Mike Pouraryan
GM, The Economic & Political Malaise
:
It's getting scary out there.....
Today, GM announced a 15.5 Billion Dollar loss. Despite all that GM has done, people just aren't buying the products anymore. GM"s CEO was trying to paint an upbeat picture, but it still was a shocking number.
The problem is where we do we go from here? The economy is suffering on all fronts. With the credit squeeze and the job losses, I have to wonder where this will end. People just don't want to spend. For the recovery to occur, there has to be a massive infusion of funds and a radical shift in priorities. At this stage, all I am seeing is just simply a wait-and-see attitude. My take on the interview with GM's CEO was this. They are planning on a 2010 turn-around. So, to me, the pain and suffering will simply get worst.
Judge For Yourself (Courtesy of MSNBC):
The political campaign is becoming more and more a comedy show. While business continues to suffer, people are losing their jobs (51,000 in July), the debate between the candidates is on who is more patriotic. Senator Obama came out with some interesting ideas today on a $ 500 rebate for fuel & other matters. But, the deficit is the 1000-pound guerilla in the room. There is also NO credible debate on healthcare. The run-away cost of healthcare will break America. We have to wake up to it now. Uwe Reinhert of Princeton has continued to challenge the conventional wisdom on healthcare. This talk he did in 2003 is so insightful because we have failed to listen. We have to listen..and listen now.
The problem is where we do we go from here? The economy is suffering on all fronts. With the credit squeeze and the job losses, I have to wonder where this will end. People just don't want to spend. For the recovery to occur, there has to be a massive infusion of funds and a radical shift in priorities. At this stage, all I am seeing is just simply a wait-and-see attitude. My take on the interview with GM's CEO was this. They are planning on a 2010 turn-around. So, to me, the pain and suffering will simply get worst.
Judge For Yourself (Courtesy of MSNBC):
The political campaign is becoming more and more a comedy show. While business continues to suffer, people are losing their jobs (51,000 in July), the debate between the candidates is on who is more patriotic. Senator Obama came out with some interesting ideas today on a $ 500 rebate for fuel & other matters. But, the deficit is the 1000-pound guerilla in the room. There is also NO credible debate on healthcare. The run-away cost of healthcare will break America. We have to wake up to it now. Uwe Reinhert of Princeton has continued to challenge the conventional wisdom on healthcare. This talk he did in 2003 is so insightful because we have failed to listen. We have to listen..and listen now.
