1 00:00:00,760 --> 00:00:03,720 Speaker 1: Hey, guys, ready or not, twenty twenty four is here 2 00:00:03,880 --> 00:00:06,280 Speaker 1: and we here at breaking points, are already thinking of 3 00:00:06,400 --> 00:00:08,600 Speaker 1: ways we can up our game for this critical election. 4 00:00:08,800 --> 00:00:11,719 Speaker 2: We rely on our premium subs to expand coverage, upgrade 5 00:00:11,760 --> 00:00:15,880 Speaker 2: the studio ad staff give you, guys, the best independent coverage. 6 00:00:15,560 --> 00:00:16,239 Speaker 3: That is possible. 7 00:00:16,280 --> 00:00:18,320 Speaker 2: If you like what we're all about, it just means 8 00:00:18,320 --> 00:00:20,840 Speaker 2: the absolute world to have your support. But enough with that, 9 00:00:21,000 --> 00:00:37,720 Speaker 2: let's get to the show. As promised, I'm going to 10 00:00:37,720 --> 00:00:40,640 Speaker 2: do a live breakdown of the NASA UFO report. A 11 00:00:40,680 --> 00:00:43,840 Speaker 2: top line just got to admit, there's nothing particularly revelatory, 12 00:00:43,880 --> 00:00:46,560 Speaker 2: but there were some words from the NASA Administrator Bill 13 00:00:46,680 --> 00:00:48,360 Speaker 2: Nelson about what the report found. 14 00:00:48,479 --> 00:00:49,880 Speaker 4: Let's take a listen, and the. 15 00:00:49,800 --> 00:00:53,080 Speaker 5: Top takeaway from the study is that there is a 16 00:00:53,080 --> 00:00:58,240 Speaker 5: lot more to learn. The NASA independent study team did 17 00:00:58,240 --> 00:01:03,160 Speaker 5: not find any evidence that UAP have an extraterrestrial origin, 18 00:01:04,560 --> 00:01:09,320 Speaker 5: but we don't know what these UAP are. 19 00:01:09,640 --> 00:01:12,160 Speaker 2: Okay, so no evidence as usual of the line, no 20 00:01:12,240 --> 00:01:15,040 Speaker 2: evidence of X terrestrials, but we also don't really know 21 00:01:15,080 --> 00:01:18,640 Speaker 2: what UAP otherwise known as UFO are. Let's go ahead 22 00:01:18,640 --> 00:01:20,640 Speaker 2: and put the report up there on the screen, and 23 00:01:20,720 --> 00:01:24,360 Speaker 2: let's give a very short breakdown for everybody that has it. Effectively, 24 00:01:24,400 --> 00:01:26,280 Speaker 2: what you can see in front of you is that 25 00:01:26,360 --> 00:01:29,720 Speaker 2: the NASA report is not really finding of anything. It's 26 00:01:29,800 --> 00:01:33,639 Speaker 2: just an independent steam report to study team report about 27 00:01:33,640 --> 00:01:37,000 Speaker 2: how to further gather more data. So the report is 28 00:01:37,040 --> 00:01:40,440 Speaker 2: about forty pages long. We've gone through the entire thing here. 29 00:01:40,640 --> 00:01:44,360 Speaker 2: It effectively has multiple different recommendations about how to use 30 00:01:44,680 --> 00:01:47,520 Speaker 2: the Space program and the satellites and other things that 31 00:01:47,560 --> 00:01:50,520 Speaker 2: are available to NASA in order to gather as much 32 00:01:50,600 --> 00:01:54,200 Speaker 2: data as possible about potential UAPs. They talk about the 33 00:01:54,320 --> 00:01:57,720 Speaker 2: use of artificial intelligence and machine learning as it applies 34 00:01:58,040 --> 00:02:01,480 Speaker 2: to the vast amount of data that NASA hall, and 35 00:02:01,600 --> 00:02:03,240 Speaker 2: some of the bigger things that came out of the 36 00:02:03,240 --> 00:02:05,760 Speaker 2: press conference from Bill Nelson as well was that they 37 00:02:05,760 --> 00:02:10,360 Speaker 2: were having a dedicated administer to a dedicated administrator for 38 00:02:10,480 --> 00:02:14,519 Speaker 2: the UAP phenomenon in house. So overall, no finding, it's 39 00:02:14,600 --> 00:02:19,000 Speaker 2: more of an intention to study UAP, and the actual 40 00:02:19,240 --> 00:02:23,160 Speaker 2: report is about setting up the procedures and the ways 41 00:02:23,160 --> 00:02:26,079 Speaker 2: that we would go about collecting said data about it. 42 00:02:26,280 --> 00:02:30,600 Speaker 2: They did mention a couple of the infamous like UAP sightings. 43 00:02:30,760 --> 00:02:33,040 Speaker 2: They talk about the go fast video, where they imply 44 00:02:33,840 --> 00:02:37,160 Speaker 2: at the bottom actually of the report that they claim 45 00:02:37,280 --> 00:02:39,880 Speaker 2: that the object may not be moving as fast as 46 00:02:39,919 --> 00:02:43,520 Speaker 2: it appears, according to some analysis that's far too complicated 47 00:02:43,520 --> 00:02:45,359 Speaker 2: for me to get into. You can go and read 48 00:02:45,400 --> 00:02:48,880 Speaker 2: it yourself. They talk also about the mosel Orb about 49 00:02:48,880 --> 00:02:52,959 Speaker 2: how it does remain unidentified, and then a previous object 50 00:02:52,960 --> 00:02:55,239 Speaker 2: that had been spotted, which they say that they believe 51 00:02:55,400 --> 00:02:58,680 Speaker 2: was a commercial airliner. So look, overall, I guess this progress. 52 00:02:58,720 --> 00:03:01,079 Speaker 2: You know, we've got reports we've been coming out. We're 53 00:03:01,080 --> 00:03:03,160 Speaker 2: going to gather more data and we'll see what we find. 54 00:03:03,160 --> 00:03:05,520 Speaker 2: But that's basically all we've got. I'll see you guys later. 55 00:03:08,360 --> 00:03:11,720 Speaker 6: Turning to the economy, the Federal Reserve today raise its 56 00:03:11,840 --> 00:03:14,600 Speaker 6: key interest rate by a quarter of a percentage point, 57 00:03:15,000 --> 00:03:18,640 Speaker 6: the eleventh such increase since March of last year. Brings 58 00:03:18,720 --> 00:03:21,720 Speaker 6: rates to a range between five point two five and 59 00:03:21,840 --> 00:03:25,360 Speaker 6: five point five percent, the highest it's been in twenty 60 00:03:25,400 --> 00:03:26,080 Speaker 6: two years. 61 00:03:26,320 --> 00:03:29,040 Speaker 1: Interest rates are the highest they've been in twenty two years, 62 00:03:29,080 --> 00:03:31,959 Speaker 1: and Fed Chairman Jerome Powell has signaled that additional rate 63 00:03:32,000 --> 00:03:34,440 Speaker 1: hikes are possible before the end of the year. 64 00:03:34,680 --> 00:03:37,960 Speaker 7: Although inflation has moved down from its peak a welcome development, 65 00:03:38,440 --> 00:03:42,080 Speaker 7: it remains too high. We are prepared to raise rates 66 00:03:42,120 --> 00:03:45,760 Speaker 7: further if appropriate, and intend to hold policy at a 67 00:03:45,760 --> 00:03:49,400 Speaker 7: restrictive level until we are confident that inflation is moving 68 00:03:49,440 --> 00:03:51,880 Speaker 7: sustainably down toward our objective. 