this post was submitted on 24 Sep 2023
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Pouring concentrated sugar down someone's throat will give them an energy boost, but there will be consequences if you do too much.
That was Reagan's policies. Most of the "wealth" generated only existed on paper.
Take GE as an example. They used to have a bunch of factories and products that they made in those factories. Then the 80s hit and Jack Welch took over as CEO. He scrapped the factories and had GE start outsourcing, well, everything. He also used the GE financial department as an illegal bank.
Anyway, the stock price went through the roof, because GE could always claim that they were making all sorts of profit with no expenses... except the truth was that they were basically just an unregulated bank with some product branding deals.
They've gone bankrupt a few times now.
That's how most of the Reaganomics worked. Paper profits as the real wealth went into the hands of the super rich.
That is such a strange and illogical take on things.
GE problems predate Regan. It was bad management.
Here is an another more logical take that more consistent with other experts.
https://www.gatesnotes.com/Lights-Out#:~:text=GE's%20fall%20is%20not%20the,from%20J.P.%20Morgan's%20namesake%20bank).
If you can cite Regan as the failure of GM I’d love to see it. I’ve never seen anyone try to make that link before.
The bad management was Jack Welch, and his bullshit was only possible due to Reagan loosening regulations on businesses.
"legendary CEO" my ass. Dude was a fucking disaster.
You have a cite for that as that does again every expert in the field.
So I like to see where you’re getting this data. Since jack was brought In to save the company. It’s really strange to blame him for saving the company.
https://www.npr.org/2022/06/01/1101505691/short-term-profits-and-long-term-consequences-did-jack-welch-break-capitalism
Strange? Accurate.
He took a healthy company that turned a consistent profit in to a house of cards built on lies. It blew up the stock price for a decade or two before the cracks began to show.
Jack Welch was 100% about short term profit at the expense of long term stability.
His stack ranking fucked over thousands at GE alone, and countless more at all the companies who followed suit. It was and still is a brain-dead policy.
The list goes on, but it all boils down to taking an innovative company and turning it into an unregulated bank, an unregulated bank that was at the heart of the 2008 subprime mortgage crisis.
Did you ignore the previous article which shows the issues predate jack and jack is the one who saved the company?
I’m no fan of jack for many reasons but had he not been the ceo, there would have been no Ge today
Yes, because that article was garbage that had its lips firmly glued to Jack Welshes taint.
GE has a 7% rise in profits from 1979 into 1980. And spoiler, there is no GE today. It's been broken up after it was pulled from the S&P due to massive financial fraud and bankruptcy, all due to following Jack Welsh's management style.
https://www.ge.com/investor-relations/stocks
Ge is till a company
For the moment, but soon it will be three companies.
All because of the fraud.