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Tuesday, April 29, 2008

Good Greed

posted by on April 29 at 9:44 AM

We must not bemoan high gas prices. The positives in this staggering increase will surpass the negatives. We can see for once that corporate greed is proving to be good.

The world’s largest automaker by sales said the cuts, to take effect this summer, were brought on by weak demand due to high gasoline prices and an economic downturn. GM said it will make about 88,000 fewer pickups and 50,000 fewer big SUVs [the positive] this calendar year because of the cuts. The layoffs represent just over 4 percent of GM’s hourly manufacturing work force of about 80,000 in North America [the negative].
Low gas prices have always been an illusion. America is now finally encountering a reality that is found in all other parts of the world—petrol is, to use the worlds of Kuti, “expensive shit.”

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Wow, GM only has 80,000 workers left? That's kind of...insignificant.

And gas is not expensive. For it to take an equivalent portion of the average person's income as it did in 1980, it would have to rise to $150-160 a barrel. People today are just crybabies, wanting everything for free.

Posted by Fnarf | April 29, 2008 11:05 AM


I'm surprised it's that many, at least in the U.S.

Posted by keshmeshi | April 29, 2008 12:03 PM

which is why we shouldnt even try to protect their stupid fucking jobs. fuck protecting jobs that can't hack it. no one wants to lose their job but people don't stay unemployed forever and their new job is in something that the market for labor demands.

fnarf, exactly. when people have to pay nothing for a good they tend to not value it at all. such as roads.

Posted by Bellevue Ave | April 29, 2008 4:14 PM

Actually, petrol is still cheaper than bottled water, at least in the USA.

Posted by Will in Seattle | April 30, 2008 1:46 AM

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