69 00:03:52,400 --> 00:03:54,960 Speaker 1: They say that rate hikes are necessary to tamp down 70 00:03:55,000 --> 00:03:58,800 Speaker 1: inflation and restore price stability. But could there be something 71 00:03:58,920 --> 00:04:13,520 Speaker 1: more sinister at play? Let's find out. The Federal Reserve, 72 00:04:13,640 --> 00:04:16,120 Speaker 1: established in nineteen thirteen, stands as one of the most 73 00:04:16,120 --> 00:04:19,760 Speaker 1: influential financial institutions in the United States, if not the 74 00:04:19,920 --> 00:04:23,919 Speaker 1: entire world. The Fed's primary mission is twofold. First to 75 00:04:24,040 --> 00:04:27,480 Speaker 1: maximize employment, meaning to ensure as many Americans as possible 76 00:04:27,520 --> 00:04:31,880 Speaker 1: have jobs, and second to maintain price stability, meaning ensuring 77 00:04:31,920 --> 00:04:35,479 Speaker 1: the money you have today holds its value tomorrow. To 78 00:04:35,520 --> 00:04:38,360 Speaker 1: achieve these goals, the Fed can wield several tools, but 79 00:04:38,440 --> 00:04:41,760 Speaker 1: perhaps none is as powerful or as often discussed as 80 00:04:41,839 --> 00:04:44,400 Speaker 1: the interest rate, which we can simply define as the 81 00:04:44,440 --> 00:04:47,920 Speaker 1: cost of borrowing money or the return earned from lending it. 82 00:04:48,200 --> 00:04:50,800 Speaker 1: By adjusting these rates, the Federal Reserve can influence the 83 00:04:50,800 --> 00:04:54,239 Speaker 1: pace of the nation's economic activity. Lower interest rates encourage 84 00:04:54,240 --> 00:04:58,240 Speaker 1: more borrowing and spending, which stimulates economic activity, and higher 85 00:04:58,240 --> 00:05:02,440 Speaker 1: interest rates disincentivize spend by making barring more expensive, which 86 00:05:02,480 --> 00:05:05,599 Speaker 1: in turn slows down economic activity. At a recent FED 87 00:05:05,600 --> 00:05:09,200 Speaker 1: retreat in Jackson, Hollwayoming, FED Chair Jerome Powell called inflation 88 00:05:09,360 --> 00:05:12,760 Speaker 1: still too high and warned to further rate increases in 89 00:05:12,800 --> 00:05:16,400 Speaker 1: the coming months. A byproduct of sustained interest rate hikes is, 90 00:05:16,480 --> 00:05:19,680 Speaker 1: of course, a recession, which would put millions of Americans 91 00:05:19,720 --> 00:05:22,880 Speaker 1: out of work and cause serious financial distress for many 92 00:05:22,960 --> 00:05:26,320 Speaker 1: working class Americans. So it's natural that the Fed's decision 93 00:05:26,360 --> 00:05:30,360 Speaker 1: to hike interest rates has ignited a firestorm of online conspiracies, 94 00:05:30,520 --> 00:05:33,880 Speaker 1: with theories ranging from the Fed intentionally inducing a recession 95 00:05:33,880 --> 00:05:36,440 Speaker 1: to favor the wealthy, to the government altering the very 96 00:05:36,480 --> 00:05:39,479 Speaker 1: definition of a recession, or even the Bureau of Labor 97 00:05:39,520 --> 00:05:43,799 Speaker 1: Statistics manipulating metrics like the consumer price index and unemployment figures, 98 00:05:44,040 --> 00:05:47,200 Speaker 1: all seemingly pointing to the end goal of bolstering monetary 99 00:05:47,240 --> 00:05:50,479 Speaker 1: policies that might predominantly serve Wall Street's interests. 100 00:05:50,680 --> 00:05:53,320 Speaker 3: I have to say, is it possible for a government 101 00:05:53,360 --> 00:05:55,719 Speaker 3: to light to with one thousand percent? Of course, it's possible. 102 00:05:55,720 --> 00:06:00,000 Speaker 1: This is Christopher Clark, an economics professor at Washington State University. Recently, 103 00:06:00,279 --> 00:06:02,200 Speaker 1: I spoke with him to explore whether or not there 104 00:06:02,240 --> 00:06:04,320 Speaker 1: is any credence to the idea that the FED could 105 00:06:04,360 --> 00:06:07,240 Speaker 1: be acting in a various ways, meaning that instead of 106 00:06:07,279 --> 00:06:10,719 Speaker 1: setting monetary policy aimed at achieving their dual mandate, the 107 00:06:10,839 --> 00:06:14,039 Speaker 1: raising or sometimes lowering of interest rates could actually be 108 00:06:14,240 --> 00:06:16,360 Speaker 1: serving an entirely different purpose. 109 00:06:17,000 --> 00:06:18,920 Speaker 3: Workers saying I don't want to drive into the city 110 00:06:18,960 --> 00:06:20,720 Speaker 3: an hour and a half and drive home an hour 111 00:06:20,720 --> 00:06:23,120 Speaker 3: and a half every day. But I also think a 112 00:06:23,200 --> 00:06:25,800 Speaker 3: nice little recession will clear this a nice. 113 00:06:25,560 --> 00:06:28,360 Speaker 1: Little recession to get the workers back into line. And 114 00:06:28,400 --> 00:06:32,320 Speaker 1: he's not the only billionaire CEO saying something to that effect. 115 00:06:32,800 --> 00:06:36,080 Speaker 8: Well, it's clear that we have an inability to get 116 00:06:36,080 --> 00:06:37,960 Speaker 8: the unemployment rate as high as the FED would like. 117 00:06:38,320 --> 00:06:40,360 Speaker 8: The unemployment rate is three point five percent. I think 118 00:06:40,360 --> 00:06:41,920 Speaker 8: the FED would like it to be higher. They won't 119 00:06:41,920 --> 00:06:44,040 Speaker 8: publicly say they want it to be five or six percent, 120 00:06:44,720 --> 00:06:47,080 Speaker 8: but there's a tight labor market, and because the market 121 00:06:47,200 --> 00:06:49,279 Speaker 8: is so tight, they can't get the unemployment rate as 122 00:06:49,360 --> 00:06:51,599 Speaker 8: high as they would like. And that's a big problem 123 00:06:51,680 --> 00:06:52,200 Speaker 8: for them. 124 00:06:52,320 --> 00:06:54,960 Speaker 1: They can't get the unemployment rate as high as they'd like, 125 00:06:55,480 --> 00:06:59,440 Speaker 1: and it's a big problem for them, says the billionaire CEO, 126 00:06:59,480 --> 00:07:01,800 Speaker 1: who would be happy if you lost your job, and 127 00:07:02,120 --> 00:07:05,080 Speaker 1: