UAW Employees Go On Historic Strike
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- Опубликовано: 28 сен 2024
- OAN's REAL AMERICA -- Dan Ball W/ Peter Schiff
Recorded 9/13/23
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#uaw #union #strike
Finally thanks for the update! Im trying to hold a million dollars worth of AOC44T . Oddly enough its a sleeper for some weird reason that not many RUclipsrs talk about in regards to lnvesting. It has had steady growth since its release.
On AOC44T , youve done an amazing job. How are you going to make all of these films and write all of the text in such a short amount of time? Exceptional work.
My CPI inflation analogy:
If your landlord every year raised your rent 5% a year and then this year only raised it 2%, is your rent going up or down? Of course it’s going higher and up, (that’s why grocery bills arn’t going down, but the growth of that increase has fallen.
Don’t let the financial media confuse you by saying inflation has dropped.
It is basically if something was $100 + 5% that year is 105 and 2% this year it is 107.1 not 102 because inflation did not go down just the amount that it went up the next year was lower.
Technically that's a 60% drop in Inflation, from 5 to 2. It's just that people are dumb, anything negative would be deflation.
@@DarkSTKx absolutely!
This is why people don’t feel the grocery store prices coming down like the media says it is.
Correct but the money supply is contracting. Look at M2. And Fed balance sheet slowly declining or flat. So there is no monetary inflation right now. The price increases are from the previous monetary increase. It takes time for money to flow into the system. Fed will eventually need to print more to find massive deficit spending.
@@U2GuitarTutorials I would agree with what your saying. But that money supply hasn’t dropped more than the QE of 5t starting at Covid. I see it that we need to withdraw all of that 5t to see where we stand as an economy.
I am glad you mentioned current market cap and possible future market cap of AOC44T . Don’t freak out people, it’s just a freaking bet.
Thank you for this video. There are so many uninformed people out there when it comes to AOC44T
This is very misleading UAW wants what they gave up to help companies during the recession in 2008, which was supposed to returned to their members when the companies were out of their financial burden. The UAW gave up COLA ( Cost Of Living Adjustment) and more benefits were voluntarily given up to help the big 3 in the financial time of despair. Yes, if the UAW had their COLA a smaller percent of a wage increase would safice. If the UAW would have had COLA they would be making 10 more per hr. They want what they gave up to help the companies only fair the companies give them back what they sacrificed,
These auto workers are going to need a big big raise if they're going to pay for the housing and welfare benefits of all these new illegal migrants.😮
Well. Said. The huge greedy corporations they complain about are all run by woke leftist.
How immigrants does America need to replace retiring boomers? We're not having enough kids to support the aging population.
Biden should be ashamed.
Illegals cant get welfare. It's only provided to citizens and legal residents.
Not to mention all the domestic welfare parasites and habitual criminals
Peter always speaks the Truth gotta love him for it!
I really loved his correction at the end! They aren’t spending tax dollars…those are long gone…they are printing money to spend.
@@mafp22w Precisely there are printing money from the future!!! World WIde Depression World Wide Hyperinflation to roll out CBDCs and wipe out the masses.
I just love seeing people get what they voted for then they express buyers remorse.
Yet, they seem to never learn
You mean lobbyists get what they pay for
46% of UAW members voted for Trump....just saying
Except no one voted for biden
Thanks you for keeping us updated with AOC44T. I feel for our country, low income people are now suffering to survive, inflation and recession increasing daily and many families cant even enhance good cost of living anymore thankful for this AOC44T .
Bribenomics..
This is a scam don't fall for it.
I work at Stellantis. We know inflation is out of control. We've lost so much purchasing power over the decades. Our demands are not unreasonable. We'll settle for MUCH less than we're asking for. Thanks Peter. You are our FREE MARKET SUPERHERO. God Bless
standing in solidarity from 588. 👊
The free market and government is what caused this mess… national socialism is the answer… everyone works, everyone gets equal benefits.. all for one and one for all.
Wtf those are 2 completely inconsistent world views.
Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.
I encountered ROCH DUNGCA-SCHREIBER through a CNBC interview, and I look her up. She is guiding me. Since then, she has given me chances to buy and sell the stocks in which I'm interested. You can hunt her up online if you require care supervision.
