What does GE’s crash say about the overall market as banks and institutions face massive bankruptcies? Here’s some insight…
Josh Sigurdson talks with author and economic analyst John Sneisen about the fall of General Electric (GE) as the company gets incredibly financialized and falls with the rest of the banking system.
Once the greatest company in America is now reduced to a tiny share price with a vast debt load. After the 2001 dotcom bubble, the company never truly recovered. It got deep into the financial market with GE Capital and attempted to save itself that way, but with 2008 leading into 2019, the company has almost nothing left. They aren’t innovating. They aren’t producing much of anything, they’re just a shell.
John explains how this has come to happen to the company once credited with bringing the United States out of the Great Depression (falsely of course) and what this says about the overall market as banks and institutions face massive bankruptcies.
This is all part of the global currency domino effect!