In July of 2007, when the Dow hit 14,000 for the first time, I forecast that all 6 of the "Big 3" airlines and "Big 3" automakers would be out of business within 5 years.
While it may be technically a little early, and I still have a few years left, I'm going to declare victory on 4 of the 6 right now, based on the insignificance of what little business remains. At this point, none of these corporations are remotely significant to the US economy, nor are they capable of generating significant income, employment, or tax revenue. They are operating in a state of chaos, hemorrhaging red ink, and have gone bust but for a shell and a name. The remaining 2 are close on their heals.
Yes, it is probable the US government will put some of them on perpetual, debt-raising life support, to generate unlimited profits exclusively for the non-US-citizens who own the privately held Federal Reserve Corporation, who in turn own our Congress and the President. I'll count those as double-wins in terms of forecast accuracy, since that's far worse for Americans than if the companies simply disappeared. Under the foreign-owned-Fed's plan, they get transformed into conduits designed to export our wealth to super-rich non-citizens. GM and Chrysler already fit that characterization, generating some $20B in annual interest payments to foreign interests, in the form of US taxpayer guaranteed loans.
Gone, but for a name:
- United @ $1B Market Capitalization
- Delta @ $5B Market Capitalization
- GM @ $0.5B Market Capitalization
- Chrysler @ est. $0.4B Market Capitalization
...and the Global Depression is just getting rolling.