Henry Ford paid his workers enough so they themselves could afford a t model.wages went through the roof for all American's. Perhaps they should start building t models again.
The US was very productive then
That was back before 1/2 the bums in usa was on welfare.
how about keeping CEO compensation aligned with worker pay. The CEOs received 25% raises each year since 2020 + $5billion in stock buybacks, increasing the value of the stock they hold
*THE LABOR COST TO BUILD A VEHICLE* is only 4 - 5% of the TOTAL cost to build a vehicle. IF Labor costs DOUBLED, that would be 8 - 10%. If the Labor cost went up 50% that would still only be about 6 - 7 1/2% of the total cost to build a vehicle. There is still *93%, or more,* of the cost that is NOT Labor. Meanwhile, the Big3 raised the prices of their vehicles *30%* over the past 4 years, just because. Where is the news coverage on THAT?
Compare Big 3 UAW wages to Big 3 Mexico auto factory wages.. $16 to 30/hr vs $8 to 30 per day, yet vehicles still priced the same.. If labor cost affected vehicle price, then all Mexico made vehicles should be $8-$15k tops.
@@j_sh - Funny how that is, isn't it?
End the Fed
Then you’ll have 50 million rioting welfare parasites
Can you blame them for striking. The CEO's are making record salaries and bonuses. All while the regular Joe is barely making ends meet. Its time for workers to get paid more and these top executives need to realize that because they are straight greedy .....
I can blame them, they vote for open borders and free shit for everyone forever and then complain about inflation.
The executive making more doesn't mean the worker makes less.
The biggest expense for just about everyone is TAXES.
Ford CEO makes $25,000,000 out of a $28,000,000,000 profit.
The majority goes to share holders, A.K.A. your 401k and retirement.
Don't hate the player, hate the game.
@brentharrington9235 it's pure greed. CEO's making a 1000 times more than employees isn't make them worth that much more.
@@pineychristian tell me you don't understand math without telling me you don't understand math.
One man making $25,000,000 is completely, COMPLETELY insignificant when your labor cost stand in the billions of dollars..
17,000 workers at the 4 year rate of $32/hr cost the company $544,000 an hour, $21,760,000 a week, and $1,131,520,000 a year. That doesn't include healthcare, retirement, insurance, payroll tax etc. etc. etc.
If you spread the CEO's salary evenly across the 34,000,000 worked hours of all the employees you would be looking at a $27/week pay increase.
@brentharrington9235 so all the top executives and CEO's. Everyone up top making a fortune all while everyone in the factories working 37 days or more without a day off. These top executives need to take a pay cut Period! I understand the math and do not care. It cost money for labor. That simple.. they aren't asking for a cheap product to sell .
Shawn Fain :) Bless this man
I support the strikes. Living wage and minimum wage have diverged so much that we need to re-calibrate wages such that an honest days work is an honest days pay.
I think you are leaving out some key elements here. The companies are making record profits. The CEO is getting paid A LOT more than the 'fat cat union bosses' and never set foot on the shop floor. In other words they produce nothing. The big three have already increased the price of their vehicles beyond the cost of insanity. They are charging 100K for trucks that used to cost 50k. The quality is lesser, nobody is buying their vehicles. Especially trucks. The union agreed to concessions last contract to help the companies. Many of these workers cannot even afford to buy the vehicles they produce. The big three are taking a huge hit on electric vehicles. Nobody wants them, and nobody is buying them. Many people who buy EVs are not happy. We already know these companies are buying politicians (which should be illegal). Maybe they should convince their constituents in Washington to stop incentivizing the production of EVs. I would also like to point out that the prime shareholder of all 3 companies is Vanguard who has seen ENORMOUS growth and is estimated to have TRILLIONS in assets. Again, should be against the law for one entity to acquire that much growth since there is only so much money in circulation. We all know who made this mess possible: The central banks. It is a broken system/failed state (by design). Someone is getting paid...
