By PETER MOLENAAR
It was a bearing on car 32 which was “trending hot” beneath its load of ethanol (boom?!) Nonetheless, the crew of the two mile long train was ordered to proceed, even as they approached a heavily populated area.
Why?
Moreover, for some folks, our entire economy had become “too hot to handle.” As it happened, a delegation of ruling-class types was deployed to tinker with the Federal Reserve (Oops!). In the process they managed to kill a few lesser banks, although their intent was merely to trigger a degree of recession (i.e., stymie wage growth) by raising interest rates.
Remember the “Volker Schock” of 1979? I sure do. At the time, I was living in East Phillips and had just begun my employment at Smith Foundry. However, a period of mass layoffs would soon ensue, along with plant closings and anti-union campaigns all across the land. “The standard of living has to decline.” So said the chairman of the Federal Reserve.
Is it fair to fight inflation by quashing wage growth? Gosh, golly, no. Indeed, some good people at the Economic Policy Institute have crunched the numbers on our behalf. Actually, fatter profit margins account for 54% of inflation since the pandemic started and, oh my goodness, wage costs have contributed only 8%! Then, in the category of “other,” factor in ballooning energy prices in consequence to the war in Ukraine, a proxy war which could have been prevented.
So, stay tuned for all manner of reform proposals from friendly Democrats. Let us not forget, however, that the irrationality of capitalism and the undemocratic political-financial super structure that manages it are, in fact, incompatible with the principle that our economy should serve the people. But, until socialism is won, the next time you hear someone on television talking about “cooling off the economy”, just know that they’re coming for your job and your paycheck.
Note from Peter: much of the above was extracted from C.J. Atkins as found at PeoplesWorld.org.
Peter Molenaar is bulk distributor of the alley. As such, he is likely familiar with more of the “nooks and crannies” within Phillips than anyone else alive.
