Biden’s economy

[Anonymous]

Anonymous wrote:Oh look! You progressives won the UAW strike last year. Now what?


Union autoworkers won big after striking. A year later, some face an uncertain future
September 13, 2024

TOLEDO, Ohio — For months last year, United Auto Workers president Shawn Fain had warned the Big 3 automakers that September 14 was not a suggestion, but a deadline.

After failing to reach new contracts by the stroke of midnight, he kept his word, calling on workers at three major assembly plants to walk off the job.

Now a year later, there’s no doubt autoworkers at Ford, General Motors and Stellantis, formerly Chrysler, are earning more money. For some, significantly more.

At the same time, Stellantis workers say they face a highly uncertain future, with little faith that their new record contracts, achieved after a painful six-week strike, will keep their jobs intact.

More: https://www.npr.org/2024/09/13/nx-s1-5101588/united-auto-workers-uaw-big-3-stellantis

"Now, workers are wondering how committed the trans-Atlantic automaker is to remain in the U.S. at all.

For years, Cooper says, old-timers at his plant in Toledo have warned that if wages rose too much, the company would move jobs to Mexico. It's a threat he's always shrugged off, given how profitable the Jeep plant has been for Stellantis.

But now?

I could see it," he says."

[Anonymous]

Anonymous wrote:

Anonymous wrote:Oh look! You progressives won the UAW strike last year. Now what?


Union autoworkers won big after striking. A year later, some face an uncertain future
September 13, 2024

TOLEDO, Ohio — For months last year, United Auto Workers president Shawn Fain had warned the Big 3 automakers that September 14 was not a suggestion, but a deadline.

After failing to reach new contracts by the stroke of midnight, he kept his word, calling on workers at three major assembly plants to walk off the job.

Now a year later, there’s no doubt autoworkers at Ford, General Motors and Stellantis, formerly Chrysler, are earning more money. For some, significantly more.

At the same time, Stellantis workers say they face a highly uncertain future, with little faith that their new record contracts, achieved after a painful six-week strike, will keep their jobs intact.

More: https://www.npr.org/2024/09/13/nx-s1-5101588/united-auto-workers-uaw-big-3-stellantis

"Now, workers are wondering how committed the trans-Atlantic automaker is to remain in the U.S. at all.

For years, Cooper says, old-timers at his plant in Toledo have warned that if wages rose too much, the company would move jobs to Mexico. It's a threat he's always shrugged off, given how profitable the Jeep plant has been for Stellantis.

But now?

I could see it," he says."

Stellantis? You mean, Chrysler? The company that's been bailed out twice. The redheaded stepchild of the big 3 that couldn't make a Daimler, a private equity or a Fiat partnership work? That company? And Jeep, a company that's barely innovated since being introduced during WW2 is having problems? Hahahaha. I'm shocked, I tell you, shocked that they're struggling.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:"The companies still need to produce. "

Hullo. They're producing. No one is buying their product.

Did you miss that part?

Produce as in develop a marketable product at a competitive price. If unions are breaking automakers, then why are BMW and Mercedes so rich? Because the end product still matters, moron.

https://www.yesmagazine.org/issue/poverty/2014/08/29/why-are-bmw-and-mercedes-so-rich

Hey dickhead, you set an artificial price on labor. Now the product can't back it. Do you understand that?

Oh, it looks like I touched a nerve. I've actually worked closely with these companies and know firsthand how terrible their management is. But you don't like inconvenient facts, do you? Must be the "unions fault" and not the MBAs who don't know how to develop profitable products.

Let me just understand your thinking here:

The union comes in to a restaurant and says all employees must be paid $100,000 per year. After a strike and several back and forths, the restaurant accepts that labor rate. If they don't accept the rate, they immediately close their doors.

If the restaurant can't produce a $200 burger and fries meal that the public will buy to support that labor rate, it's management and the MBAs fault for not being able to do that. Do I have that about right?

[Anonymous]

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:"The companies still need to produce. "

Hullo. They're producing. No one is buying their product.

Did you miss that part?

Produce as in develop a marketable product at a competitive price. If unions are breaking automakers, then why are BMW and Mercedes so rich? Because the end product still matters, moron.

https://www.yesmagazine.org/issue/poverty/2014/08/29/why-are-bmw-and-mercedes-so-rich

Hey dickhead, you set an artificial price on labor. Now the product can't back it. Do you understand that?

Oh, it looks like I touched a nerve. I've actually worked closely with these companies and know firsthand how terrible their management is. But you don't like inconvenient facts, do you? Must be the "unions fault" and not the MBAs who don't know how to develop profitable products.