Wait, how are they making record profits if no one is buying the overpriced trucks, and EVs are losing them money? Why do the workers care what the CEO is making anyway? They signed a contract. Their job is not getting easier or harder based on what the top managers are making. Or do you think if the CEO who gets paid a 1000 times more than the line workers just reduced their salary to the worker level and hired 999 additional people, this somehow would make a difference? Or distribute the 999 salaries over 200 000 employees? What is that going to be like, 0.5% increase?
@@HNedel That's a good question. The financial report indicates record profits. Dealers are not selling vehicles. Dealers lots seem emptier than usual. Something isn't adding up right? Are you a CEO??? I think anyone working 40+ hours a week should be able to afford the cost of living. Otherwise what in the blue hell is the point of going to work? This is what happens when you have runaway capitalism. Just like socialism always turns into communism, it would seem unfettered capitalism always leads to monopolies, greed, and runaway inflation. The devaluation of the dollar coupled with stagnant wages and high cost of living is the equivalent of a Chinese or Mexican salary. If the big 3 move operations to another country, why would anyone buy their product? The Japanese and Germans make far superior cars. They are trying to sell the RAM Big Horn for over 100K!!! LOLZ! For that price you could literally buy a Porsche. Who needs heavy duty work trucks? Small businesses that already cannot afford them. Broken system/failed state...
Nobody says anything When The Rich Takes advantage Of Everyday AMERICANS 😭😭😭😭😭😭😭😭
How does that happen?
@@codycast Big money is self generating with little effort. It sits in wait for other people's hard times.
@@chrisruss9861 not sure what that has to do with his statement or my question.
Great Job
Gasoline prices have been tanking . We were at $4.00 a couple weeks ago, and now we're at $3.49. So a huge disconnect vs $93 oil.
The working class does not need a sermon from CEOs, bankers and other con artists on how to tighten their belts.
Bailouts & bonuses and money printing scams are A-OK when they are pocketing the proceeds for having done zero work.
The shorter work week is a way to satisfy the big greedy unions. Unions gets dues from each worker and four-day work weeks means more workers. More workers equals more dues.
Yup they’ll then just move all those jobs to China/Mexico…🤔
Just a bargaining maneuver. I doubt they ever actually thought they could get a 32 hour week.
I lot of people are misunderstanding the 32 hour work week the uaw knows we will work more than that. When the uaw talks about a 32 hour workweek that means not working more than 8 hours a day and if you work over 8 hours a day anything over you should get paid overtime. You can work 50 hours a week in a plant and some how only get paid for 2 or 3 hours of overtime
If for the week they call 10hours a day and let's say you work 10.5 hours that day you only get paid .5 of over time the other 10 hours is straight time
@@muhammad-ik3nhexactly on the point I’m UAW ford me and you may understand that but people outside of our work may not but at the end of the day we still going to work close to those 12 hours lol
Right now Inflation is ridiculous and The RICH Are raising prices every Week 😭😭😭😭😭😭😭😭😭😭😭😭😭
I have been following Peter Schiff's analytical work for several years. 😃 I'm absolutely thrilled by how accurately his predictions come true. Of course, he can't pinpoint the exact date, but sooner or later, his words become reality. 📈 This man is like an economic prophet of our time.
Dear Peter Schiff, please, don't ever stop doing what you're doing! 👏🙏
I work on an assembly line for 10 years in a Union. They have no idea how much wear and tear goes on your body
Everyone pays for inflation, not just taxpayers.
Not the parasites getting the free money.. welfare mammies and worthless government retirees with their pensions to do nothing…
Remember Yellow Trucking folded overnight, what's stopping them to go oversees or north or even south.
Lock them out until they smarten up and start producin vehicles that are affordable and reliable, not the over-priced crp they make now. They will price themselves out of a job if they keep up this stupidity!
Senior uaw workers are already overpaid.. making $35 an hour to sit and watch a machine work.. they need to cut their pay and give it to the younger workers to balance it out. The big 3 will soon go bankrupt…
White collars have to be demoted and the real money should go to the workers
All works are needed. If no one design the car there's no plan to put the car together.
@@ilovetrump1252so because you made a blueprint you deserve 100× the profit
@MarcusTheJR nobody is getting 100 percent of profit. Uaw workers are getting paid well above average wage. With great insurance and profit sharing. It's a stugle right now for most people. Inflation is a tax on everyone. That's where the problem starts. Politicians on both sides of the aisle keep spending and printing money.
