Amgen Lays Off 2,900 Workers, Stock Soars: Implications For Wealth Redistribution

Alan: The following Amgen comments were taken from friend Fred Owens' Facebook page. 

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Amgen shares jumped to an all-time high Wednesday morning, a day after the biotech giant announced a restructuring plan that includes up to 2,900 job cuts."

Why not just fire everybody?

Amgen stock soars to record high on news of planned job cuts

www.latimes.com

Amgen shares jumped to an all-time high Wednesday morning, a day after the biotech giant announced a restructuring plan that includes up to 2,900 job cuts.

Dear Fred,

"Capital's" unacknowledged (?) aspiration is to automate all production. 

Pretty soon, driverless cars will be the norm - just as pilot-less F-16s are now a reality. http://video.boeing.com/services/player/bcpid1173939806001?bckey=AQ%7E%7E%2cAAAAukPAlqE%7E%2coAVq1qtdRjwBrIkHYj2MSytJiEK9s5fy&bclid=0&bctid=2684464741001

Capitalist big wigs are also aware that commoners' need money to purchase products to propel "the economy." 

Even so, The Great Recession teaches that "Capital" cannot restrain its urge for wealth sequestration which implies concomitant pauperization of commoners. 

"99 Must Reads On Income Inequality"

http://paxonbothhouses.blogspot.com/2013/08/99-must-reads-on-income-inequality.html

Social and political upheaval will correct this imbalance.

George Soros thinks America's pending recalibration of economic norms will involve "fighting in the streets." 

"George Soros On The Coming U.S. Class War"

http://paxonbothhouses.blogspot.com/2012/02/george-soros-on-coming-us-class-war.html

Whether the new "New Deal" is achieved through violence or peaceful political process, it is clear that automation will continue to eliminate blue collar jobs as part of the sea change that will, as night follows day, redistribute wealth as automatically as production occurs automatically. 

"Automation, Robotization, Software-Enhanced Productivity And Permanent Job Loss"

http://paxonbothhouses.blogspot.com/2012/02/automation-robotization-and-job-loss.html

Your Swiss kin -- like Richard Nixon before them!?! -- are promoting the idea of "free money."  It's just a matter of time. 

"$2750.00 A Month For Every Adult. Guaranteed. The Swiss Are Considering It"

http://paxonbothhouses.blogspot.com/2013/10/2750-month-for-every-adult-guaranteed.html

To prevent psycho-spiritual atrophy, it will be necessary -- as my father predicted in the 1950s -- that all citizens be educated in artistry and craftsmanship rather than mere forebearance of "grunting fardels."

Pax on both houses,

Alan