Occupy Wall Street
- Thread starter Buck
- Start date
That whole initiative is ridiculous from the very start. But as always, bankers are the scapegoat for all the problems we're having. Rather than address the real issues and lack of leadership (across both parties-including Obama) they're trying to turn this into "class warfare" under what appears to be a carefully orchestrated plan to distract people from more pressing issues.
Mayor Bloomberg said it best:
“The protesters are protesting against people who make $40 or $50,000 a year and are struggling to make ends meet. That’s the bottom line. Those are the people that work on Wall Street and in the finance sector.”
http://blogs.wsj.com/metropolis/2011/09/30/will-bloomberg-end-protesters-stay-on-wall-street/
Just remember that Wall Street-Citigroup, GE Capital, JP Morgan, et al provide AA liquidity and played an instrumental role in your carrier's restructuring in 2003. If it wasn't for their help you likely would have given deeper concessions and more involuntary layoffs.
Josh
Mayor Bloomberg said it best:
“The protesters are protesting against people who make $40 or $50,000 a year and are struggling to make ends meet. That’s the bottom line. Those are the people that work on Wall Street and in the finance sector.”
http://blogs.wsj.com/metropolis/2011/09/30/will-bloomberg-end-protesters-stay-on-wall-street/
Just remember that Wall Street-Citigroup, GE Capital, JP Morgan, et al provide AA liquidity and played an instrumental role in your carrier's restructuring in 2003. If it wasn't for their help you likely would have given deeper concessions and more involuntary layoffs.
Josh
Kev3188
Veteran
Buck-- How much in dues do you think the TWU joining OWS is really costing? As a group that represents people in the working class, do you think they should've just sat on the sidelines? If so, why?
WorldTraveler
Corn Field
- Joined
- Dec 5, 2003
- Messages
- 21,709
- Reaction score
- 10,662
this is emblematic of the socio-economic frustration that is growing worldwide and those who would choose to ignore it in the US do so at their own peril.
The problem is that it doesn't address the root problem which is a lack of economic growth.... there are a million opinions about how to grow the US economy but the frustration will only grow until the economy begins to grow again.
.
Banks and financial institutions have probably been way more generous in loaning where they shouldn't have, including in the housing market in the past decade.
It isn't surprising that they are holding on to their cash and not investing given the huge political uncertainty and the potential that they might be expected to clean up some of the economic messes in the world, even if the banks themselves allowed some of the problems to get larger by not shutting off lending sooner.
.
The American lifestyle and economy quite frankly are held together by lending from Wall Street. The repercussions would be enormous if those banks decide to quit lending to American consumers.
.
The problem IS the economy worldwide -and whether people like it or not - the US as the largest economy in the world drives alot of pleasure or pain for alot of other people in the world.
.
The bright spot of the week is Ford's announcement that it is bringing jobs back to the US from overseas - and other companies are doing the same; eventually the pendulum will swing back to job creation in the US as the cost/benefit ratio of outsourcing becomes less favorable.
Hopefully there will be a lot more "Ford stories" in the weeks ahead.
- Joined
- Aug 20, 2002
- Messages
- 7,319
- Reaction score
- 1,555
It is not the amount of dues that the TWU is spending. It is the continuing practice of using the membership as pawns in the political process based on the unions view of what the memberships politics should be.
Are the list of demands posted by the original OWS crowd the same as that of the working class?
While not having the initiative of their own to start a movement by labor to force the airlines, to concede to the demands of the working class, the union has landed itself on the coattail of a group who has taking that initiative.
Kev3188
Veteran
Would you prefer they joined the likes of Josh on the let-them-eat-cake side of the fence?
- Joined
- Aug 20, 2002
- Messages
- 7,319
- Reaction score
- 1,555
No, however where is this synergy to gain what the workers require?
Do not think that the union is just pushing political agenda either. It is quite clear that they are looking to boost the union representation rolls.
If I support you and your cause, maybe when that mysterious job does appear, then you will have no problem joining my union.
IF they really want to send a message have all the working class freeze contriibutions to their 401K for a while now theat would be effective.