@@MarcusTheJRyea, designing a car takes WAY more labor skill than building one. Not alot of people are qualified to design a car, almost anyone can work in the plant to build them. Supply and demand 101 bud
Unjust weights and unjust measures are an Abomination to the LORD.
Most of the reason for the strike is that the Autoworkers have a Two Tiered system of compensation. Every employee should be paid similarly.
Peter should do a podcast where he compares the how much the price of a car is the CEO's salary vs the workers wages and benefits. This will shed light on the impact of the CEO salary vs worker wage gap. Then explain the reason why the average auto worker cannot afford to purchase the cars they build is because of out of control government spending. Nothing is free as we are now realizing after decades of "free" government provided "services" and "benefits".
There’s plenty of cars in reserves, they were anticipating this I hope the strike works
That's because nobody is buying them.
Works at what? Driving up the prices on already unaffordable, low-quality products?
The jobs will get shipped to Mexico, my taxes will go up to take care of a bunch of former auto workers who got greedy.
@brentharrington9235 yep theese people are brain dead
Jacking those prices back up??? When have they come down they haven't
Well said peter
If we got a 40% increase in wages at my job, the cost per unit of each item would go up 2%. Big biz can get fukt
Happy new year Schiff !
But, but, but JB said he wasn't worried about a strike because it's not going to happen.
If these demands were met how much would it increase the cost of new vehicles? Most consumers can not afford a new vehicle right now because the purchase price and financing costs are too high. Happy to have bought a one year old used vehicle 4 years ago, before prices began to skyrocket. Perhaps UAW is angling for less hours because they feel less new vehicles will be sold due to rising costs and diminishing consumer purchasing power. I would like to see the working mans standard of living improve but if you ask for too much you always open yourself up to having operations outsourced or your job could be replaced by automation.
Big 3 auto workers in mexico get paid between $8.97 to $33.05 per day and those vehicles are still the same price as vehicles made in the US by UAW workers.. Labor cost is ~5% of the US made vehicles.. The Big 3 set the vehicle price regardless of what they pay the worker. If UAW workers get $30~/hr and mexico workers get $30 per day, why are the vehicles sold at the same price? Big 3 Greed.
the companies will just outsource the manufacturing to mexico
Solidarity ✊🏿
Part prices are gonna go up and vehicle prices are gonna go up
Does a 4-day work week actually translate to 32hrs/wk? Don’t a lot of them run on compressed schedules?
VELIKIY NOVGOROD, September 21 - RIA Novosti. Sanctions slow down Russia in some ways, but at the same time stimulate development, Russian President Vladimir Putin said.
What to do?
Might the demand for higher pay rates Not Be Enough after inflationary pressures and not forgetting the Tax Take ?
32 hours and I want to work at home. Eat my gummies 😂
Happy New Year and Shanna Tova Peter!
they already make very high income, they keep forcing these companies then i'll go buy my trucks with Nissan or Toyota. Trucks are already priced stupidly high.
I work for gm and cannot afford what i produce
Burn it to the ground. Damn the economy. This is bigger than Red or Blue and its bigger than our worthless green paper💯
Labor organisations shutdown thousand of plants transdered to. Hna millions of job
A 36% raise is just greed.
Correct about the negotiation tactics, both sides have tactics. But Union strikes are everywhere atm. Chevron have big worker strikes in Australia, due to toxic culture and conditions haven't changed for 10 years. Nurses in Australia, Fire fighters in Australia, all sorts of Trade unions. But true about workers trying to catch up. This is the problem of raising interest rates too slow. They should have raised it fast and hard. Ukrainian war hasn't helped the cause. This has caused issues within the energy supply chain, which has caused more inflation as well, then on top pf that you add government policies and state policies.
It's not past inflation rates lol. 40% in four years. We're up over that in the last two years!
Vehicles are already up 30% since the pandemic and sells have yet to slow. A 40% pay increase will only increase Vehicles 4 to 5% which wouldn't even put a dent in the company's profits!!!!
Do your homework and make it make sense!!!!
