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Politician Against War

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National News
See other National News Articles

Title: Les Leopold: 135,900,000 Reasons Why the Working Class is so Angry
Source: [None]
URL Source: https://scheerpost.com/2024/10/07/l ... the-working-class-is-so-angry/
Published: Oct 10, 2024
Author: Horse
Post Date: 2024-10-10 09:42:33 by Horse
Keywords: None
Views: 99
Comments: 2

Since 1993, 60.2 million workers who had been on the job for at least three years have been laid off, according to the Bureau of Labor Statistics. Another 75.7 million with less than three years tenure have also been let go.

Working people understand that the periodic ups and downs of the economy can legitimately lead to job loss. But they also know that in many cases the reason they lost their job was not mismatches in supply and demand. Rather, their jobs were sacrificed to satisfy out and out corporate greed.

Private Equity and Greed

Workers know that when a private equity firm buys up the company at which they work, trouble lies ahead. Just ask the 33,000 workers at Toys R Us, who lost their jobs when that fabled company was driven into the ground by KKR, a huge private equity company. KKR bought the toy giant for $6 billion in 2005. Five billion dollars of the purchase price was financed with debt, which KKR put on the Toys R Us books.

Then the rape and pillage commenced, as Toys R Us slashed costs to service the debt, pay KKR hefty management fees, and quickly fall behind its competition, Walmart and Amazon. Aliya Sabharwal, writing in the LA Times last year, tells us:

“KKR and its partners sold off Toys ‘R’ Us real estate, pocketed the money and forced the retailer to lease back its buildings. Along the way, KKR and the other firms paid themselves $250 million in “management fees” and big bonuses to hand-picked executives — right before Toys ‘R’ Us entered bankruptcy.”


Poster Comment:

NAFTA closed 80,000 US manufacturing plants and sent them overseas. And these same liberals sent out for 90 million immigrants if you count their children.

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#1. To: Horse (#0)

From Wikipedia:

KKR was founded in 1976 by Jerome Kohlberg Jr., and cousins Henry Kravis and George R. Roberts, all of whom had previously worked together at Bear Stearns, where they completed some of the earliest leveraged buyout transactions. Since its founding, KKR has completed a number of transactions, including the 1989 leveraged buyout of RJR Nabisco, which was the largest buyout in history to that point, as well as the 2007 buyout of TXU, which is currently the largest buyout completed to date.

I clicked on Kolhberg, Kravis, and Roberts, all three Jewish.

“I am not one of those weak-spirited, sappy Americans who want to be liked by all the people around them. I don’t care if people hate my guts; I assume most of them do. The important question is whether they are in a position to do anything about it. My affections, being concentrated over a few people, are not spread all over Hell in a vile attempt to placate sulky, worthless shits.” - William S Burroughs

Dakmar  posted on  2024-10-10   9:52:29 ET  Reply   Trace   Private Reply  


#2. To: Dakmar (#1)

KKR and the Rothschilds run the Bilderberg Society.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2024-10-10   9:56:10 ET  Reply   Trace   Private Reply  


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