Wells Fargo Is Plotting to Privatize the Post Office - Jacobin magazine

The Post Office: A Target for Privatization?

The United States Postal Service (USPS), a vital institution woven into the fabric of American life, is facing an unprecedented threat. Whispers of privatization, long a concern for postal workers and advocates, have intensified, fueled by a powerful confluence of forces seeking to dismantle this public service and transform it into a profit-driven enterprise.

Recent reports suggest a concerted effort, spearheaded by influential financial players, to dismantle the USPS piece by piece. The strategy appears to be multifaceted, targeting the agency’s most profitable aspects while simultaneously undermining its ability to function effectively. The core of this plan seems to involve a systematic sell-off of profitable segments – potentially lucrative delivery routes, specialized services, and valuable real estate holdings – effectively stripping the USPS of its most viable revenue streams.

This dismemberment would be accompanied by a drastic reduction in the postal workforce, particularly targeting unionized jobs. The elimination of these positions, often characterized by fair wages and employee benefits, would not only devastate the lives of thousands of postal workers but also cripple the USPS’s operational capacity. With fewer employees handling increased workloads, delays and service disruptions would become commonplace, further jeopardizing the viability of the remaining service.

The final, and perhaps most insidious, element of this privatization scheme involves a dramatic increase in postal prices. Reports indicate price hikes of up to 140 percent are being considered. This would inflict a significant blow on consumers and businesses alike, particularly those who rely on affordable and reliable postal services, such as small businesses and rural communities. Such a massive price increase would likely drive customers to alternative, often more expensive, delivery services, further weakening the USPS’s financial standing. This is a self-fulfilling prophecy designed to render the USPS so unprofitable that privatization becomes the only “logical” solution.

The driving force behind this alleged plot is a complex interplay of political and economic interests. Powerful figures within the financial sector, including prominent banking institutions, stand to gain enormously from the privatization and subsequent exploitation of the USPS’s assets. Their influence, coupled with a broader ideological push towards deregulation and privatization, is creating a perfect storm for the dismantling of this public service.

The implications of such a privatization are far-reaching and potentially devastating. The affordability and accessibility of postal services are crucial for maintaining a functional society, particularly for those in rural areas and low-income communities. The loss of this vital public service would exacerbate existing inequalities, disproportionately impacting those least able to afford more expensive private alternatives.

The fight to preserve the USPS is not just a battle over postal rates and efficiency; it’s a fight for the preservation of a crucial public service, a symbol of equality and access in American society. The proposed privatization plan is not merely a financial maneuver; it’s an assault on the very foundations of public service and a stark reminder of the power wielded by corporations aiming to profit from the dismantling of essential public infrastructure. The future of the USPS, and indeed, the accessibility of vital services for countless Americans, hangs precariously in the balance.

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