who also just happens to be Jerome Powell's old boss 128 00:07:05,120 --> 00:07:07,719 Speaker 1: at the Carlisle Group, one of Wall Street's largest and 129 00:07:07,760 --> 00:07:10,960 Speaker 1: most influential private equity firms. Oh and guess who is 130 00:07:11,000 --> 00:07:13,840 Speaker 1: sitting across from the A nice little recession to get 131 00:07:13,840 --> 00:07:16,520 Speaker 1: the workers back in the line, billionaire CEO. Yes, the 132 00:07:16,560 --> 00:07:19,880 Speaker 1: same guy, CEO and co founder of the Carlisle Group, 133 00:07:20,040 --> 00:07:23,480 Speaker 1: David Rubinstein. You literally can't make this stuff up, So 134 00:07:23,520 --> 00:07:27,000 Speaker 1: I don't think we can fault people for connecting these dots, 135 00:07:27,360 --> 00:07:29,720 Speaker 1: pointing to the notion that the FED seems to be 136 00:07:29,760 --> 00:07:33,040 Speaker 1: setting monetary policy not on behalf of the economy as 137 00:07:33,080 --> 00:07:35,840 Speaker 1: a whole, but rather on behalf of their friends on 138 00:07:35,920 --> 00:07:36,480 Speaker 1: Wall Street. 139 00:07:36,920 --> 00:07:39,200 Speaker 3: There's certainly something to be said about a good old 140 00:07:39,240 --> 00:07:43,160 Speaker 3: boys club. And you know the billionaire CEO who claimed 141 00:07:43,240 --> 00:07:47,480 Speaker 3: that recessions are a good thing for getting workers back 142 00:07:47,480 --> 00:07:49,080 Speaker 3: in line, or it's a good thing for the macro 143 00:07:49,080 --> 00:07:51,760 Speaker 3: economy because it would need workers would be less lazy, 144 00:07:51,800 --> 00:07:57,120 Speaker 3: we'd get better productivity. That is is a tiny minority 145 00:07:57,160 --> 00:07:59,360 Speaker 3: position among among economists. 146 00:07:59,440 --> 00:08:02,280 Speaker 1: While that it might be true. Rubinstein has been on 147 00:08:02,360 --> 00:08:06,680 Speaker 1: record outlining the potential advantages of elevated interest rates. Quote, 148 00:08:06,720 --> 00:08:10,040 Speaker 1: the greatest fortunes are made by professional investors when things 149 00:08:10,080 --> 00:08:12,840 Speaker 1: are troublesome, he said, Right now, there are a lot 150 00:08:12,880 --> 00:08:14,360 Speaker 1: of complications. 151 00:08:13,680 --> 00:08:14,200 Speaker 6: In the market. 152 00:08:14,760 --> 00:08:17,920 Speaker 1: He points to one specific sector, real estate. You're going 153 00:08:18,000 --> 00:08:19,920 Speaker 1: to see some real estate debt is going to be 154 00:08:20,000 --> 00:08:23,040 Speaker 1: for sale at discounts to what it is today. He suggested. 155 00:08:23,280 --> 00:08:25,840 Speaker 1: That's probably going to be the biggest opportunity over the 156 00:08:25,880 --> 00:08:28,880 Speaker 1: next two or three years is discounted real estate debt 157 00:08:29,080 --> 00:08:31,679 Speaker 1: in large commercial office buildings in big cities. 158 00:08:31,920 --> 00:08:32,640 Speaker 3: So let's just be. 159 00:08:32,640 --> 00:08:35,440 Speaker 1: Clear, while the US economy is staring down a real 160 00:08:35,600 --> 00:08:38,719 Speaker 1: estate doom loop, so to speak, a story Crystal and 161 00:08:38,760 --> 00:08:41,360 Speaker 1: Sager have been following here very closely on breaking points. 162 00:08:41,760 --> 00:08:44,640 Speaker 1: Our guy Barry Sternlight who suggests that a recession could 163 00:08:44,679 --> 00:08:46,280 Speaker 1: be good in terms of getting the workers back in 164 00:08:46,320 --> 00:08:49,199 Speaker 1: the line. He happens to be the CEO of Starwood Capital, 165 00:08:49,559 --> 00:08:52,520 Speaker 1: a private investment firm with a primary focus on global 166 00:08:52,559 --> 00:08:55,840 Speaker 1: real estate. He is, I'm pretty sure, chomping at the bits. 167 00:08:56,120 --> 00:08:58,400 Speaker 1: So sure seems to me like the system is in 168 00:08:58,400 --> 00:09:01,560 Speaker 1: fact rigged in favor of the capital owners and against 169 00:09:01,600 --> 00:09:04,599 Speaker 1: workers and labors. Not only that, it seems like corporations 170 00:09:04,640 --> 00:09:07,920 Speaker 1: as a whole have used inflationary conditions as an excuse 171 00:09:07,960 --> 00:09:12,280 Speaker 1: to raise prices in excess of inflation. According to data 172 00:09:12,320 --> 00:09:15,280 Speaker 1: from the Economic Policy Institute, between two thousand and seven 173 00:09:15,320 --> 00:09:19,320 Speaker 1: and twenty nineteen, corporate profits contributed to about thirteen percent 174 00:09:19,440 --> 00:09:22,960 Speaker 1: to prices. Since the second quarter of twenty twenty, they 175 00:09:23,000 --> 00:09:26,120 Speaker 1: have instead contributed to more than a third of price growth, 176 00:09:26,320 --> 00:09:29,120 Speaker 1: while labor costs have been cut in half, meaning a 177 00:09:29,160 --> 00:09:33,480 Speaker 1: direct one to one transfer of wealth from labors to shareholders. 178 00:09:33,760 --> 00:09:36,360 Speaker 1: So it's clear the richest and most powerful have benefited 179 00:09:36,520 --> 00:09:40,240 Speaker 1: immensely compared to regular Americans over the past couple of years. 180 00:09:40,520 --> 00:09:43,440 Speaker 1: The question is the fed in on it. 181 00:09:43,840 --> 00:09:45,720 Speaker 3: You know, people have a sense of fairness. We want 182 00:09:45,760 --> 00:09:47,520 Speaker 3: to think that there's a sense of fairness out there 183 00:09:47,559 --> 00:09:50,520 Speaker 3: and that the system is for all of its problems 184 00:09:50,520 --> 00:09:53,200 Speaker 3: at least everyone's got an equal chance at some level, 185 00:09:53,240 --> 00:09:56,880 Speaker 3: so that didn't happen. Now, I would say specifically on 186 00:09:57,080 --> 00:10:00,520 Speaker 3: Jerome Powell. You know, he's not an academic. We actually 187 00:10:00,559 --> 00:10:03,040 Speaker 3: had some worry when j Powell was nominated. Now, he 188 00:10:03,120 --> 00:10:05,520 Speaker 3: had extensive experience at the FED, So we knew that, 189 00:10:06,760 --> 00:10:08,120 Speaker 3: but we were a little worried, like this is the 190 00:10:08,160 --> 00:10:11,280 Speaker 3: first time we were having someone not from our world right. 191 00:10:11,840 --> 00:10:16,479 Speaker 3: But I would say the reputation, at least by his actions, 192 00:10:16,640 --> 00:10:21,600 Speaker 3: by his rhetoric, I don't see any evidence of the 193 00:10:21,640 --> 00:10:26,360 Speaker 3: FED doing favors for the capitalist class in terms of 194 00:10:26,400 --> 00:10:27,080 Speaker 3: setting rates. 195 00:10:27,200 --> 00:10:30,080 Speaker 1: Professor Clark says that a common misconception is that the 196 00:10:30,120 --> 00:10:33,120 Speaker 1: FED is just one central bank, but in actuality, the 197 00:10:33,120 --> 00:10:37,160 Speaker 1: FED comprises of twelve regional reserve banks spread across major 198 00:10:37,160 --> 00:10:40,920 Speaker 1: cities in the US, each serving its specific district. These 199 00:10:40,960 --> 00:10:45,079 Speaker 1: regional banks operate somewhat autonomously, reflecting the economic conditions and 200 00:10:45,120 --> 00:10:48,160 Speaker 1: priorities of their respective areas. Together with the Board of 201 00:10:48,200 --> 00:10:51,600 Speaker 1: Governors in Washington, d C. This structure ensures both centralized 202 00:10:51,640 --> 00:10:55,440 Speaker 1: coordination and regional representation, striving for a more holistic and 203 00:10:55,480 --> 00:10:58,160 Speaker 1: responsive approach to the nation's monetary policy. 204 00:10:58,440 --> 00:11:00,960 Speaker 3: I don't think monetary policies a tool that the billionaires 205 00:11:00,960 --> 00:11:03,400 Speaker 3: have enriched themselves, don't. I don't think that that's it. 206 00:11:03,559 --> 00:11:07,480 Speaker 3: I don't think there are macroeconomic powers that be. 207 00:11:07,840 --> 00:11:11,760 Speaker 1: So if there is no conspiracy, what is actually going on? 208 00:11:11,920 --> 00:11:14,480 Speaker 1: Why does it feel like the decision to raise. Maybe 209 00:11:14,559 --> 00:11:18,040 Speaker 1: sometimes lower interest rates are not made for the collective good, 210 00:11:18,520 --> 00:11:20,640 Speaker 1: but for a select few. 211 00:11:20,880 --> 00:11:25,240 Speaker 3: Who benefits from low rates, who benefits from high rates. Honestly, 212 00:11:25,440 --> 00:11:27,240 Speaker 3: this is this is not I don't think this is 213 00:11:27,400 --> 00:11:30,560 Speaker 3: very settled the income distribution question. To pick on Robert 214 00:11:30,600 --> 00:11:33,720 Speaker 3: Reik a little bit. When rates were low, he would say, oh, 215 00:11:33,840 --> 00:11:35,160 Speaker 3: we need to raise them because. 216 00:11:34,920 --> 00:11:35,760 Speaker 9: It benefitting rich. 217 00:11:35,920 --> 00:11:38,280 Speaker 3: And then when the FED was raising rates, Robert Reich 218 00:11:38,320 --> 00:11:40,120 Speaker 3: went out and said, ah, they keep raising rates. 219 00:11:40,120 --> 00:11:41,880 Speaker 9: It's harming the working class, you know. 220 00:11:41,920 --> 00:11:45,199 Speaker 3: So he just he kind of he had a consistent, 221 00:11:46,320 --> 00:11:49,320 Speaker 3: a consistent person he was caring about, but he kept 222 00:11:49,320 --> 00:11:51,400 Speaker 3: telling the FED to do the opposite depending on the 223 00:11:51,400 --> 00:11:52,120 Speaker 3: current situation. 224 00:11:52,320 --> 00:11:52,520 Speaker 6: Wow. 225 00:11:52,600 --> 00:11:55,199 Speaker 1: And this is the revealing point in that the underlying 226 00:11:55,240 --> 00:11:59,880 Speaker 1: motivations of institutions like the FED almost doesn't even matter. 227 00:12:00,120 --> 00:12:04,359 Speaker 1: The truth or falsity of a conspiracy becomes somewhat irrelevant 228 00:12:04,600 --> 00:12:08,320 Speaker 1: when the reality is that the outcomes are always bifurcated 229 00:12:08,679 --> 00:12:11,800 Speaker 1: regardless of which monetary policy is being pursued. The result 230 00:12:11,920 --> 00:12:14,760 Speaker 1: is that more and more Americans are living paycheck to paycheck, 231 00:12:15,120 --> 00:12:17,959 Speaker 1: wages are stagnant, credit card debt is at an all 232 00:12:18,000 --> 00:12:20,959 Speaker 1: time high Buying a house is out of reach for most, 233 00:12:21,200 --> 00:12:25,000 Speaker 1: and renting is increasingly becoming more unaffordable. While at the 234 00:12:25,000 --> 00:12:28,920 Speaker 1: same time, these capital owners, with their vast resources and influence, 235 00:12:29,360 --> 00:12:32,600 Speaker 1: always managed to exploit and benefit from the current system. 236 00:12:33,080 --> 00:12:34,840 Speaker 1: So how do we put an end to this. 237 00:12:35,080 --> 00:12:36,000 Speaker 9: That's the role of Congress. 238 00:12:36,040 --> 00:12:38,679 Speaker 3: This is Congress's job. I mean, politically, we can look 239 00:12:38,720 --> 00:12:43,560 Speaker 3: back to the progressive era with Teddy Roosevelt and that 240 00:12:43,720 --> 00:12:49,600 Speaker 3: whole movement to reign and monopoly power to increase the 241 00:12:49,640 --> 00:12:52,040 Speaker 3: safety standards for food. I mean, the FDA was created 242 00:12:52,120 --> 00:12:55,640 Speaker 3: during that time. That's the kind of political project you 243 00:12:55,679 --> 00:12:58,800 Speaker 3: have to have to fight inequality. Something from the Progressive era, 244 00:13:00,640 --> 00:13:01,960 Speaker 3: an FDR new deal kind. 245 00:13:01,880 --> 00:13:03,960 Speaker 9: Of the thing. And the power that does that is 246 00:13:04,040 --> 00:13:05,360 Speaker 9: Congress is going to do that. 247 00:13:05,360 --> 00:13:06,840 Speaker 3: That's the institution that has to do it. 248 00:13:06,960 --> 00:13:10,240 Speaker 1: That's right. In the landscape of American politics, few decisions 249 00:13:10,280 --> 00:13:13,400 Speaker 1: have reshaped the power dynamics as drastically as the Supreme 250 00:13:13,440 --> 00:13:16,600 Speaker 1: Court's twenty ten ruling on Citizens United versus the FEC. 251 00:13:17,320 --> 00:13:21,679 Speaker 1: This ruling opened the floodgates for unlimited corporate spending in politics, 252 00:13:21,800 --> 00:13:26,120 Speaker 1: enabling billionaires and large corporations to exert unparalleled influence over 253 00:13:26,160 --> 00:13:29,440 Speaker 1: our democratic processes by allowing so called super packs to 254 00:13:29,520 --> 00:13:32,880 Speaker 1: raise and spend unlimited amounts of money. The voice of 255 00:13:32,960 --> 00:13:36,040 Speaker 1: the average American is increasingly drowned out by a cacophony 256 00:13:36,080 --> 00:13:39,600 Speaker 1: of corporate interests and the interests of the ultra wealthy. 