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Never thought I would see this happen: GM is being removed from the Dow Jones average, along with Citigroup, to be replaced by Travelers and Cisco as of June 8.
At my son’s graduation I turned to another family member and said, who could have imagined the headline today would be "GM Bankrupt"?
I know that some shell of the giant will remain intact. But it is a moment to acknowledge. GM is no longer part of the essence of American economic statistics: it’s gone from the Dow Jones. It’s at the penny stock level.
I feel that I need to remove my hat as the sorry truth marches by.
6 Comments
sad sad day, thanx for this post
In a way, this was foretold by Reagan’s big push to change America from ‘a country that makes things’ to ‘a country that sits in front of computers made in another country’.
reagan’s big push was to create a robber baron society, it worked incredibly well during his own adminstration, the middle class almost disapeared, mom and pop shops open for two and three generations closing down every single month, all the while the news broadcasting what a wonderful economy we enjoyed
this has been a redistribution of american assets, from the people who produced that wealth to the people who do nothing and think they are entitled to make profit doing nothing
reagan must be exposed for the harm he’s done and every time a talking head tries to honor the second worst president in history there really has to be push back against that lie
Oh…please yes, Reagan needs to be exposed. I am so tired of the mantra that he was a great president…no…he was a figure head a popular “guy” for a group of individuals with a fascist flavor.
perris,
I agree with you @3 about Reagan.
But if it hadn’t been Reagan, it would have been some other president (R or D) who would have ushered in the era you describe.
I’m not sure about that, reagan was a moron and a puppet, there would have had to be a differant moron or puppet and I think reagan wound up becoming their prototype
at that time, what he did to this country couldn’t have been done by a man with a brain imho
we’ll not know the answer to that anymore, the repukes are now only interested in running morons, take for instance palin, mccain, etc