John Deere cut more than $1,300 jobs in Iowa so far this year
I feel for the loyal workers at John Deere, who for decades created wealth for the billionaires, and doing so at great cost to themselves, both physically and mentally. I’m sad for the 1,104 Iowa plants workers that have lost their jobs this year alone.
I think it’s safe to say the jury’s no longer out; the supply-side promise was and remains a failure for the economy at large. The wealth never trickled down and the lower tiers of society, which are on an accelerating decline, and that’s caused all kinds of societal dysfunction (decay, crime, illness, homelessness).
It's a fundamental fact that commerce relies on robust economic activity – a balance between cost of living and living wages – but no one’s explaining how the growing working-poor sector is going to keep Iowa business afloat. Sub-living (& lost) wages for Iowans is cutting into business’ ability to remain a going concern in our state.
Slashing payroll to fund stock dividends and $845 million in buybacks per quarter takes a giant dump on the American dream and the patriotic spirit that grew this country into the world's most prolific maker of goods and creator of wealth.
What's happening now should scare the hell out of every stockholder and corporate executive across the Midwest.
| Waterloo | 549 |
| Davenport | 230 |
| Ankeny | 166 |
| Dubuque | 100 |
| Urbandale | 59 |
| 1,104 |
