Thursday, July 22, 2021
Wolf as usual
As usual, Wolf points out that MOST of the economic shit comes from long-lasting corporate treason and crimes. SOME of it comes from the 2020 holocaust. The pattern is consistent, 70% old crimes, 30% new crimes.
As usual, Wolf shows it with facts and the best graphs in the world.
Today he features a whiny complaint from a railroad baron:
“Nor did we anticipate that a lot of the people were going to decide they didn’t want to work anymore. So attrition was much higher in the first half of the year than what we had expected,” he said. Before the railroads blame the 33% cut in the workforce on the pandemic, let’s point out that by February 2020, just before the pandemic, their headcount had already been cut by 46,000 workers, or by 26%, to 128,000. Only 12,000 workers were cut during the pandemic. The resulting deterioration in service triggered numerous complaints from shippers. But one of the big benefits was that the workforce could be slashed, which fattened the profit margins at the railroads. Wall Street analysts loved it, and it was good for railroad stocks.GOOD FOR STOCKS. SHARE VALUE IS THE UNIVERSE. NOTHING ELSE EXISTS. Also as usual, Wolf's commenters know what they're talking about:
Yup, railroads have been cutting jobs for decades in Canada. And now with the latest wildfires they will have to rehire brakemen as a freight train most likely started the Lytton disaster fire. They will now have to slow down and also monitor. They substituted instrumentation for brakemen…and as a result there have been some absolutely dreadful accidents the last 10 years.The basic permanent fact is that people DO want to work. People desperately want a two-way contract with employers, where both sides have obligations and both sides must PAY FOR VALUE. People are terminally tired of giving 110% and then being tossed like toilet paper to add .000000001 micropenny to ALMIGHTY SHARE VALUE.
Labels: Equipoise, Natural law = Sharia law, Natural law = Soviet law
¶ 10:26 PM
