captive to petty-bourgeois hysteria. The Democrats are smart enough to leave it to the UAW to cut workers benefits, instead of trying to micromanage and land themselves in political doodoo. It's not like white workers are going to get black workers jobs as a result of this or get richer or get more job security.

90% of the workers affected by this are outside Detroit, many of them in surrounding, very 'white' states. There are about 240,000 workers directly employed by the big 3. Then about 970,000 at suppliers indirectly dependent on the auto industry. Their spending supports a further 1.75m workers. So almost 3m workers are affected by this.

Unlike the financial workers, most of them do not live off surplus-value but contribute to it. They're just about to rip out a key source of surplus-value. Gov't will lose taxes (a clawback of surplus-value) and have increased unemployment costs (a deduction) - about $160bn over three years. So we get cuts in consumption and in available surplus-value, accelerating the descent into depression.

There's over $60bn of bonds at risk, several billions in short-term financing that won't get rolled over, GMAC will get whacked, more CDS events triggered. So Wall St is going to take a haircut as well.

Like blinded seething Samson in his rage, these scum are pulling the temple of capitalism down upon themselves in their hatred of the proletariat. Unfortunately there's going to be a lot of damage to the rest of us thanks to falling masonry ... whatever our skin colour.

--- On Thu, 12/11/08, Fred Feldman <ffeldman at bellatlantic.net> wrote:

> From: Fred Feldman <ffeldman at bellatlantic.net>
> Subject: Re: [Marxism] Auto bailout fails for now in Senate over demands for immediate wage, benefit cuts
> To: "Steve Palmer" <spalmer999 at yahoo.com>
> Date: Thursday, December 11, 2008, 11:13 PM
> The Republicans get to play the hard cop role here
> comfortably because of
> their role today, which they have no idea how to change at
> this point or
> whether to change it, as the white man's party. 


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