I worked at
both companies. It is disheartening to
see these companies sinking.
From Zero Hedge:
.. GE and GM are both telling us the US economy is in huge trouble.
America’s twin economic
“generals” are both in very deep trouble.
General Electric was founded in 1892, and it was
once one of the most powerful corporations on the entire planet. But now it is
drowning in so much debt that it may be forced into bankruptcy.
General Motors was
founded in 1908, and at one time it was the largest automaker that the world
had ever seen. But now it is closing a bunch of factories and laying off
approximately 14,000 workers as it anticipates disappointing sales and a
slowing economy.
If the U.S.
economy really was “booming”, both of these companies
would probably be thriving. But as you will see below, both of them have
been victimized by the exact same Ponzi scheme, and both firms are sending us
very clear signals that the U.S. economy is heading for troubled waters…
Combined, General Electric and
General Motors have blown more than 53 billion dollars on stock buybacks, and
now both companies are in huge trouble.
The executives that gutted
the finances of both firms by engaging in these sorts of Ponzi tactics should
all be fired and should never be hired by anyone else in the corporate world.
For years, big
corporations have been borrowing massive amounts of money to fund reckless
stock buybacks, and that has helped to fuel an amazing bull market run.
But now the game is imploding, and the unraveling of this massive Ponzi
scheme is not going to be pretty.
https://www.zerohedge.com/news/2018-11-28/general-motors-and-general-electric-highlight-ponzi-scheme-us-economy
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