257 00:13:39,880 --> 00:13:43,560 Speaker 1: At this juncture, we absolutely need congressional legislation or a 258 00:13:43,640 --> 00:13:47,520 Speaker 1: constitutional amendment to end such corrosive practices. But if you 259 00:13:47,520 --> 00:13:49,760 Speaker 1: pay close attention in the run up to twenty twenty four, 260 00:13:50,120 --> 00:13:54,040 Speaker 1: you'll hear almost zero mention of this topic in mainstream media, 261 00:13:54,080 --> 00:13:57,560 Speaker 1: and that is by design. Billionaires and big businesses are 262 00:13:57,600 --> 00:14:00,680 Speaker 1: among the top contributors to political campaigns and often do 263 00:14:00,840 --> 00:14:04,679 Speaker 1: dictate the public conscience, influencing not just consumer choice but 264 00:14:04,800 --> 00:14:08,120 Speaker 1: also public opinion. So in the end, even if the 265 00:14:08,160 --> 00:14:12,640 Speaker 1: conspiracy is wrong and the FED isn't intentionally shaping monetary 266 00:14:12,640 --> 00:14:15,720 Speaker 1: policy to benefit the wealthy, the real danger, in my opinion, 267 00:14:15,800 --> 00:14:20,040 Speaker 1: to America isn't the conspiracy theories themselves. It's the growing 268 00:14:20,080 --> 00:14:23,920 Speaker 1: perception that our institutions are biased towards the richest and 269 00:14:24,000 --> 00:14:28,120 Speaker 1: most powerful. And how much longer these institutions can endure 270 00:14:28,520 --> 00:14:33,120 Speaker 1: under such skepticism before they inevitably collapse inward. That has 271 00:14:33,160 --> 00:14:35,360 Speaker 1: offered me this time. What are your thoughts about the 272 00:14:35,400 --> 00:14:39,800 Speaker 1: FED inflation interest rates? Sound off in the common section below. 273 00:14:39,840 --> 00:14:42,480 Speaker 1: If you enjoy these beyond the headline segments, I would 274 00:14:42,560 --> 00:14:44,680 Speaker 1: encourage you to check out and subscribe to my YouTube 275 00:14:44,720 --> 00:14:46,720 Speaker 1: channel fifty one to forty nine with James Lee. The 276 00:14:46,760 --> 00:14:50,160 Speaker 1: link will be in the description below. I'd really appreciate that, 277 00:14:50,400 --> 00:14:53,080 Speaker 1: and as always, keep on tuning into Breaking Points and 278 00:14:53,120 --> 00:14:55,600 Speaker 1: thank you for your time today. 279 00:14:57,160 --> 00:15:00,200 Speaker 10: All right, I'm Maximilian Alvarez. I'm the editor, you're in 280 00:15:00,280 --> 00:15:02,800 Speaker 10: chief of the Real News Network and host of the 281 00:15:02,880 --> 00:15:06,840 Speaker 10: podcast Working People, and this is the Art of Class 282 00:15:06,880 --> 00:15:10,760 Speaker 10: War on Breaking Points. In our last Art of Class 283 00:15:10,800 --> 00:15:13,880 Speaker 10: War segment, which we published at the end of August, 284 00:15:14,440 --> 00:15:18,400 Speaker 10: I spoke with Nick Leivick, a General Motors autoworker and 285 00:15:18,440 --> 00:15:21,680 Speaker 10: a rank and file member of UAW Local thirty one 286 00:15:21,880 --> 00:15:26,640 Speaker 10: in Kansas City about the high stakes, intensifying contract fight 287 00:15:26,760 --> 00:15:30,480 Speaker 10: between the United Auto Workers Union and the Big Three 288 00:15:30,560 --> 00:15:37,960 Speaker 10: automakers Ford, General Motors and Stilantis formerly Chrysler. The uaw's 289 00:15:38,080 --> 00:15:41,280 Speaker 10: current contracts with the Big Three covers around one hundred 290 00:15:41,320 --> 00:15:45,560 Speaker 10: and fifty thousand auto workers and those contracts are set 291 00:15:45,600 --> 00:15:51,480 Speaker 10: to expire just before midnight on Thursday, September fourteenth. Now 292 00:15:51,600 --> 00:15:54,640 Speaker 10: we are recording this interview from the Real News Network 293 00:15:54,720 --> 00:15:59,080 Speaker 10: studio here in Baltimore on Tuesday, September twelfth. As you 294 00:15:59,080 --> 00:16:03,720 Speaker 10: guys know, Breaking Points' partner segments publish on the weekends, 295 00:16:04,160 --> 00:16:06,720 Speaker 10: so by the time you are watching this, it is 296 00:16:06,920 --> 00:16:09,760 Speaker 10: very likely that workers at one or more of the 297 00:16:09,800 --> 00:16:14,720 Speaker 10: Big Three will be on strike. As Jeff Shirky reports 298 00:16:14,760 --> 00:16:18,280 Speaker 10: at in These Times magazine. Quote, the Big Three have 299 00:16:18,440 --> 00:16:22,320 Speaker 10: made a combined nearly quarter trillion dollars in profits in 300 00:16:22,400 --> 00:16:27,000 Speaker 10: North America over the past decade, including twenty one billion 301 00:16:27,040 --> 00:16:30,120 Speaker 10: dollars in the first six months of twenty twenty three alone. 302 00:16:30,840 --> 00:16:34,920 Speaker 10: The company's shareholders and executives have been richly rewarded through 303 00:16:34,960 --> 00:16:41,040 Speaker 10: stock buybacks and exorbitant salaries. Meanwhile, the workers who actually 304 00:16:41,120 --> 00:16:44,240 Speaker 10: make the cars have seen their real wages plummet by 305 00:16:44,320 --> 00:16:48,280 Speaker 10: thirty percent over the past twenty years. In what was 306 00:16:48,400 --> 00:16:52,760 Speaker 10: once a middle class career, Some auto workers now make 307 00:16:52,840 --> 00:16:56,400 Speaker 10: as little as fifteen dollars and seventy eight cents per hour, 308 00:16:57,080 --> 00:17:01,200 Speaker 10: often working overtime to earn enough to support their families. 309 00:17:01,520 --> 00:17:02,840 Speaker 9: End quote. Now. 310 00:17:03,080 --> 00:17:05,280 Speaker 10: As we have covered here on Breaking Points and at 311 00:17:05,320 --> 00:17:09,200 Speaker 10: the Real News Network, the UAW is not messing around 312 00:17:09,320 --> 00:17:13,159 Speaker 10: at the bargaining table right now. Among other things, the 313 00:17:13,280 --> 00:17:16,840 Speaker 10: union is demanding forty six percent raises in general pay 314 00:17:16,920 --> 00:17:20,320 Speaker 10: over the next four years, a shorter work week without 315 00:17:20,400 --> 00:17:25,040 Speaker 10: reduction in pay, ending the tiered wage system for factory 316 00:17:25,119 --> 00:17:29,159 Speaker 10: jobs that allows the company to pay workers radically different 317 00:17:29,160 --> 00:17:32,840 Speaker 10: amounts for doing the same jobs. The union is also 318 00:17:32,960 --> 00:17:36,200 Speaker 10: fighting for the restoration of cost of living pay raises 319 00:17:36,520 --> 00:17:40,560 Speaker 10: and define benefit pensions for new hires, things that the 320 00:17:40,680 --> 00:17:44,199 Speaker 10: UAW and its members gave up to help save the 321 00:17:44,200 --> 00:17:49,040 Speaker 10: auto industry from collapsing fifteen years ago during the Great Recession. 