Posted on 10/03/2023 4:10:09 AM PDT by MtnClimber
The UAW should be going on strike against Biden, not Ford and GM.
Biden spent 12 minutes on the UAW picket line. “You guys, the UAW, you saved the automobile industry back in 2008 and before,” he told the striking automotive workers.
“Wall Street didn’t build the country. The middle class built the country.”
And then he flew off to San Francisco for a fundraiser at Atherton, California, the most expensive area in the Bay Area, for a fundraiser at the $33 million home of Mark Heising: a Democrat megadonor who is also the Chair of the Environmental Defense Fund. Heising’s Medley Partners manages funds for his father-in-law and Renaissance Technologies founder Jim Simmons who has been described as “the greatest modern day moneymaker on Wall Street.”. So much for the pretense of choosing the “middle class” over Wall Street.
Biden may spend 12 minutes and speak for 87 seconds at the UAW picket line, but he spent hours raising money in the Bay Area which is the force destroying the automobile industry. In Michigan, Biden pays tribute to the middle class, but elsewhere, he bows to Wall Street.
The UAW didn’t save the American automobile industry in 2008, it helped nationalize it. And the Obama and Biden administrations used that leverage over the automobile industry to promote the Silicon Valley and environmentalist agenda of eliminating cars and replacing them with EVs.
Electric vehicles mark the death knell of the middle class. For Wall Street, EV companies like Tesla, funded by government fines on ordinary car manufacturers and buyers, offer the promise of getting in on the ground floor of a booming stock. Tesla has been followed by a series of other tech EV firms like Rivian (heavily backed by George Soros) that are not financially viable. Rivian, at one point, was spending $220,000 to make cars that it sold for $81,000.
But environmentalists are in love with EVs because they will end mass ownership of automobiles. The Biden administration, following the lead of Democrat states, is moving to end most sales of real cars by the 2030s. By 2032, 67% of cars are meant to be electric. And since 53% of Americans can’t afford EVs, that means most of the country won’t be able to own cars.
That’s bad news for automobile owners, it’s also bad news for automobile workers.
The UAW strike is a direct response to the growing investments by Ford and GM in EVs. These investments are deeply misguided and a complete disaster for shareholders. Ford loses an estimated $32,000 on every EV it sells and lost $3 billion in total on EVs in 2023. But don’t get the idea that Ford is selling many EVs. It only sold 61,575 EVs in 2022 and yet its projections say that it will sell 2 million in 2025. This is implausible without a government car ban.
But if Ford were to sell 2 million EVs, who’s going to cover the $64 billion in losses?
My 18(almost 19) year old car is still serving me pretty well. However, I may or may not be able to keep it going economically until I’m too old to drive. By that time it will be hard to say what the choices of another used car(at an affordable price) will be. Tell me what EV would do this, at the price I paid for this one, would be? It is still in good shape with low miles for it’s age. Even at this time, it is hard to find a reasonable replacement for it, should the need arise. I don’t look for that situation to get better.
Broken up or sold.
Either way the union would have been disempowered and the resulting company would have been leaner and meaner.
Anyone buying the company would be a fool to take the company with any obligation to take the UAW as part of the deal.
Trying to squeeze one more golden egg out of that dying goose.
I have a car that is almost(technically) 19 years old;bought it several years ago at a good price & with some repairs it has served me well. It performs well & is reasonably easy on gas, even compared to smaller cars with smaller engines. What I wonder about is what I could replace it with in the years I have left & living on S.S. You know an EV would not & could not be a choice in an affordable price range. Even the current ICE vehicles are not much of a choice as far as economy, quality, price & performance are concerned when they become used cars. Too much electronics, poor engines, and price will be major concerns.
Used EV vehicles are cheap. That is because of the huge cost of battery replacement. Insurance for EV vehicles is very expensive because even a minor accident can total them because the batteries are assumed to be damaged. And homeowners insurance can be impacted if you have an EV that could catch on fire and burn down your house. AND, they don’t sound cool.
China's Flagship EVs are Exploding in Huge Numbers
Get 'em while before they're hot!
You missed the point....... Like Black people in America, all EV’s in China are not the same
Point was not missed, subject of video is BYD which is top of the heap for CCP EVs.
The used car market is a mess right now. Used cars with lows miles cost nearly as much as new ones. These days an "affordable" used car might have +100K on the odometer and still cost an arm and a leg.
All by design, to do away with cheap personal transportation. It all goes back to Obama's "Cash For Clunkers".
Ditto that.........
I read that the CEO’s take their “environmentally-friendly” marching orders from Blackrock. That would explain their huge salaries in consideration of their counterproductive business decisions.
Please see post 52. It would support your statement.
Yep, foreign made and used is the way to go. Did you notice the “/sarc”? Meaning end of sarcastic comment. :)
I had my oil changed at at a multi oem dealership. There were just a handful of new cars on the entire complex. The Toyota lot was completely void of any new cars and had just a few used used cars. Ditto for Mazda, KIA and Hyundai..
I liked your original post better. LOL
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