This is currently mostly just shaping. As in Ukraine really destroys some refineries and other infrastructure, so they are nearly impossible to fix. Then in half a year, when the winter arrives, they can hit all the other infrastructure at the same time so, Russia needs to shut down wells and those wells then freeze.
The US auto industry was already in bad shape, when Trump took office. GM has sold most of its European parts in 2017 and is currently mostly in the US, China and a bit in Brazil. Obviously they have a bad time in China. Ford also was hit hard in China nearly a decade ago. Nothing to do with EVs, just not being competitive and the European business is in decline since 2020. Chrysler was bought by Fiat.
The only American car brand hit by Chinese EVs outside the US is Tesla. But even that is to a large degree other car companies just building better EVs. Not just Chinese ones.
I was just trying to point out, that the definition of not working is problematic. It includes pensioners and it excludes a lot of people, who I would call rich, like say Fortune 500 CEOs. It therefore needs to be enough capital to allow a passive income well above global average. A good number would imho be something like USD 1,000,000 to be a proper capitalist. And yes a lot of US Americans are rich.
US American pensioners lowest possible social security payment is higher then the median Chinese wage. Cry me a river.
The production of the workers labour is basically split three ways: Wage, company profit and taxes. If the workers productivity does not change, an increasing the wage is therefore going to reduce profit and/or taxes.
In a public pension, there is some sort of tax, which is taken from workers to pay the pensions. If you want to increase pensions, you need to increase those taxes, hence everything else being equal you lower the real wage of workers.
Why give more to the workers, when you can take it yourself?
Solution:
And, if you assume retirees fund their retirements through investments (which is not generally true btw, private pensions are not the only model), this holds on some level for retirees as well. If their income depends on the profits of some company, then it is not to their benefit if that company needs to pay workers more.
When you have a public pension, the difference is just that you do not take it via profit, but via some sort of tax. So for pensioners in general, they do not want to increase the real pay of workers. It is also hard to argue that a government pension is not a form of wealth, when something similar on the private market is considered that.
It is not. The beauty of it is, that the project is open source, so others can fork it or maybe just add features they want. Since it is decentralized, it is also easy to not go to ml or other instances.
The simplest way to classify “rich” is capitalist class. Those that no longer perform labor. Instead, their wealth passively generates wealth that sustains their lifestyle.
That means everybody who managed to retire is rich.
That is why we need to set up systems, to allow workers to buy out companies. They can cause a lot of troubles for owners as well.
view more: next ›
LOL