< HOME  Thursday, November 10, 2005

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!!!


It's printed on paper by OUR government! And Paper Is Made From Trees!!!


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