322 00:17:49,359 --> 00:17:52,520 Speaker 10: If auto workers walk off the job later this week, 323 00:17:52,920 --> 00:17:55,679 Speaker 10: what will that look like, What will it take for 324 00:17:55,800 --> 00:17:59,199 Speaker 10: workers to win this fight and secure the contract that 325 00:17:59,240 --> 00:18:02,760 Speaker 10: they deserve, and what role do we all have to 326 00:18:02,880 --> 00:18:05,960 Speaker 10: play in that fight. To talk about all of this 327 00:18:06,119 --> 00:18:09,320 Speaker 10: and more, I'm honored to be joined today by Chris Falzoni, 328 00:18:09,760 --> 00:18:12,600 Speaker 10: a rank and file UAW member who works at the 329 00:18:12,640 --> 00:18:18,360 Speaker 10: Stalantis Assembly complex in Toledo, Ohio, after recently transferring from 330 00:18:18,400 --> 00:18:22,879 Speaker 10: the shuttered Belvedere plant in Illinois. Chris, thank you so 331 00:18:23,000 --> 00:18:25,639 Speaker 10: much for joining me today on breaking points. Man, I 332 00:18:25,720 --> 00:18:26,800 Speaker 10: really appreciate it. 333 00:18:28,119 --> 00:18:29,000 Speaker 9: Thank you for having me. 334 00:18:30,320 --> 00:18:33,880 Speaker 10: Now, we are going to be releasing this over the weekend. 335 00:18:34,000 --> 00:18:38,080 Speaker 10: As I said, you know, it's very possible that you 336 00:18:38,119 --> 00:18:40,480 Speaker 10: and your coworkers will be on the picket line by 337 00:18:40,480 --> 00:18:42,919 Speaker 10: that point. So I want to just really hit the 338 00:18:42,920 --> 00:18:46,640 Speaker 10: ground running here and ask, as we are approaching this 339 00:18:46,720 --> 00:18:50,919 Speaker 10: contract deadline just before midnight on Thursday, how are you 340 00:18:50,960 --> 00:18:54,280 Speaker 10: and your coworkers feeling right now about a potential strike? 341 00:18:54,800 --> 00:18:58,320 Speaker 10: Like what's the vibe in your local and across the union? 342 00:18:58,359 --> 00:19:00,200 Speaker 10: What are you hearing from folks? 343 00:19:00,720 --> 00:19:02,800 Speaker 9: So the vibe is very positive. 344 00:19:03,840 --> 00:19:07,840 Speaker 4: We've been seeing a sea of red shirts every day 345 00:19:07,880 --> 00:19:08,919 Speaker 4: we go into work. 346 00:19:09,680 --> 00:19:13,840 Speaker 9: People are just excited. So we used to get offered over. 347 00:19:13,760 --> 00:19:17,240 Speaker 4: Time to work through our lunches and breaks, and people 348 00:19:17,280 --> 00:19:21,120 Speaker 4: aren't taking it anymore. We're not working through lunches and breaks, 349 00:19:21,200 --> 00:19:24,840 Speaker 4: we're not going above and beyond for the company since 350 00:19:24,880 --> 00:19:27,480 Speaker 4: they won't go above and beyond for us, They won't 351 00:19:27,480 --> 00:19:29,719 Speaker 4: even do the bare minimum for our attempts who are 352 00:19:29,720 --> 00:19:32,760 Speaker 4: only making fifteen bucks an hour, and they're being forced 353 00:19:32,760 --> 00:19:35,959 Speaker 4: to work seven days a week on call, which is 354 00:19:36,000 --> 00:19:37,080 Speaker 4: completely unfair. 355 00:19:37,600 --> 00:19:41,879 Speaker 9: The people on the floor. We're ready, We're excited. 356 00:19:41,359 --> 00:19:44,840 Speaker 10: For this, And I mean you talk about going above 357 00:19:44,880 --> 00:19:48,159 Speaker 10: and beyond. I've been interviewing more of your union siblings 358 00:19:48,240 --> 00:19:52,800 Speaker 10: for my podcast, Working People, and what I've been hearing 359 00:19:52,840 --> 00:19:57,600 Speaker 10: from folks is just like the incredible amount of work 360 00:19:57,640 --> 00:20:00,479 Speaker 10: that y'all have been doing even through the pandemic, Like 361 00:20:00,520 --> 00:20:05,360 Speaker 10: the speed ups, the reduction in allotted time to complete 362 00:20:05,400 --> 00:20:08,280 Speaker 10: your tasks, Like it just feels like y'all are just 363 00:20:08,600 --> 00:20:12,960 Speaker 10: constantly going, you know, one hundred percent or one hundred 364 00:20:13,000 --> 00:20:15,399 Speaker 10: and ten percent with forced overtime. I mean, I've been 365 00:20:15,400 --> 00:20:18,919 Speaker 10: hearing about folks working like seven days a week, twelve 366 00:20:18,920 --> 00:20:21,720 Speaker 10: hours a day for like three months without a break. 367 00:20:24,000 --> 00:20:27,240 Speaker 4: Yeah, we have sees right now that are some of 368 00:20:27,280 --> 00:20:30,920 Speaker 4: them are forced to work up to almost a month straight. 369 00:20:31,359 --> 00:20:35,119 Speaker 4: If they're a low s se they'll have to they'll 370 00:20:35,119 --> 00:20:38,320 Speaker 4: have to just go and work, and they have no 371 00:20:38,440 --> 00:20:41,600 Speaker 4: ability to call off. They can't say, hey, I want 372 00:20:41,600 --> 00:20:45,040 Speaker 4: to spend Tuesday with my family. No, there's no way 373 00:20:45,080 --> 00:20:48,360 Speaker 4: for them to get any time off of work. And 374 00:20:48,600 --> 00:20:51,760 Speaker 4: when you're talking about the speed ups right now, Chrysler 375 00:20:51,920 --> 00:20:55,520 Speaker 4: has been cutting jobs just viciously. 376 00:20:55,960 --> 00:20:57,480 Speaker 9: They've cut about. 377 00:20:57,160 --> 00:20:59,800 Speaker 4: Half of our quality jobs, and then they want to 378 00:20:59,840 --> 00:21:02,000 Speaker 4: come to us and be like, why is quality worse? 