Cutting back on US railroads will fuck with rich people too. How do they not see it?
Wanted to make a snarky joke about the inherent contradictions of capitalism and the falling rate of profit, but instead I'll just say that the people who make this decision (cost-cutting and gutting services to the point where they fail more often than not) are not the same people as who will be hurt financially when a disaster strikes. So while Norfolk Southern being starved to death by its own executives will hurt the entire capitalist class, it will also juice the shit out of their returns for the next couple of years before all the deferred maintenance really starts to kick in, and the executives don't really plan for that, since they intend to leave the railroad after their brief stay led to a ballooning stock price, another company is surely going to offer them a nice, cushy, low effort position.
Wanted to make a snarky joke about the inherent contradictions of capitalism and the falling rate of profit, but instead I'll just say that the people who make this decision (cost-cutting and gutting services to the point where they fail more often than not) are not the same people as who will be hurt financially when a disaster strikes. So while Norfolk Southern being starved to death by its own executives will hurt the entire capitalist class, it will also juice the shit out of their returns for the next couple of years before all the deferred maintenance really starts to kick in, and the executives don't really plan for that, since they intend to leave the railroad after their brief stay led to a ballooning stock price, another company is surely going to offer them a nice, cushy, low effort position.