Recent Ford lay off.

Your recent episode of D@W you talked about Ford's decision to lay off 10,000 workers. According to research by the CAW, one job inside the plant will support 8 jobs outside the plant. so that 10,00 worker lay off represents a loss of 80,00 jobs for the community! Staggering numbers.

Official response from submitted

Indeed, those numbers are staggering and more auto layoffs are coming as the irrationality of mass buying (low interest rates, discounts to climb out of the 2008-2010 crash, and endless promises of "recovery") led to way too many auto purchases on long-term credit deals that are now too much for the US working class to cover. Another bubble - the auto/credit bubble bursts and threatens economic repercussions all over the place.

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  • Richard Wolff
    responded with submitted 2017-06-05 21:47:21 -0400
  • Ivar Plavinskis
    published this page in Ask Prof. Wolff 2017-06-05 14:38:34 -0400