Thread regarding Wells Fargo & Co. layoffs

One for the Capitalists

Capitalism is all about competition.

Competing with your competitors for sales, for example.

That competition extends to workers. Us.

We either compete for jobs, or if there's a shortage of qualified workers, business competes for us.

Better wages or benefits, for example.

Because shareholders can sue a corporation for failing to do everything they can to keep costs low, and since payroll is usually the biggest cost for a business, WF and every other corporation in America is going to do whatever they can to shed payroll costs.

It's kind of the law of the land.

That may involve hiring offshore, or people who may not look like you want them to here.

So when the dog whistlers post about India and offshore and they're takin' 'r jabs, remember this:

That's just how capitalism works, and you shouldn't be mad at your competition, you should want to fix the system.

For the record, I'm a fan of well regulated capitalism, because unregulated capitalism will eat itself along with your job.

To wrap up, how about you stop the nonstop whining and complaining about people who don't look like you, and own it.

Hate the game, not the player.

PS - Seriously, stop whining.

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| 1758 views | | 22 replies (last July 13, 2021) | Reply
Post ID: @OP+1bM1aXlZ

22 replies (most recent on top)

@2kps+1bM1aXlZ, you mostly missed the point.

And FYI, since I left WF I started my third company, I love capitalism.

And I'm an old white guy.

You really, really missed the important parts, but it looked like you had fun.

@2nve+1bM1aXlZ is not the OP, and I'm not sure @2nve+1bM1aXlZ was agreeing with me or not.

Capitalism is taking your jobs, not brown people.

Be safe.

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Post ID: @2mpp+1bM1aXlZ

OP here, I really wish people understood the basics of capitalism.

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Post ID: @2nve+1bM1aXlZ

Not sure what the main point is so I'll reply to most of the meandering thoughts of the original post.

"Capitalism is all about competition."
No, capitalism is about eliminating competition. The trick is to make sure there's enough competition with capitalism but also enough reward.

"That competition extends to workers. Us."
I'm not a worker but I guess most posters here are. And they can certainly blame workers who work for peanuts and put up with abusive conditions and live in a country with little education, infrastructure and respect for women.

"We either compete for jobs, or if there's a shortage of qualified workers, business competes for us."
Workers provide a benefit to their employer and visa versa. Of course there should be a competitive market for this but there isn't.

"Because shareholders can sue a corporation for failing to do everything they can to keep costs low, and since payroll is usually the biggest cost for a business, WF and every other corporation in America is going to do whatever they can to shed payroll costs."
Shareholders can sure for anything but there is nothing that says a corporation has to do everything to cut costs. Especially when manpower is not fungible. Most corporations are short sighted when hiring cheaper people and many learned their lesson in the 90's.

"So when the dog whistlers post about India and offshore and they're takin' 'r jabs, remember this:
That's just how capitalism works, and you shouldn't be mad at your competition, you should want to fix the system."
That's not how capitalism works, that's how quasi capitalism works when government creates unlevel playing fields.

"For the record, I'm a fan of well regulated capitalism, because unregulated capitalism will eat itself along with your job."
Unregulated capitalism will end up with monopolies.

"To wrap up, how about you stop the nonstop whining and complaining about people who don't look like you, and own it."
That's quite a jump to assume they are complaining because their replacements don't look like them, racist.

PS - We get it, you hate capitalism and white people.

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Post ID: @2kps+1bM1aXlZ

@2hgz+1bM1aXlZ has time to reply and read the comments but not the OP.

Explains a lot.

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Post ID: @2uqe+1bM1aXlZ

@1tbt+1bM1aXlZ, I'm a self made millionaire so don't lecture me on rainy day funds.

And maybe if the initial post had 1 point instead of 13 paragraphs we'd know what the main point is.

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Post ID: @2hgz+1bM1aXlZ

@1kzd+1bM1aXlZ, I see 16 replies, including yours.

No one is addressing my main issue because there is no defense for the dog whistlers.

You're not very good at trolling, but I respect your right to try.

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Post ID: @2lwo+1bM1aXlZ

No one wants to address your topic, stop asking. If they wanted to, you’d see the replies.

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Post ID: @1kzd+1bM1aXlZ

OP here, does no one want to address my point...

THere are a lot of people posting America First dog whistle nonsense here, and the problem isn't with offshore folks or D&I.

It's the way America does capitalism.

Anyone?

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Post ID: @1rsc+1bM1aXlZ

@1hwa do you blame that same government for you not being smart enough to save up a rainy day fund?

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Post ID: @1tbt+1bM1aXlZ

Yes, that government. Sorry that someone prevented you from peddling li---r without a license, or from paying your employees below minimum wage, or from running a superspreader event so you could make a buck.

You're example #1 of why business can't be allowed to do whatever the he-l they want.

No wonder such a pillar of the community was drawn to Wells Fargo.

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Post ID: @1amm+1bM1aXlZ

@1dnm,
You mean the same government that forces me to pay unemployment insurance for 2 employees who refuse to come back?
Or the same government that charges me $2,200 every 2 years for a li---r license then forced me to close, cut my hours and limit my capacity with NO reimbursement?
Or the same government that thinks they have the moral authority to tell me how much of MY money I have to give to someone to work for me?
Or the same government that forced covid patients into nursing homes?
Yeah, I look to government for moral authority...

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Post ID: @1hwa+1bM1aXlZ

If there were fewer barriers to entry financial institutions would not magically become moral actors. Corporations in industries with lower barriers to entry still outsource, exploit, and corrupt everything around them in their sociopathic drive toward profit. It is not the big bad government forcing them to be less crooked that leads to monstrosities like WF

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Post ID: @1dnm+1bM1aXlZ

If it was capitalism, I could just start a bank and hire local people who speak English. But I can't because your "regulated" capitalism creates HUGE market entry barriers that ensure monopolies or oligopolies.

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Post ID: @1zpd+1bM1aXlZ

There seems to be quite a few people who post comments that really need to go back to school and learn about business and economics. Some of you truly show limited intelligence and maturity.

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Post ID: @1jjz+1bM1aXlZ

OP here, so far, no one has addressed my point.

It's not "other people" who are responsible for taking your jobs.

It's capitalism.

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Post ID: @1ebe+1bM1aXlZ

Unregulated capitalism is basically a license to steal.

Organized crime has moved to corporations and a lot of people like the OP is either too d-mb to realize it or is complicit. I am guessing the latter.

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Post ID: @1eof+1bM1aXlZ

This is NOT capitalism at all... it's CORPRATISM.... there's a difference.

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Post ID: @1elr+1bM1aXlZ

On average we work the first 5-6 months of the year just to pay taxes. That ain't capitalism.

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Post ID: @1kth+1bM1aXlZ

Capitalism is messed up in big banks. Period.

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Post ID: @1mbg+1bM1aXlZ

No, this is crony capitalism.

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Post ID: @rpt+1bM1aXlZ

Crickets…

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Post ID: @dcn+1bM1aXlZ

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