Is Jim Cramer still a POS? Yep!
After they hear this, I expect the big three to immediatly cease all manufacturing in Mexico and add a UAW seat on the Board of Directors. Cramer’s advice should never be ignored.
Why does Jim Kramer hate America?
Isn’t that the go-to threat from most companies nowadays? “If we don’t get our way, we’re MOVING TO MEXICO”
Not always Mexico, but yeah outside the US. Many of them have followed through with that. As capitalism pushes harder and harder for profits companies continue to look for ways to cut costs. Moving production to countries with cheaper labor and lax safety regulations is an easy way to do so.
NAFTA allows them to do it. So yes, it allows a company to avoid the unions by moving to Mexico or Canada.
Canada has unions
Yes and they make fraction of what American workers do. They make more then Mexico which is why most the jobs are going to Mexico.
And in response to that we should [REDACTED] him.
This is the problem with nafta. NAFTA created an environment that is hard for unions to operate in. The big 3 can send it all to Mexico and just ship the final product back.
Or Canada. Either is cheaper labor wise.
It’s why nafta needs to be renegotiated.
Canada really isn’t that much cheaper than the US to manufacture and they are also unionized. You just get the currency advantage (1USD = ~$0.72 CAD). Stellantis already moved Ram production to Mexico. The bigger issue is relative competition with Asian imports and Tesla who have no union factories because they produce mostly in the south.
Either way, it would make little sense to move F150 and Silverado to Mexico. Hard to claim you drive American industry but produce in Mexico. I think the frustration is that multiple reasonable offers have been made and the UAW has yet to move from their original position. Which is ironic given they accused Stellantis and GM with bargaining in bad faith.
Current advantages but wages are typically lower. I know in my career field they’re about 40-50% lower. You also get the savings of not paying healthcare cost. (Most people don’t understand that employers are self insured. That means medical payments come out of expenses).
Tesla mostly produces in Nevada and California. Texas is starting to pick up but it isn’t as union as Nevada or California.
When my wife at the time bought her Nissan, it was more American built than any product in the same price range. It was non/-union labor but mainly built here.
Gm has moved a lot of production to Mexico. People forget all the supply chain which has moved as well. Ac Delco moved almost everything to Mexico.
I don’t know what is reasonable as I’m not an auto worker. I don’t buy most American car brands because they’re garbage. My two cars currently are an Audi and a Tesla. I know the Tesla was not union but Im not sure about the Audi.
It’s important to note that Mexico and Canada have unions.
Musk and his team has been very successful at surpressing unionization. They quickly gets rid of those that try.
The Japanese and Korean makers try to keep people placated so that they don’t think about unionization. Or in Hyundai’s case, using child labor and getting caught. In the South, some people are too ignorant to understand what the benefits of unions are which is one reason why it’s a popular destination for manufacturing jobs.
Volkswagen Auto Group has two separate unions, a minority UAW and a competing American Council of Employees specifically at the Chattanooga plant. The others are probably not unionized YET.
Unionization gets more popular as more conpanies try to extract more productivity without proper compensation.
Hard to claim you drive American industry but produce in Mexico.
Yeah Ford’s multi-million dollar “all in on America” football ad campaign will look pretty fucking ironic if they move all of their production elsewhere.
(Not that I believe it anyway)
Nafta has restrictions around worker pay. Overall though it might be bad for auto workers in the US but much more beneficial to the average American.
NAFTA is horrible for the average American. It destroys unions and wages. It allows a massive export of our jobs to other countries.
You have a cite around workers pay? That wasn’t in the original plan.
Eta: found an article from 2017
https://www.npr.org/2018/10/17/657806248/will-nafta-2-0-really-boost-mexican-wages
Is protectionism really the solution?
In this case, yes. NAFTA screws the average American and boosts the stock market which pur government is beholden to. The net effect around the globe is more exploitation for all.
Yeah, I’m already paying more for American made products, in search of better oversight and safety. If it offered workers better pay, that would be a huge win for “voting with my wallet”.
Yes. Everyone else does it. Otherwise union labor will not be as competitive in America.
I’d rather have some guardrails to keep the labor here.
Unionize Mexico
Jim Cramer is a piece of shit
nah he’s not a piece he’s the entire shit
Hey but at least he’s an idiot.
Mexicans should unionize.
Move the executive jobs to Mexico too
They’ll find out that they have to pay the Cartels a big tax.
I thought I remembered hearing something about an “inverse Cramer” ETF being created, which invest opposite to whatever he recommends.
Wait, don’t these assholes complain about Immigrants stealing jobs of Americans? Now, they want to send the jobs overseas?
No you see outsourcing jobs is good for conservatives because it prevents illegal immigration and increases profits for the shareholders.
Making living conditions in Mexico so good that they wouldn’t want to come north to our shithole country is the best way to fight illegal immigration and totally pwn the libs.
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Well, who’s going to move all the existing tooling to factory sites in Mexico then? Where are they even going to find good factory sites in Mexico with access to good transportation (ports and rails) and skilled labor force on such short notice?
Moving manufacturing is a major undertaking for any company, of course, I don’t expect someone like Jim Kramer to know that.
Of course Jim Kramer doesn’t know, he’s a doorknob humping shill. 😂
Pretty weird that I know more about this than Kramer.
Maybe I should do a show where I say dumb things and give bad stock advices. Seems pretty easy.
Not really shocking, I’m pretty sure the aforementioned doorknob, could give more insightful investment information than Kramer lol.
Unfortunate that neither of us has an in, to get his job.
Well, one of us did make a cameo on “The Big Short”, so…
You’re overqualified.
There’s already car manufacturing in Mexico, it’s not like it’s unprecedented. Obviously they can’t do it overnight, but it’s not unheard of.
Of course, but the thing is, it’s been decades since NAFTA, and all the good sites for manufacturing has all been taken by someone already. So, if they try to move now, not only will they have to build the factory, they’ll have to also build power stations/railways/port expansions, which could take multiple years.
That’s what they are doing already. And it makes a lot of sense. The cost of living in the US is too high.
No it isnt. The demands of the corporate fucks are too high, and their wages are too low. Club them like baby seals
Anybody that thought Cramer was for anything but infinite rise in profit no matter the cost hasn’t really been paying attention to his entire history of shilling for corporate interests.
