Comments by "Kim O\x27Brien" (@kimobrien.) on "Stossel: Why Some Capitalists Are the Worst Enemies of Capitalism" video.

No he doesn't because he fails to say that a higher minimum wage means a shift in production away from luxury goods towards things workers need as a social class. People like him will pay higher prices for Lincoln Continentals and advertising budgets will get cut as waste as will talking heads like Strossel himself. His investments will yield lower rates as capitalism is unable to halt declining profit rates in industrial production. .
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Luxury Bosses make bigger profits because luxury is a fetish that can be sold like trinkets the Dutch bought Manhattan with. Bosses naturally don't want to pay for education because it would cut into profits. If they are faced with having to pay a higher wage they can raise prices and lose customers or cut other expenses like advertising, boss bonuses or profits themselves. They make their decisions based upon maximizing profits for themselves come hell or high water. A higher minimum wage means those workers will be able to spend more on things they need. This results in a shift in production away from luxury goods to workers necessities. As far as hiring and training goes capitalism always works to replace higher skilled labor with unskilled labor and machines. Capitalist supervisors are paid to get the longest hours at the fastest pace at the lowest wage in a pay period from those they watch for a living. The fact that they system itself enter into crisis and can't match all the labor available with the capital equipment is due to the natural tendency of long term profit rates to decline.
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@Andy-Christian All your doing is making excuses for the bosses. They can't afford this and they can't afford that but they can afford CEO pay and who knows what else they are hiding in their budget. Bonus for bosses, stock buybacks, advertising, and diversity training, WalMart has money to buy new computer systems to replace people and they can cut the pay of other bosses and plans to buy or invest. They can cut their trips to Las Vegas and donations to their foundations. We aren't interested in subsidising bosses who can't make a profit with low wages. They run everything based upon profits, Their profit system is coming to an end because of the declining rate of industrial profit. That's why we say the workers can't accept this close everything down because we can't make a profit. They wasted 5 trillion dollars destroying Iraq and Afghanistan. You want to die and sacrifice for them and their profit system that's your decision but don't expect me to follow.
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@Andy-Christian Why do you want a bunch of slaves washing cars to begin with? Seems to me that's a luxury service and if it gets replaced by automatic car washing that's a good thing. We don't want jobs that are just those of digging a hole and filling it up again. Same with the neoliberal argument that John Lewis made coal expensive compared to oil. Does it not make more sense to burn oil and gas than coal? Is not oil drilling and extraction safer than coal mining. Coal will probably always be needed to make raw steel. We want a system where people can change jobs without economic hardship. We don't want this business where people are thrown out of work, ignored, and treated like dirt on a shoe.
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@Andy-Christian Does the boss guarantee a life time JOB either? From a sensible point of view and not one based upon a boss making a profit than on the job training fulls two functions it creates value as the worker trains and he isn't put in the position of being told he didn't get the right training or some other reasoning after he spent both time and money on outside of work education. The bosses want all the choke points in the economy so they can extract profits. The want the all the gains and make us take all the losses.
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@Andy-Christian If the bosses can no longer afford to hire personal servants like pool boys, landscapers and other kinds of luxuries that's just too bad. If the can't afford to build the next missile defense system or keep up with their nuclear weapons posture I'm not going to shed any tears.
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@Mitjitsu No it wasn't Bosses like Henry Ford who were racist to the very core. Hitler translated and republished "The International Jew." published by Fords paper the dearborn independent. The minimum wage law was passed after the Great Sit Down Strikes by the UAW at GM. Bosses in South Africa were behind the Apartheid including Ronald Reagan. If companies like Amazon are raising wages without a union its because like Henry Ford they can no longer get the work done with the social conditions they impose. Bosses line up together as a class punishing only renegades when absolutely necessary. That's why Trump is under fire and an occasional Boss goes to jail.
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@Cjnw The only place crypto is headed is into the toilet like the credit default swaps. You can't turn a record of trades into value by mining meaningless special numbers.
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@Mitjitsu Sure along comes some cockroach boss who wants to hire at lower wages so he can make himself bigger profits in the market. In trucking the Teamsters under Trotskyist leadership took in workers who owned their own Truck but not cockroaches owners of two or more trucks seeking a lower wage rate. You want to be a boss go play by their rules then.
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@56jklove They grow big and then they rate of profit goes down and then they need to use monopoly tactics to keep up the rate of profit. Each group of capitalist is in competition to try are raise profit rates. This is why they seek to drive down the cost of labor by working us the longest hours at the fastest rate and at the lowest wages. They seek to pay just enough to get you back for the next pay period. They want to control the price of labor the price of the commodity and money in circulation. Our labor produces a surplus which is the origin of both the profit and the taxes that that the bosses collect to fund the government. The bosses want to control what the government spends money on because they see taxes as money that could be going in their pockets.
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@yashpatel261 The bosses only want you as long as the can squeeze the most out of you. The old, the sick, the infirm they just want to throw on a scrap pile The greed of the bosses and their system of private profits for them is whats causing most of the problems in the world today. The other is the delay in taking the industrial system of production away from their greedy hands and the workers taking control of production and distribution. .
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The only thing increasing market competition brings is layoffs, consolidation, bailouts and the next war for bigger profits. The profit drive of the bosses runs up against the tendency of the long term profit rates to decline. While the bosses may be making record aggregate profits they can't escape the long term tendency of the rate of profit by which they judge success to decline. They are in a world crisis of their own making.
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@wayneyoung9061 No such thing. A market is a place of conflict. It always requires a eith a second pr third pasty to act as a regulator or controller. A market requires a policeman to contain conflict.
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@wayneyoung9061 Some things don't belong in markets. By abolishing private property you cloes down the stock and bond markets.
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@wayneyoung9061 No you don't because the production workers will decide to abolish it in the class struggle by creating a labor party. The capitalist are the ones who need an oppressive government to defend their crisis ridden profit system which can only lead to war and depression.
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