Let me just understand your thinking here:

The union comes in to a restaurant and says all employees must be paid $100,000 per year. After a strike and several back and forths, the restaurant accepts that labor rate. If they don't accept the rate, they immediately close their doors.

If the restaurant can't produce a $200 burger and fries meal that the public will buy to support that labor rate, it's management and the MBAs fault for not being able to do that. Do I have that about right?

This isn't a rational union demand nor relfective of reality of how unions negotiate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Oh look! You progressives won the UAW strike last year. Now what?


Union autoworkers won big after striking. A year later, some face an uncertain future
September 13, 2024

TOLEDO, Ohio — For months last year, United Auto Workers president Shawn Fain had warned the Big 3 automakers that September 14 was not a suggestion, but a deadline.

After failing to reach new contracts by the stroke of midnight, he kept his word, calling on workers at three major assembly plants to walk off the job.

Now a year later, there’s no doubt autoworkers at Ford, General Motors and Stellantis, formerly Chrysler, are earning more money. For some, significantly more.

At the same time, Stellantis workers say they face a highly uncertain future, with little faith that their new record contracts, achieved after a painful six-week strike, will keep their jobs intact.

More: https://www.npr.org/2024/09/13/nx-s1-5101588/united-auto-workers-uaw-big-3-stellantis

"Now, workers are wondering how committed the trans-Atlantic automaker is to remain in the U.S. at all.

For years, Cooper says, old-timers at his plant in Toledo have warned that if wages rose too much, the company would move jobs to Mexico. It's a threat he's always shrugged off, given how profitable the Jeep plant has been for Stellantis.

But now?

I could see it," he says."

Labor makes up only about 7% of the cost of a car.

Also, more good economic news today. Retail sales up, July sales also revised up. Industrial production up more than expected as well.

[Anonymous]

The Fed is meeting today (9/18) and is expected to cut interest rates. Although it's not a done deal just yet, I'm posting because it will be interesting to see what DJT tweets when the decision comes out. Prediction: he won't like it. He will complain and say it is politically motivated. Remember that it's always about him and what's best for him. Always.

https://www.cnn.com/business/live-news/federal-reserve-interest-rate-09-18-24/index.html

[Anonymous]

Anonymous wrote:The Fed is meeting today (9/18) and is expected to cut interest rates. Although it's not a done deal just yet, I'm posting because it will be interesting to see what DJT tweets when the decision comes out. Prediction: he won't like it. He will complain and say it is politically motivated. Remember that it's always about him and what's best for him. Always.

https://www.cnn.com/business/live-news/federal-reserve-interest-rate-09-18-24/index.html

ITA. Do we think it’ll be a .25 or a .5 cut?

[Anonymous]

It should have been .25 in April and .25 today, so I hope it is .50, but I can see where that would potentially shake the markets, so I am settled on .25 now with signalling that it will go down another .75 over the next 6-12 months.

[Anonymous]

50 bps rate cut with two more 25 bps cuts anticipated this year and four next year. This is great news for borrowers!

[Anonymous]

Anonymous wrote:50 bps rate cut with two more 25 bps cuts anticipated this year and four next year. This is great news for borrowers!

100% and the signalling is spot on. Well done to the Fed and the Biden Administration for navigating the COVID and post-COVID shocks effectively.

[Anonymous]

Anonymous wrote:

Anonymous wrote:50 bps rate cut with two more 25 bps cuts anticipated this year and four next year. This is great news for borrowers!

100% and the signalling is spot on. Well done to the Fed and the Biden Administration for navigating the COVID and post-COVID shocks effectively.

100001 reasons the MSM will spin this as bad news for the Democrats……..

[Anonymous]

Anonymous wrote:

Anonymous wrote:50 bps rate cut with two more 25 bps cuts anticipated this year and four next year. This is great news for borrowers!

100% and the signalling is spot on. Well done to the Fed and the Biden Administration for navigating the COVID and post-COVID shocks effectively.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:50 bps rate cut with two more 25 bps cuts anticipated this year and four next year. This is great news for borrowers!

100% and the signalling is spot on. Well done to the Fed and the Biden Administration for navigating the COVID and post-COVID shocks effectively.

+1

Note how inflation happened everywhere and was worse elsewhere. That undermines the whole "Biden cause inflation" mess that the MAGAs are trying to sell.

[Anonymous]

Anonymous wrote:

Two years ago - $126.
Very same 45 items today - $414.

Democrats keep LYING worse than anyone knew.

This is exactly why America is demanding Trump to come back to the White House. And the invasion of America.

#1 KILLER of middle-aged Americans:

FENTANYL

the actual Pro-Life Party...