Here is CNN coverage of the union strike in Chicago that started Saturday:
http://www.youtube.com/watch?v=EXWhv6YL0rM
An article:
http://www.comcast.net/articles/news-general/20081206/Workers.Takeover/
The first problem I see, well, is the taking over part. People get soft on poor workers sometimes, so it is not too big a problem. Next, of course, is what caused all this?
The company suddenly closes, because its bank suddenly stops lending money. This can be solved clearly by subsidizing the bank. But wait? Did Bank of America not already get $25 billion from the financial bailout? The bank's high officials need to be inversely subsidized by the government in proper Keynesian manner (raise tax to give them less incentive to give themselves high income).
I think this company is already too late in the cycle of capitalistic greed rot to be saved, so pray for the workers and families. America, however, definitely can be saved; if Keynesian economics fails, it can revert to socialism!
Monday, December 8, 2008
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