Will Amazon put a Blue-Collar-Worker on its board of directors? Amazon Shareholders Debate, Joe Biden Attempts To Bails Out Teamsters and other Bankrupt Labor Union Pensions – May 25, 2021,
So, if people are curious as to why Joe Biden is currently the President of the United States, it had much to do with Labor unions and people looking for a handout from the government. I haven’t read it in its entirety but, labor union leaders secured an $83 billion pension-fund bailout in President Joe Biden’s American Rescue Plan Act. If interested you can read about it here. Estimated Budgetary Effects of H.R. 1319, American Rescue Plan Act of 2021 | cbo.gov
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Unfortunately for the retirees, that money won’t last them long before they need another bailout, and with Joe Biden’s energy policies contributing to inflation, people on fixed incomes will soon fill the pinch of PRICE-INFLATION and a deflationary economy. I bring this up because the labor unions caused the problem Joe Biden forced U.S taxpayers to pay for.
If you know the story of some labor unions in the United States, part of the problem is that inexperienced people were put into financial positions they weren’t qualified to be in. As an example imagine a blue-collar worker who looks to his union boss for guidance assumes the role of managing the finances of a pension?
Now, I’m not going into specifics in this post, but for those of you who don’t know why some persons are broke, look no further than the labor unions. If you listen to people like American economist Richard D. Wolff he speaks of a socialist utopia that doesn’t work in practice.
There is no capitalist utopia, the only utopia that exists in capitalism is the freedom component. As an example, I should be free to put any price on my labor, let’s say there’s a bunch of racist white men who because of slavery have more skills and resources than minority has, it will be hard for a minority to compete for a job to gain more skills if that minority can’t charge less for his or her labor.
Well, Socialists like Richard D. Wolff and labour unions want to prevent this minority from stealing jobs for whites and or privileged in society. Now, sure labor unions have their benefits, but they also have their drawbacks, because most people who join a labor union have a hard time comprehending freedom or the free market.
Leftists want a heavily regulated market in which people can’t be exploited based on their subjective definition of the word. They include fire sale wage labor as something the government should ban from existence. So as an example once a labor union fights for let’s say a $15 minimum wage, countries with a lower-valued currency than the United States, will usually take manufacturing jobs, because even if let’s say China has its own minimum wage, if it’s currency on the DECENTRALIZED and often manipulated forex markets is valued less than the U.S dollar, private companies will go to where it will fight cheaper labor.
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Despite what people think, the reason why private companies seek cheaper labor is that consumers are unwilling to pay higher prices, which are the result of labor unions. The consumer is the driving force of capitalism. It’s not to say it makes capitalism a utopia, but capitalism has been proven to be a superior system to socialism because the consumer rules or voes with their cash.
I bring this up because Amazon shareholders are questioning whether or not to allow a Blue-Collar-Worker on its board of directors and I get why. In the world of grown-ups, we comprehend that markets can go up and markets can go down, meaning that I could put $10,000 into Amazon, and 20 years later that $10,000 could be worth $5,000 or less.
The reason why most people fall for these “GUARANTEED” pension scams often promised by labor unions is that most people don’t want to take the risk of investing. Most of my investments don’t make me any money, but that doesn’t detour me from investing, when I lose money I learn how to make more money, but even members of my family when they see or imagine the first sign of financial loss, they want absolutely nothing to do with investing.
That’s fine because all humans are different, but what Amazon doesn’t want to do is put people into situations they’re not going to understand or even want to understand. A lot of people on the Left genuinely believe that things need to be reformed, and by reformed they mean GUARANTEED!
If you listen to most socialists talk, they’re often projecting their ignorance onto other people and this can be very hard to deal with if you’re a shareholder. I often read or listen to Socialists using the term “utopia” meaning capitalist utopia, and for most capitalists like myself, our utopia is not the money our utopia is having the liberty to bounce back if we hit rock bottom, that’s what gives me confidence.
I had to train myself not to be a wage slave, not because I didn’t want to work for wages, but because in a wage environment your subject to all sorts of rules and regulations that don’t exist in the sales, business, or gig economy. Now the risk I take not being a wage slave is a guaranteed paycheck or a guaranteed pension.
But because I don’t put my trust in the government or a labor union I don’t see a pension as guaranteed nor do I see a minimum wage as beneficial to humanity. That said because I believe in freedom I also believe that people have a right to believe whatever they want to believe and do what makes them happy.
But in the grown-up world of investing, we can lose it all and we have to take responsibility for what happens with no excuses AND NO BAILOUTS. Luckily for the labor unions, Joe Biden came to the rescue, but I know people in third world countries whose governments don’t have the worlds reserve currency, so in order to hand out UNEARNED pensions, leaders in these socialist third world countries often have to debase their currency to pay out pensions which means that although the pension receiver gets what’s owed, their purchasing power is lost to inflation.
Although inflation won’t happen as fast in America, it’s going to be a problem because although Joe Biden bailed out some pensions he also bailed out a whole bunch of other private industries that lobbied for him, which equates to the cost of living for Americans going up and I think with Amazon, they know they have to be careful with putting the wrong person on a board of directors because once they lose that money, that money is gone.
And even if their financial loss is the result of Blue-collar workers’ involvement in investing, what the public will hear is that Amazon screwed over its employees. Many of us heard about the Teamsters pension, well, most people don’t know the entire story behind it.
If you’re going to be a wage employee with a union, remember that there’s some risk involved. Yes, Amazon avoided the Union, but there are still unqualified people who want to be major decision-makers for Amazon and if they find their way into positions of power within the organization anything could happen.
Interesting times ahead!
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