Changes in business investment have always been an indicator of future growth in output and employment – not vice versa, as Keynesians argue. And in Q3, business investment came to a standstill. In previous quarters it was investment in new structures (offices, manufacturing plants etc) that kept business investment contributing about 1% pt to quarterly growth. But in Q3 that has evaporated.
On October 17, the United Auto Workers’ strike passed its thirty-third day. There are three new points that should be focused on. They are the decision to strike Kentucky Truck, Bill Ford’s attempt to do an end-run around the union leadership, and the mounting repercussions of the strike.
The Democrats campaigned against Trump’s cruelty and capitalized on outrage towards his racist policies to win elections in 2018 and 2020. But once in office, the Democrats deliver not the sharp break with these policies their supporters expect, but a “lesser evil” that shaves off the roughest edges, applies some liberal rhetoric, and ends up normalizing the policies it claimed to oppose.
Even though the strike is continuing, the union has already made significant progress at the bargaining table. Most importantly, on October 6, General Motors agreed that future production of batteries for electric vehicles would be done by UAW members.
The mood of the strikers continues to be high. Chanting is frequent. There is constant honking by passing trucks and cars. The picket lines are well organized with captains, food and water tents, and all the other necessary supplies. Members of other unions are greeted warmly. Strikers are well briefed on the major objectives of the union at the bargaining table. The union’s escalating Stand UP strike strategy seems to be popular.
The strikers’ mood is upbeat. A September 23 rally organized by UAW Local 551 at the Chicago Ford Assembly Plant is a good example of this. Workers, in their bright red UAW T-shirts, took part in a call and refrain chant. The organizer would call out the name of a section of the plant: trim, paint, etc. The workers would then respond, “Strike It Out!” It was clear at the rally careful preparations had been made if the plant was chosen to strike in the escalating strike program.
The UAW now has the opportunity—perhaps its last—to revive the class struggle, which is the only way to begin to reverse the balance of class forces weighted so heavily in favor of the employers for so long.
Risch’s position threatens the health and well being of Palestinian children who are refugees while disregarding the misdeeds of the apartheid state next door that denies Palestinians their fundamental rights, including the right of UNRWA-assisted children to return to homes and lands from which their families were expelled.
As Hollywood celebrates the release of Oppenheimer, protests have focused on the devastating impact of the Trinity atomic test in New Mexico on local Hispanic and indigenous communities. The protests have brought attention to the ongoing struggle of the communities for recognition and compensation, and the film’s whitewashing of racism during the development and testing of the bomb.
Aldean has been known to sport the Confederate flag on t-shirts as recently as 2019. He also established himself as anti-vax and anti-mask during the pandemic. He has given voice to Trump’s stolen election conspiracy theory.
“Even a plurality of voters who have an unfavorable opinion of labor unions (48%) support the strikes.”
There can be a relative autonomy of base from superstructure. Importantly, the superstructure can in turn reflect back and impact upon the base. There are many factors other than the economy that need to be taken into account when examining a particular conjuncture.
An array of liberal and left-wing pundits is already blaming West in advance for the unpopular Biden’s (potential) loss to the (as yet unnamed) Republican candidate next year. Apparently, the conventional wisdom even among most self-described socialists is that it is our job to ensure Biden’s victory, even though he has done nothing to earn it.
Trump is the odds-on favorite to be the Republican nominee for the 2024 presidential election. For him, winning the presidency is his existential goal. Lose, and any conviction he receives will subject him to financial ruin and prison time.
Wages and adequate staffing are the central issues in the strike. These issues go hand in hand. Wages have to be high enough so that workers will want to stay at Loretto and not move to higher paying hospitals. With the recent state funding, management could certainly pay for the union demands.
