Here’s why Fickle Cycle is rapidly becoming the best New Zealand blog focussed on international issues:
I wasn’t impressed with December’s car industry bail-outs in the US and I’m not any happier with the latest round. I have a fundamental issue with giving money to these corporations whose primary interest is collecting profit. The US Government may say they’re closely watching these companies but for what exactly? The Government isn’t going to be ensuring the money is spent on the workers (the people that are most vulnerable during this recession), they’ll just make sure there’s no more embarrassing CEO bonuses and that the ‘restructuring’ puts the car businesses back in profit.
I don’t have enough faith in GM and Chrysler, or the US government, to restructure their business in a way that benefits all involved and not just the top 20%. Investing billions of dollars into a company just so people can keep their jobs is simply pathetic. Restructuring towards a better future should mean change that involves higher pay for workers and major cuts for the higher ups that get far too much for what they do. A system where problems hit the people that didn’t create it the hardest and the people who created it the least is unjust and not how businesses should be run. The ‘restructuring’ that will take place is just going to restore this fragile relationship that will lead to more problems in the future. At least 400,000 people have already been laid off in the car industry because of the recession and I fear not enough is being done for them. This will only lead to future problems.
Where are the major Obama announcements declaring new social structure investments, new job initiatives, more protection for redundant and vulnerable workers, and help to individual people struggling to keep their homes (or to have a home at all)? This question goes not just to the US Government but to New Zealand’s and most other countries too. I’m tired of seeing all this money given to corporations with the expectation that the cash will trickle down and I’m tired of corporations being treated with higher priority than the people.
We don’t cover international enough and Fickle is happy for us to re-post his stuff occasionally, so look forward to seeing more of it here. Or I guess you could just cut out the middle man.