Money Doesn't Grow On Trees; Or, Does It?
GM's credit rating recently took a dive and the following statements by Fitch Ratings reveal the TRUE source of our nation's wealth and demonstrate how, effortlessly, interest-based growth guts our physical economy.
Fitch didn't lower the rating for GM's finance arm..."Translation: Making cars isn't profitable when you have to pay workers AND interest; but lending is very profitable, the interest comes to you and the money does the work!
a LABOR disruption at Delphi for any extended period would have an immediate impact on GM's ability to operate and would quickly reduce liquidity," Fitch said.Translation: Labor is REAL wealth; without labor, money cannot be made!
"GM had $19.2 billion in cash as of Sept. 30, Fitch said. The company has $31 billion in outstanding debt."Translation: A "modest" 5% APR on those outstanding debts results in over $1.5 billion in interest annually.
How many people must labor to earn $1.5 billion dollars annually?
And, it grows exponentially every day.
"GM spokeswoman Gina Proia said the company is taking steps to restore profitability, including reaching a tentative agreement with the United Auto Workers to cut health care costs, reducing its structural costs and committing to using 100 percent of its North American plant capacity by 2008."Translation: [insert whipping sound] Work! Dammit! Slave! No Benefits! No Health Care! You must pay the interest AND make a profit!
Money doesn't grow on trees!!!
OH, YES IT DOES!!!
It's printed on paper by OUR government! And Paper Is Made From Trees!!!