From John Cole's Balloon Juice:
THE TRAGEDY OF THE AMERICAN AUTOMOBILE INDUSTRY:A Play in Three Acts
Dramatis Personae
BIG THREE, a manufacturer of automobiles
UAW, Big Three’s employee
MITT ROMNEY, an idiot
ACT ONE
BIG THREE: I have plans to build automobiles, but I need labor to do so!
UAW: I will labor for you if you will pay me $40 per hour.
BIG THREE: I will not pay you $40 per hour.
UAW: But I need to save for my inevitible retirement, and any health concerns that may arise.
BIG THREE: I will pay you $30 per hour, plus a generous pension of guaranteed payments and health care upon your retirement.
UAW: Then I agree to work for you!
ACT TWO
UAW: I am building cars for you, as I have promised to do!
BIG THREE: I am designing terrible cars that few people want to buy! Also, rather than save for UAW’s inevitible retirement when I will have to pay him the generous pension of guaranteed payments and health care that I promised, I am spending that money under the dubious assumption that my future revenues will be sufficient to meet those obligations.
ACT THREE
UAW: I have fulfilled my end of the deal by building the automobiles that you have asked me to build.
BIG THREE: Oh no! I am undone! My automobiles are no longer competitive due to my years of poor planning and poor judgment!
MITT ROMNEY: This is all UAW’s fault!
Friday, December 5, 2008
The Auto Industry as a Play
The Problem with the Mainstream Media
David Ehrenstein presents a compelling case against the use of anonymous sources. Definitely worth the read.
Cheney's Toy
Sorry to bump the baby thread. I saw James McMurtry last night and wanted to drop some of his more recent stuff here.
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