379 00:21:02,800 --> 00:21:03,320 Speaker 9: We can't. 380 00:21:03,800 --> 00:21:07,320 Speaker 4: We can't control quality when you cut our jobs and 381 00:21:07,359 --> 00:21:10,200 Speaker 4: then you push out bad product, and then you spin 382 00:21:10,280 --> 00:21:13,159 Speaker 4: it in the media narrative these people are overpaid. No, 383 00:21:13,280 --> 00:21:16,679 Speaker 4: when you're doubling jobs up and people are struggling, they 384 00:21:16,680 --> 00:21:18,560 Speaker 4: can't get a sip of water when it's hot out, 385 00:21:19,119 --> 00:21:19,880 Speaker 4: that's not fair. 386 00:21:20,359 --> 00:21:21,480 Speaker 9: Well, let's talk about that. 387 00:21:21,800 --> 00:21:25,720 Speaker 10: You know, because of course, like they did ahead of 388 00:21:25,720 --> 00:21:29,720 Speaker 10: a potential railroad strike last year, and like they did 389 00:21:29,760 --> 00:21:33,720 Speaker 10: ahead of a potential ups strike this summer, the corporate 390 00:21:33,800 --> 00:21:37,720 Speaker 10: media is crapping its collective pants right now over the 391 00:21:38,240 --> 00:21:42,320 Speaker 10: quote unquote economic impact that an auto strike would cause. 392 00:21:43,040 --> 00:21:46,480 Speaker 10: And you know, folks like Jim Kramer are out here 393 00:21:46,480 --> 00:21:49,640 Speaker 10: trying to paint the UAW President Sean Fain like he's 394 00:21:49,720 --> 00:21:52,960 Speaker 10: che Gwavar or something. So I want to focus on 395 00:21:53,000 --> 00:21:55,320 Speaker 10: that for a second. And I want to ask, if 396 00:21:55,320 --> 00:21:58,480 Speaker 10: you could talk directly to folks out there who are 397 00:21:58,520 --> 00:22:04,000 Speaker 10: being bombarded every by all of this corporate serving propaganda, 398 00:22:04,600 --> 00:22:07,600 Speaker 10: what would you want them to know about this struggle 399 00:22:08,080 --> 00:22:11,160 Speaker 10: and what this strike is really about. 400 00:22:12,440 --> 00:22:16,040 Speaker 4: So I want people to Think about being on an 401 00:22:16,040 --> 00:22:20,240 Speaker 4: assembly line for twelve hours. You're breaking your back, You're 402 00:22:20,280 --> 00:22:23,639 Speaker 4: moving heavy hoists, picking up heavy parts, bending into the 403 00:22:23,680 --> 00:22:27,240 Speaker 4: engine compartment. Think about doing that work for twelve hours 404 00:22:27,480 --> 00:22:31,439 Speaker 4: for fifteen dollars an hour. Try to think about what 405 00:22:31,480 --> 00:22:33,840 Speaker 4: it would be like when you're not getting to spend 406 00:22:33,840 --> 00:22:37,000 Speaker 4: time with your family. You're being forced to be in 407 00:22:37,040 --> 00:22:42,040 Speaker 4: there five six, seven days a week for fifteen dollars 408 00:22:42,040 --> 00:22:42,400 Speaker 4: an hour. 409 00:22:42,920 --> 00:22:44,440 Speaker 9: That's poverty wages. 410 00:22:44,920 --> 00:22:47,679 Speaker 4: I make thirty one seventy seven, which sounds like an 411 00:22:47,720 --> 00:22:51,040 Speaker 4: amazing wage, but when I started, the top out pay 412 00:22:51,200 --> 00:22:54,080 Speaker 4: was twenty eight dollars an hour. We've only gotten three 413 00:22:54,160 --> 00:22:57,199 Speaker 4: and a half dollars in fifteen years. 414 00:22:57,359 --> 00:22:59,040 Speaker 9: And that's not fair to us either. 415 00:22:59,560 --> 00:23:03,200 Speaker 4: When I started, a car cost about twenty five thousand dollars. 416 00:23:03,680 --> 00:23:07,840 Speaker 4: Now it costs fifty thousand. But my wages haven't doubled. 417 00:23:08,000 --> 00:23:10,959 Speaker 4: We've only gotten three dollars an hour. We're not greedy 418 00:23:10,960 --> 00:23:15,000 Speaker 4: auto workers. We just want our fair share of the profits. 419 00:23:15,040 --> 00:23:17,960 Speaker 10: Hell yeah, and you know, let's let's not forget as 420 00:23:18,000 --> 00:23:20,560 Speaker 10: as we discussed in the last Art of Class War 421 00:23:21,000 --> 00:23:24,600 Speaker 10: segment with Nick Leivick, you know we're talking about an 422 00:23:24,640 --> 00:23:29,000 Speaker 10: auto industry that looks very different from what we saw 423 00:23:29,160 --> 00:23:31,680 Speaker 10: in two thousand and eight, two thousand and nine. Right, 424 00:23:31,800 --> 00:23:34,400 Speaker 10: we all know, we were all there in the Great Recession. 425 00:23:34,480 --> 00:23:37,760 Speaker 10: It sucked, right, I mean, my family lost everything, like 426 00:23:37,840 --> 00:23:41,160 Speaker 10: so many millions of other families. I know that your 427 00:23:41,280 --> 00:23:45,400 Speaker 10: union siblings, you know, gave up a lot of concessions 428 00:23:45,840 --> 00:23:51,480 Speaker 10: to help keep this industry afloat and the taxpayers, fellow 429 00:23:51,480 --> 00:23:54,320 Speaker 10: working people, we bailed out, you know, two of the 430 00:23:54,320 --> 00:23:57,680 Speaker 10: big three automakers to the tune of eighty billion dollars, 431 00:23:57,840 --> 00:24:02,080 Speaker 10: and y'all were promised at that time that the concessions 432 00:24:02,080 --> 00:24:06,639 Speaker 10: you were giving up would be given back when you know, 433 00:24:06,720 --> 00:24:09,680 Speaker 10: the auto industry turned things around when these companies were 434 00:24:09,720 --> 00:24:11,960 Speaker 10: back in the black, and over the course of the 435 00:24:12,000 --> 00:24:15,880 Speaker 10: past decade, what we have seen instead of that is 436 00:24:16,000 --> 00:24:21,360 Speaker 10: the same companies not only turn massive record profits, which 437 00:24:21,440 --> 00:24:24,640 Speaker 10: y'all are making for them, to the tune of billions 438 00:24:24,640 --> 00:24:28,840 Speaker 10: and billions of dollars. They got massive windfall profits from 439 00:24:28,920 --> 00:24:32,159 Speaker 10: giant tax cuts a couple years ago, and they have 440 00:24:32,320 --> 00:24:37,800 Speaker 10: responded with more layoffs, more plant closures, which you yourself 441 00:24:37,840 --> 00:24:41,639 Speaker 10: have experienced, and they've been jacking up their own executive 442 00:24:41,680 --> 00:24:45,919 Speaker 10: pay and shareholder dividends. Like, am I wrong? Am I 443 00:24:45,960 --> 00:24:48,920 Speaker 10: going crazy here? Because it feels like like if they 444 00:24:49,000 --> 00:24:51,240 Speaker 10: wanted to get the public on their side, maybe stop 445 00:24:51,280 --> 00:24:56,080 Speaker 10: being so openly greedy and screwing over your workers. 