#1 fan Tell it brother , the Union will win, non union myself but, I'm off grid, the Lord fast, try it bro. 👍👍 . Sell gold now
Good! Don’t go back to work. American auto is crap! That’s why Honda, Toyota, Hyundai,,,.Kia are dominating!
just keep buying gold no matter what price anything under US$2500 will be cheap when its US$5,000-$8,000 in a few yrs
The crash has begun
If you all dont want those jobs at $17 dollars an hour, it OK... we here in Mexico will gladly take them along with all that cheap immigrant workforce. Its nit that you arent making enouh money. Its that big corp is milking you dry with inflation on behalf of corporate profits in general
Peter rules .
Companies don’t have the leeway for their workers meanwhile ceos and shareholders reaching record profits.
You don't have to join the union to work there
It would be better if AI and robots go to jupiter or anything planet.. Not to replace human works
Massive raises lol
what is with Schiif's map behind him? come on- at least try
NO to the lazy members of the UAW! Imagine it they win! How many will then demand the same!!!! SMH at lazy and selfish citizens!
Did you see how often the [resident of the UAW blinked because he knew that he was being fraudulent with his words and claims?!
Let the workers be replaced by Robots! If it happens then they will deserve it!!!!!
Fight Afghan, checked.
Fight Iraq, checked.
Fight Russia, checked.
Fight China, checked.
Fight inflation, checked.
loser, checked.
Thanks for bringing up the Jewish calendar, peter. Now tell us more about how the jews relate to this problem. Because they do.
As usual, the American taxpayer gets screwed - yeah, and who is doing that?
God's speeds
Who is interviewing who here?😂
replace them with AI and robots.
They want $300k a year if you include pay and benefits
Why not? The office workers make six figures I did not say earn because they do not earn their money overpaid jobs.I was a steel worker in the 80's earning 11.45 an hr in a hot box while AT&T workers are earning 75,000+ and talk half the day I was in the AT&T building a girl I dated worked there.She did not have a degree but earned 48,000 first year.More you know the less you work.America going down.
Peter you’re speaking flames but you need a better mic
If you are pushing Trumeconomics, G-d help us.
Just start calling it what it is Pete- the CP Lie!
This is what the People Voted in, now they what us to fix it for them..,
32hrs of work for 40hrs of pay😂
What's wrong with that?
Hes so happy about the Recession coming in, like hes super excited to be witnessing it.
A recession is a good time to get rich. Step in and buy up goods pennies on the dollar. Eventually recessions end.
@@spacemanwithraygun3933yeah people with stocks might be for a rude awakening soon specialy tech
No new car's on the lot's or in inventory for last 2-3 years , these are NO show jobs , fire the bums !
Mexico will workers well work seven days a week lower wages lower benefits they won’t take vacation. Jobs go to Mexico.
all I see is more jobs going abroad
Unions. “Harboring “clock-suckers” since day 1
Are you better off now than you were 4 years ago?
❤😂🎉
Mr.schiff always giving the brutal honesty about the economy.
Dude you have no clue. Fain was on the floor not long ago.
Peter nailed the interview
What is it with all this spam in the comments?
a perfect financial storm is coming. it's going to get a lot worse over the next few years. There is a reason that Warren Buffet now has nearly $300 million in cash available. He knows this thing is about to crash and he wants to jump quickly on the opportunities that will arise.
Gold will be above 2k soon and will probbably be at $2,300 or even more by 2025
My opinion 😁
Been hearing this forever now 🤣
Of course. Bring in politics when it's not about politics. Really complaining about union dues? I pay 70 a month in dues. I get free health insurance for whole family plus company pays 140 a month into health savings account. How many companies do that for their blue collar workers. Yes I gladly pay union dues.
It has nothing to do with cars moving to electric, it's all about younger individuals who want more for doing less. This is why cars cost over $50,000 now and it's a result of not just inflation but also wage inflation which our great American companies are burdened with.
You’re actually missing the point. Tesla and Chinese ev makers are disrupting the auto industry. When this happened I and other tesla long time investors were not surprised at all. We already pegged the big 3 to go bankrupt the next 5-10 years but now they will go bankrupt much faster.
Part of a very important coin been talked about in the BCL
Great commentary as always