TRANSCRIPT: Bernie Sanders meets with News Editorial Board
. . . who doesn't even understand the issues he champions.
Here is an except of his interview with the Daily News, it is childish and embarrassing. But the rest of the transcript is even worse!
"Daily News: I understand that. I wanted to draw a distinction, though. Because in your speech you mention the financial industry and you focused on corporate America, the greed of Wall Street and corporate America. So I wanted to get a sense of corporate America, as the agent of American destruction.
Sanders: General Electric, good example. General Electric was created in this country by American workers and American consumers. What we have seen over the many years is shutting down of many major plants in this country. Sending jobs to low-wage countries. And General Electric, doing a very good job avoiding the taxes. In fact, in a given year, they pay nothing in taxes. That's greed.
That is greed and that’s selfishness. That is lack of respect for the people of this country.
Daily News: And so how does that destroy the fabric of America?
Sanders: I'll tell you how it does. If you are a corporation and the only damn thing you are concerned about is your profits. Let's just give an example of a corporation that's making money in America, today, but desiring to move to China or to Mexico to make even more money. That is destroying the moral fabric of this country. That is saying that I don't care that the workers, here have worked for decades. It doesn't matter to me. The only thing that matters is that I can make a little bit more money. That the dollar is all that is almighty. And I think that is the moral fabric.
To me, what moral is, I've got to be concerned about you. You've got to be concerned about my wife. That's moral to me. That's what I believe in. And if the only thing that matters to you is making an extra buck, you don't care about my family, I think that's immoral. And I think what corporate America has shown us in the last number of years, what Wall Street has shown us, the only thing that matters is their profits and their money. And the hell with the rest of the people of this country."
Sanders does not understand how companies are created, or why they are created. Bern, FYI, they are not created by workers, or customers.
Companies are created by individuals who exchange capital for stock shares in order to make or provide products or services to solve a problem or fulfill a perceived need of the broader public. The fact that the corporation is specifically created to solve a problem or fulfill a need is a significant moral benefit to society. They seek to create this product or service with the lowest possible cost, allowing a greater number of Americans/people to benefit from the product or service. This is also a positive moral benefit. Sanders does not understand this, but only sees that the corporation, and its shareholders demand, in exchange for these positive social benefits a few pennies profit per dollar of revenue.
Sanders is a greedy, venal, and petty man who has spent his live as a parasite, leaching off of the great tit of government, kvetching about businesses which provide great positive public benefits, while he does nothing of benefit (if you think otherwise, name that benefit), and instead takes from the wealth of the nation. Calling him a pathetic parasite is a slander on parasites everywhere.
"To me, what moral is, I've got to be concerned about you. You've got to be concerned about my wife. That's moral to me." Really Bernie, you fucking lowlife piece of shit? You steal the money from the mouths of poor children, not Apple, or GE, or Exxon, or any other company. Each of them makes a product or provides a service which solves a problem or need perceived by the people who CHOOSE to buy the product. These businesses sell in a market in which they have only the power to convince. They have no men with guns waiting to throw the consumer in prison because he chose not to buy.
You on the other hand, live only because of men with guns forcing others to pay to you money they earned, and which they would not otherwise voluntarily turn over to you. You are little more than a petite, petty Baron in a castle on the River America, extorting tariffs for your personal largesse from the unfortunate merchants of your Barony. Have you spent a minute thinking of the wife, or family of the persons you are extracting your filthy lucre? Please say yes and call bullshit on yourself!
You are an immoral prig, and a fool. You would not know moral if it bit you and took you to ground. Now go slip on a Che t-shirt, and prove you love mass murders as well, you vacuous shit.
As for profits, in business profits do matter. Just as products and services matter, just as customers matter, just as employees matter. This is because the business must maintain a balance between the needs of the customer, the demands and desires of the employee, and the requirements of the owners. A business cannot exist without all of these, and more. Without owners, there will be no capital. The profits are the recompense to the owners for the use of capital. Just as employees demand recompense for the "capital" they invest in the business, their labors, so the owners demand compensation for allowing the business to utilize their capital. Both have just and proper requirements for the uses of their "capital."
Only incompetent, ancient Marxist carbuncles like you do not understand this basic concept.
As for your whiney BS about offshoring, and free trade you are above all a racist, and a bigot. Your fear that the little brown man will take all your money is pathetic, and fails even the most rudimentary test of economic understanding.
More to the point, companies build, and assemble products in foreign countries not because they are greedy profit hogs. They realized something that your cancerous world view prevents you from understanding, that the choice is not between buying an iPhone made in America for $210 versus an iPhone assembled in China for $200, but the difference between an iPhone made in America for $600 versus an iPhone assembled in China for $200. The customer will not pay $600 for an iPhone. The competition will simply not allow that pricing. You would rather force Apple to discontinue the iPhone, and send men with guns to ensure that Apple makes the iPhone in America, all zero iPhones. Than change your warped, corroded worldview.
What makes this even more odd is your apparent lack of understanding of how products are made, and how we should, but generally do not attribute the values in international trade. Sanders wants to bring products like the iPhone back to the US, claiming they should be manufactured here, but actually meaning assembled here. Does he really think that bringing the iPhone back will somehow bring a huge cash infusion to the US? How much does he think it costs Apple to have China assemble the iPhone? The real cost is 1.8% of the total cost. See this study.
"It is a common misconception that China, where the iPad is assembled, receives a large share of money paid for electronics goods. That is not true of any name-brand products from U.S. firms that we’ve studied. The breakdown of value in these two iconic Apple products shows why. First, our assignment of profits (which exclude wages paid) to first-tier suppliers is based on the location of their corporate headquarters. There are no known Chinese suppliers to the iPhone 5 or iPad. The iPhone and iPad are assembled in mainland China factories owned by Foxconn, a Taiwan-based firm.
That means that the main financial benefit to China takes the form of wages paid for the assembly of the product or for manufacturing of some of the inputs. Many components, such as batteries and touchscreens, receive their final processing in China in factories owned by foreign firms. Although hard facts are scarce, we estimate that only $10 or less in direct labor wages that go into an iPhone or iPad is paid to China workers. So while each unit sold in the U.S. adds from $229 to $275 to the U.S.-China trade deficit (the estimated factory costs of an iPhone or iPad), the portion retained in China's economy is a tiny fraction of that amount."
If you need help understanding the paper or this quote, I am sure I can find a 10 year old to help you. Don't forget the prevailing wage is $15 per hour, plus payroll taxes, and other benefits. Some of us have standards.
I would go on but this would turn into a book, and leave poor Bernie even more bloodied.
Read the interview to have your eyes opened. He does not understand business at all, nor does he understand his foundational issues which are banking, and finance. Other issues leave him little more than a dull stuttering naif. This is an appalling display of ignorance, bluster, and buffoonery.
While I love that he continues to hammer away at the Queen of Corruption, Hillary Clinton, I find the possibility of him as President preposterous. This is a man who should only appeal to idiots, romantics, and 15 year old girls.
I must be dead, this must be purgatory!
I would do The Donald but I don't have the stomach. How did we get to this place?
I have to update this with this video:
Bernie Sanders Praising COMMUNIST BREAD LINES
What an incompetent fool!