Our Wizard-of-Dunce thought dealers are right now wondering why their Monetary and Fiscal alchemy taken to Level 11, is no longer working. This is Rob Reiner discussing Monetary Policy with a Central Banker:
Modern Economics is a colossal failure. It's morally, intellectually, and soon-to-be financially bankrupt.
People can only "consume" in proportion to what they "produce". But the market value of what they produce and hence consume is a function of both their productivity AND the relative competitiveness for what they produce. Meaning that even if I can produce $10 per hour of output, if someone else can AND will produce the same amount for $1, then $1 is the going wage, not $10. I'm now no longer a "consumer". There's an unlimited supply of cheap labour on this planet, something the text books don't mention.
Jack Welch, former CEO of GE:
"Ideally you'd have every plant you own on a barge." Meaning, ready to move if any national government tried to impose restraints on the factories' operations, or if workers demanded better wages and working conditions.
Jack Welch, former CEO of GE:
"Ideally you'd have every plant you own on a barge." Meaning, ready to move if any national government tried to impose restraints on the factories' operations, or if workers demanded better wages and working conditions.
The concept of the consumer was invented by Ponzi schemers who wanted *free* trade agreements to amplify profits, and hence had to rationalize away systemic job loss.
The only consolation is knowing that they will be losing their jobs as well while having no clue what's coming. Because no one needs overpaid dumbfucks who know absolutely nothing, when the economy collapses. And no one needs rent-seekers living off a worthless casino.
Hopefully we'll be smarter next time and realize that the "consumer" lives with the Sasquatch. And therefore any country that trades with Third World countries which have no labour or environmental standards will either lose all of its jobs and industries OR abandon the labour/environmental standard.
That's arbitrage. Finance 101 for total fucking idiots.
No consumers, no revenue, no General Electric...
Q3/2015:
"It was a bad time to be the most leveraged company in the S&P 500, and the Dow stock with the third largest revenue decline..."
GE had the largest stock buyback of 2015 (tied with Apple): $50 billion aka. 3 years' equivalent profit. And yet the stock still couldn't break the '07 high much less Y2K high.
This piece of shit was at $5 in 2009, this time it's going to zero:
No consumers, no revenue, no General Electric...
Q3/2015:
"It was a bad time to be the most leveraged company in the S&P 500, and the Dow stock with the third largest revenue decline..."
GE had the largest stock buyback of 2015 (tied with Apple): $50 billion aka. 3 years' equivalent profit. And yet the stock still couldn't break the '07 high much less Y2K high.
This piece of shit was at $5 in 2009, this time it's going to zero:
