The Big Three

Written By: - Date published: 11:41 pm, December 18th, 2008 - 4 comments
Categories: capitalism, music - Tags:

I was listening to some of the old White Stripes when I got home this evening when this song came on. Given the all the talk around the bailout of the Big Three car manufacturers I figured it was kind of appropriate. Enjoy.

4 comments on “The Big Three ”

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  1. Zorr 1
    19 December 2008 at 12:50 am

    Well, Chrysler is closing its doors from Dec 18 (US time) for at least a month just to keep itself remotely viable for rescue by the US taxpayer.

    Also, just came across Paul Krugmans blog at NY Times which makes interesting reading… ^_^

    http://krugman.blogs.nytimes.com/

  2. Pascal's bookie 2
    19 December 2008 at 8:29 am

    hmmmm

    http://www.portfolio.com/views/blogs/market-movers/2008/12/18/how-sticky-are-wages

    There’s been a huge shift in power in recent years from labor to capital: corporate profits have been rising much faster than wages for some time now. It makes sense that capital would make use of its newfound power to reduce labor costs in a deflationary environment of rising unemployment. During the boom, companies laid off workers because those workers demanded, and cost, too much money. Now that workers have lost their negotiating leverage, we might start seeing more across-the-board pay cuts.

    Basil Fawlty, wars, and the mentioning thereof, not.

  3. illuminatedtiger 3
    19 December 2008 at 9:24 am

    And in related news the GOP is doing a bit of good ‘ol fashioned union breaking:

    From: [Redacted]
    Sent: Wednesday, December 10, 2008 9:12 AM
    To: Various Republican Senators [Redacted]

    Subject: Action Alert — Auto Bailout

    Today at noon, Senators Ensign, Shelby, Coburn and DeMint will hold a press conference in the Senate Radio/TV Gallery. They would appreciate our support through messaging and attending the press conference, if possible. The message they want us to deliver is:

    1. This is the democrats first opportunity to payoff organized labor after the election. This is a precursor to card check and other items. Republicans should stand firm and take their first shot against organized labor, instead of taking their first blow from it.

    2. This rush to judgment is the same thing that happened with the TARP. Members did not have an opportunity to read or digest the legislation and therefore could not understand the consequences of it. We should not rush to pass this because Detroit says the sky is falling.

    3. The sooner you can have press releases and documents like this in the hands of members and the press, the better. Please contact me if you need additional information. Again, the hardest thing for the democrats to do is get 60 votes. If we can hold the Republicans, we can beat this.

    (http://thenewshole.msnbc.msn.com/archive/2008/12/12/1713569.aspx)

    Not that the Democrats will be much better (they’re further to the right than National after all) but one would hope we won’t see similar dirty tactics under a united Obama administration.

  4. Draco T Bastard 4
    19 December 2008 at 8:58 pm

    I think this one is far more suitable for the times.

    http://uk.youtube.com/watch?v=tlAPDQdHqCY