- Joined
- Aug 20, 2002
- Messages
- 7,319
- Reaction score
- 1,555
While a grand idea of the collective masses, you are suggesting that we deplete any potential investment gains, while setting ourselves up to pay more taxes.
strikeforce
Veteran
- Joined
- Jan 18, 2011
- Messages
- 1,224
- Reaction score
- 253
Wall street is one big casino, and while YOU may reap some reward (Investment gains), the brokers and investment firms reap huge rewards on the fee's they charge YOU per trade.
This is a true story.....and goes to show how much these brokers make using OUR money!
My wife's aunt set up a trust account for my kids....something WE couldn't touch.....I'm not lying, the broker would do at least 10 to 15 trades per day @ $8 per trade, and he did this everyday for at least 10 years. Like I said, I couldn't fire the broker because my wife's aunt was the custodian on the account, but while my kids account made several thousands over 10 years, the broker made more than that. Now, multiple that by thousands of accounts and the broker is making millions for himself. The argument I always got was....well, at least he's making the kids some money. Really????
Kev3188
Veteran
The synergy comes from each additional person that stands up and says "enough."
chris perry
Veteran
- Joined
- Sep 17, 2008
- Messages
- 544
- Reaction score
- 118
Yes ,I remember JP Morgan selling my 401 AMR stock for a dollar at its lowest point,Deeming it as worthless. Where's all that stock?
I guess we helped AMR out.... JP Morgan yea I wouldn't piss on them if they were on fire....
Frank Szabo
Veteran
No way in hell would the bankers quit lending, as much as they might threaten. They Finance the purchase of the Chinese crap, and finance the companies to send the work overseas.
Between the cheap labor in Riceland and the never-ending regulations that continue to be piled on by this supposed "Party of the Common Man", doing business in the USA so expensive, we haven't a prayer of getting the industry back.
Consider - how great a difference in goods pricing must there be to finance a fleet of container ships large enough to feed Communist-Made Crap to the entire world and still make obscene amounts of money doing so?
Yes - the problem IS the economy. It became the way it is by the politicians we've voted for selling us out over the years for lobby (bribe) money and the average United States Citizen hasn't the 'nads to deal with the problem.
I agree - I hope there are more stories like Ford's. Unfortunately, the Ogabe administration made them pull the ad re: the fellow stating he'll buy a Ford because they didn't take bailout money. I'll never buy anything but a Ford again - screw "GubMint Motors" and "Fix It Again, Tony - (FIAT). I like the one I have and I'm sure the next one or three will be fine also.
WorldTraveler
Corn Field
- Joined
- Dec 5, 2003
- Messages
- 21,709
- Reaction score
- 10,662
banks make money and they don't really care the nationality of the people on the payroll as long as the party that borrowed the money repays it.
The banks made investments after the dot com bust in the housing market that turned out very badly.... some say they were forced by polititicans to loan to more high risk borrowers while others say the banks did it on their own.
It doesn't really matter other than to note that the banks are flush w/ cash now, the economy isn't moving, and the banks are not going to lend until they believe there are good investments... just like you, the banks aren't going to get burned twice.
.
They continue to loan to American consumers because the vast majority do repay their loans and the banks make money in the process.
.
There are actually are a number of companies - not just Ford - that are deciding it is not worth their while to outsource as much work overseas and some of it is coming back to the US.... granted not all that was lost will be replaced and the jobs that are coming back aren't as valuable as the ones that left but it does say that economic evaluations are done on an ongoing basis by companies to determine if it is worth the while to continue to outsource. Perhaps it is the high unemployment here, perhaps it is local job creation incentives, perhaps it is the complexity of doing business overseas and then bringing the product back here - but jobs are returning to the US.
.
It also says that the outsourcing decisions that were made 5 years CAN be reversed - as long as not all of the resources have been disposed of - and that it might have made sense for some airlines to have ditched their facilities in BK and then build new ones later on - or buy facilities that were built and are not used....
but it still requires that assuming that "they won't outsource us" is a mistake - and it is also a mistake to assume that once a decision to outsource has been made, it cannot ever be reversed.
.
The best course of action is to demonstrate that it is worth your employer's efforts to keep you employed today - and keep that mindset every day.
If they do not believe it is worth their while to keep you on the payroll, it is certain that plans will be put in place to figure out how to replace you (you believing used in the collective sense).
Similar threads
