Wednesday, January 24, 2018

GE - the Poster Child of the Failure of Obamanomics

After reading this article on the decline and fall of General Electric - I couldn't but help but think that Obama did for GE what he did for that community in Chicago he helped "organize" - left it in ruins.

Once thought to be "too big to fail" it is quickly becoming the "biggest to fail". To quote the article, "GE opened at $29.37 a share on Election Day, when the Dow was at 18,332.43. On Tuesday Jan 23, GE closed at $16.30 (down about 45 percent), whereas the Dow closed at 26, 210.81, up about 42 percent."

Some Obama apologists say the healthy economy during the first year under President Trump is just an extension of and a direct result of President Obama's economic policies. If that's the case how do you explain GE? No company was more closely tied to Obama's economic policies - and following those policies has led them to ruins.

Just like that "community" in Chicago Obama helped "organize".

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