GLOBAL BANKERS VS US AUTOMAKERS
For those of you who don't remember, within a few days of stocks going down last September, the entire White House, media and US congressional apparatus started telling people how important it is to "save the banks" and how crucial it is to spend hundreds of billions of Dollars doing so. Everyone bought into this theory that US taxpayers should give 700 billion Dollars to bankers. all sort of black scenarios were painted vividly for the public, so they knew why they had to fork over the taxes to the people who, just one year ago, were generating billions of dollars of profits.
No one, not even a single commentator asked, if the government is worried about money being lent out, why should they not open a new banking system and lend out cash directly to those who are "creating jobs" or operating their "businesses"? Why should the government give blank cheques to banks without a guarantee, then run around and worry about whether the cash is getting out to those who legitimately needs to borrow?
And how many people to the banks employ in total in USA? around 1,000,000 people.
Last week the giant automakers began asking for some cash, not 700 billion, not even 100 billion. They wanted 25 billion from the 700 allocated for the economic package. Rightaway the media and the government started shaming them for this. All of a sudden there was no dark scenario about millions of people losing their job, something that is a possibility if the automakers fail. Mind you, the automakers directly hire about 6 million Americans for their operations and millions of others under contrators. That doesn't include all those who work for the major automakers in Canada and other markets.
As you can see there is a turf war between bankers, international ones who have been in charge of the US economy more or less since 1913, with the last remaining giant industrialists. And the bankers are about to win. They want the last bastion of high paid jobs in USA to die. They want capital from cheap labour places to come and buy these companies and transfer the machinery and skills to China or India or even cheaper places. That's what I suspect is happening behind the GM, Ford and Chrysler bash fests in CNN and other media outlets.
Nobody is chasing rich bank executives to see if they take corporate jets or not. According to Bloomberg, nobody even know who is really getting the 700 billion, because the federal Reserve doesn't want to disclose the list of recipients.
We all hate cars, but we have to make sure that our disdain for gas guzzlers don't encourage us to help destroy the last remaining large unionized employers of USA.
Think about it, banking and investment industry hires about 100,000 people. Giant automakers hire about 6 million people. Who deserves to be supported right now in the hard times between the two?
No one, not even a single commentator asked, if the government is worried about money being lent out, why should they not open a new banking system and lend out cash directly to those who are "creating jobs" or operating their "businesses"? Why should the government give blank cheques to banks without a guarantee, then run around and worry about whether the cash is getting out to those who legitimately needs to borrow?
And how many people to the banks employ in total in USA? around 1,000,000 people.
Last week the giant automakers began asking for some cash, not 700 billion, not even 100 billion. They wanted 25 billion from the 700 allocated for the economic package. Rightaway the media and the government started shaming them for this. All of a sudden there was no dark scenario about millions of people losing their job, something that is a possibility if the automakers fail. Mind you, the automakers directly hire about 6 million Americans for their operations and millions of others under contrators. That doesn't include all those who work for the major automakers in Canada and other markets.
As you can see there is a turf war between bankers, international ones who have been in charge of the US economy more or less since 1913, with the last remaining giant industrialists. And the bankers are about to win. They want the last bastion of high paid jobs in USA to die. They want capital from cheap labour places to come and buy these companies and transfer the machinery and skills to China or India or even cheaper places. That's what I suspect is happening behind the GM, Ford and Chrysler bash fests in CNN and other media outlets.
Nobody is chasing rich bank executives to see if they take corporate jets or not. According to Bloomberg, nobody even know who is really getting the 700 billion, because the federal Reserve doesn't want to disclose the list of recipients.
We all hate cars, but we have to make sure that our disdain for gas guzzlers don't encourage us to help destroy the last remaining large unionized employers of USA.
Think about it, banking and investment industry hires about 100,000 people. Giant automakers hire about 6 million people. Who deserves to be supported right now in the hard times between the two?
Labels: Politics
posted by DADABASE at
12:16 PM
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