They plan to make a killing in the repossession market as hard working honest middle class American were once again duped into believing honor, honestly, equality and fair play applied.
This only works because we play by the rules they make, but ignore themselves.
A fire sale they want, a bonfire we shall have... let's make it a point to visit them often.
Central back receivership. They go bust, blame the citizens and repossess hard assets.
Central bank 101. Stack money during the boom, spend it when main street goes bust. Every 10 years we have this vacuuming up of assets during an engineered financial anic.
This recent, unusual moment of worker leverage made Bank of America quite anxious. The memo expresses distress about “a record tight labor market,” stating that “wage pressures are … going to be hard to reverse. While there may have been some one-off increases in some pockets of the labor market, the upward pressure extends to virtually every industry, income and skill level.”
They hate the high wages. It's making it harder to break people financially.
“If you did see continually accelerating wage-growth, it would be a problem,” Dean Baker, senior economist at the Center for Economic and Policy Research, a liberal Washington, D.C., think tank, told The Intercept in an email. “That would almost certainly mean a wage-price spiral with ever higher inflation. However, [nominal] wage growth has slowed sharply from around a 6.0 percent annual rate to just over 4.0 percent in recent months. … So, [Bank of America wants] the Fed to raise rates (and unemployment) to attack a problem (accelerating wage growth) that doesn’t exist in the world.”
BOA wants the wage growth to stop. It's allowing people to get by and make demands of their employers.
The memo therefore tells us what we suspected all along: The most powerful economic actors in the U.S. — entities like Bank of America and its clients — do not like working people to have power. But it’s nice to have it in their own words. Harris, the author, was not available for comment.
I work for a large bank, and I know they hate that they have to raise the wages for their employees or risk a bunch of ppl finding new jobs elsewhere. My entire bank (a large global bank) is severely understaffed. Has been ever since covid. They need us more than we need them right now
My cousin's workplace HATES raising wages, but they had to do it. Everyone was leaving. No one would stay because wages went up elsewhere. They finally, bitterly gave everyone a $4 wage just to retain staff. I've heard a log of the big corporations grumbling so much about how awful it is that employees can make demands. This is one reason that employees are continuing to work from home. Companies want to force them back into the office (with sky high gas for commutes) but they'll quit. Companies are gnashing their teeth.
The wage hikes are allowing many to get by even though gas went up. The wage hikes are saving a lot of people from going under.
I have also noticed my company treating employees way better now- not because they want to or because it’s the right thing to do, it’s bc they HAVE to or we will leave. There are just so many opportunities right now. I see some ppl online talk about how they can’t find a job, and I truly don’t understand it. There are jobs - pretty good paying jobs- available everywhere. Every single company is short staffed. I just want to know where all the workers have gone…
They plan to make a killing in the repossession market as hard working honest middle class American were once again duped into believing honor, honestly, equality and fair play applied.
This only works because we play by the rules they make, but ignore themselves.
A fire sale they want, a bonfire we shall have... let's make it a point to visit them often.
Central back receivership. They go bust, blame the citizens and repossess hard assets.
Central bank 101. Stack money during the boom, spend it when main street goes bust. Every 10 years we have this vacuuming up of assets during an engineered financial anic.
The "Central Bank Carousel of Clowns" goes round and round, and they are the only ones merry.
Burn it all down !!
They have robbed our wealth, our health, our dreams, our children, our lives for far too long.
Burn it all down !!
u/dty6 u/lonewulf
https://www.rsn.org/001/bank-of-america-memo-revealed-we-hope-conditions-for-american-workers-will-get-worse.html
They hate the high wages. It's making it harder to break people financially.
BOA wants the wage growth to stop. It's allowing people to get by and make demands of their employers.
So this in interesting. Boeing mfg workers are striking Monday in StL.
"The memo, a “Mid-year review” from June 17..."
I work for a large bank, and I know they hate that they have to raise the wages for their employees or risk a bunch of ppl finding new jobs elsewhere. My entire bank (a large global bank) is severely understaffed. Has been ever since covid. They need us more than we need them right now
who would be a good band to switch to from bank of america? or are they all bad?
I would find a good local credit union. I feel like all of the big banks are pretty corrupt
Local credit union
My cousin's workplace HATES raising wages, but they had to do it. Everyone was leaving. No one would stay because wages went up elsewhere. They finally, bitterly gave everyone a $4 wage just to retain staff. I've heard a log of the big corporations grumbling so much about how awful it is that employees can make demands. This is one reason that employees are continuing to work from home. Companies want to force them back into the office (with sky high gas for commutes) but they'll quit. Companies are gnashing their teeth.
The wage hikes are allowing many to get by even though gas went up. The wage hikes are saving a lot of people from going under.
I have also noticed my company treating employees way better now- not because they want to or because it’s the right thing to do, it’s bc they HAVE to or we will leave. There are just so many opportunities right now. I see some ppl online talk about how they can’t find a job, and I truly don’t understand it. There are jobs - pretty good paying jobs- available everywhere. Every single company is short staffed. I just want to know where all the workers have gone…
U killed too many people but not quite enough. Labor market let's us write our own tickets. Best news is the dead are mostly your own sycophants.
Employers would do well to rehash what happened to that one Italian leader at the ass end of that one war we had. Employees are capable.