446 00:24:57,520 --> 00:25:02,879 Speaker 9: Yeah, we are bearing the brunt of their greed. The 447 00:25:03,119 --> 00:25:04,520 Speaker 9: jobs have been doubled up. 448 00:25:04,680 --> 00:25:04,840 Speaker 6: The the. 449 00:25:06,720 --> 00:25:09,639 Speaker 4: Thing is when they when they'll talk about our profit sharing, 450 00:25:09,760 --> 00:25:13,120 Speaker 4: they'll say things like, we spent six hundred million dollars 451 00:25:13,280 --> 00:25:16,439 Speaker 4: on profit sharing, that's how much my company spent. But 452 00:25:16,640 --> 00:25:20,680 Speaker 4: they gave six billion dollars in stock buybacks. 453 00:25:21,000 --> 00:25:26,400 Speaker 10: Well, and let let's talk about where we're headed, right, because, 454 00:25:26,480 --> 00:25:29,160 Speaker 10: like I said, as we speak right now on Tuesday, 455 00:25:29,240 --> 00:25:33,240 Speaker 10: we are at the precipice of a potential strike. And 456 00:25:33,440 --> 00:25:36,120 Speaker 10: as we know, this is not you know, your daddy's 457 00:25:36,200 --> 00:25:39,320 Speaker 10: uaw right, this is a new day for the union 458 00:25:40,119 --> 00:25:43,480 Speaker 10: that you know, the leadership was was voted in after 459 00:25:43,760 --> 00:25:48,720 Speaker 10: you and your fellow union members fought for a one member, 460 00:25:48,800 --> 00:25:52,800 Speaker 10: one vote system that allowed you to more democratically and 461 00:25:52,840 --> 00:25:57,639 Speaker 10: more directly elect your union leadership, which y'all did, electing 462 00:25:57,720 --> 00:26:02,040 Speaker 10: Sean Fame, backed by the Reform Caucus Unite All Workers 463 00:26:02,160 --> 00:26:05,600 Speaker 10: for Democracy, And now we've got you know, like a 464 00:26:05,680 --> 00:26:10,280 Speaker 10: much different tone at the bargaining table, uh and amongst 465 00:26:10,280 --> 00:26:13,720 Speaker 10: the membership. I think so I wanted to ask, like, 466 00:26:13,880 --> 00:26:17,000 Speaker 10: with all of this going on, what would a strike 467 00:26:17,359 --> 00:26:21,160 Speaker 10: look like if it if indeed one happens at one 468 00:26:21,280 --> 00:26:23,440 Speaker 10: or more of the big three auto makers this week? 469 00:26:24,119 --> 00:26:28,000 Speaker 10: What can folks out there do if there is a 470 00:26:28,040 --> 00:26:31,439 Speaker 10: strike to stand in solidarity with y'all? And when it 471 00:26:31,480 --> 00:26:36,000 Speaker 10: comes to approving a final contract, what will a victory 472 00:26:36,040 --> 00:26:37,600 Speaker 10: for workers look like? 473 00:26:37,720 --> 00:26:37,960 Speaker 9: Here? 474 00:26:38,960 --> 00:26:42,560 Speaker 4: What people can do to help us is when we're 475 00:26:42,560 --> 00:26:46,679 Speaker 4: out there picketing, if you drive by us, if you wave, 476 00:26:47,080 --> 00:26:52,000 Speaker 4: if you honk, that's amazing. Just show your support. If 477 00:26:52,000 --> 00:26:54,639 Speaker 4: you want to come to the picket line. Anyone who's 478 00:26:54,640 --> 00:26:56,679 Speaker 4: an adult can be on the picket line. If you 479 00:26:56,680 --> 00:27:01,080 Speaker 4: want to show our show your solidarity by coming and standing. 480 00:27:00,720 --> 00:27:02,359 Speaker 9: With us, we would appreciate it. 481 00:27:02,880 --> 00:27:06,160 Speaker 4: We understand that the public's on our side and that 482 00:27:06,440 --> 00:27:10,840 Speaker 4: we're going to win this fight. We have the moral 483 00:27:11,600 --> 00:27:16,040 Speaker 4: backing of the American people. Eighty percent of people back us, 484 00:27:16,560 --> 00:27:20,160 Speaker 4: and it's because people are tired of being beaten down 485 00:27:20,240 --> 00:27:24,800 Speaker 4: by our bosses, by them making record profits but not 486 00:27:24,880 --> 00:27:28,480 Speaker 4: giving us any wage. Increases a victory for us in 487 00:27:28,520 --> 00:27:32,359 Speaker 4: the UAW means that we don't have tears anymore. We 488 00:27:32,400 --> 00:27:35,600 Speaker 4: don't have second class citizens working right next to us 489 00:27:36,000 --> 00:27:39,800 Speaker 4: making half our wage, second class citizens who don't have 490 00:27:39,840 --> 00:27:43,600 Speaker 4: the same healthcare as us, and I technically am a 491 00:27:43,640 --> 00:27:47,240 Speaker 4: second class citizen compared to the other workers. I don't 492 00:27:47,240 --> 00:27:50,760 Speaker 4: have a pension, I don't have medical benefits for what 493 00:27:50,920 --> 00:27:55,360 Speaker 4: I retire. If I do thirty years, when I retire, 494 00:27:55,520 --> 00:27:59,800 Speaker 4: I'm quitting. It's not that I'm leaving, you know, on 495 00:27:59,800 --> 00:28:02,840 Speaker 4: good terms with the company and retiring with a pension. 496 00:28:03,200 --> 00:28:05,040 Speaker 9: I'm quitting my company. 497 00:28:04,720 --> 00:28:08,600 Speaker 4: After thirty years of service, and that's not fair to us, 498 00:28:08,640 --> 00:28:13,240 Speaker 4: the workers. So we're trying to give ourselves justice, justice 499 00:28:13,240 --> 00:28:15,240 Speaker 4: for the hard work and the profits that. 500 00:28:15,200 --> 00:28:16,560 Speaker 9: We've made for these companies. 501 00:28:17,080 --> 00:28:21,000 Speaker 10: So that is Chris Falzoni, a rank and file UAW 502 00:28:21,280 --> 00:28:25,800 Speaker 10: member who works at the Stalantis Assembly Complex in Toledo, Ohio, 503 00:28:26,200 --> 00:28:31,520 Speaker 10: after recently transferring from the shuttered Belvedere plant in Illinois. Chris, 504 00:28:31,720 --> 00:28:35,280 Speaker 10: thank you so much for joining us today on breaking points, ma'am, 505 00:28:35,720 --> 00:28:39,560 Speaker 10: and solidarity to you and your union siblings. Whatever happens 506 00:28:39,600 --> 00:28:40,120 Speaker 10: this week. 507 00:28:41,360 --> 00:28:42,840 Speaker 9: Thank you. You have a good day now. 508 00:28:43,160 --> 00:28:46,200 Speaker 10: Thank you for watching this segment. With breaking points, and 509 00:28:46,280 --> 00:28:48,760 Speaker 10: be sure to subscribe to my news outlet, the Real 510 00:28:48,800 --> 00:28:51,880 Speaker 10: News Network, with links in the description to this video. 511 00:28:52,480 --> 00:28:54,880 Speaker 10: See you soon for the next edition of the Art 512 00:28:54,960 --> 00:28:58,600 Speaker 10: of Class War. Take care of yourselves, take care of 513 00:28:58,680 --> 00:29:15,040 Speaker 10: each other. Solidarity FOREVERM.