Inflation is bad but the union demands are injurious to the entire country via cost push inflation. Like fast food restaurants these wage demands will only speed up automation and encourage illegal hiring. Regarding demand, prices will increase and fewer people will buy new cars, eventually causing the end of dominance (not that we still have it) of the American auto industry. I recently suffered the loss of a 1 year old vehicle. Thankfully the insurance settlement was fair. When I looked for a replacement, a similarly equipped new vehicle would cost me $8-9,000 more than I paid 2 years ago. The difference being an increased base cost plus changes in vehicle configurations and increases in option packages. Needless to say I have not purchased a replacement vehicle and find myself drawing on these funds for other expenses, especially insurance and utility costs.
what these mopes don’t realize is EVs have 90% less parts...meaning significantly less labor to make said parts.... and components included in EVS are not competitive to manufacture in US.
Setting themselves up like USW did in 1960 with Clause 2B in their contract- (no headcount reduction due to improvement). Starting the mid 70s, companies just shut off the blast furnaces, forever shuttering uncompetitive mills with early 20th century technology and methods.
Wages are NOT causing inflation. Wages declined 3.5% Y o Y.