Yeah James whatever
March 25, 2005
Ceasar was supposed to be a god. Julias Caesar was killed on the Ides of March. (March 15th)
Today, we don’t make men gods. Instead society has made our financial system into a false god.
On March 15th, 2005, (the ides of March) we may have just witnessed the beginning of the death of our financial system as General Motors stock took a nosedive from $34/share down to $30.
It does not seem like much (GM down just over 10% in one day), but as of March 17th, the stock is down to $28.35, and the market cap is down to $16 billion. (GM is down nearly 18% for the week.) It’s the type of volatility that we usually only see in silver stocks!
What does this mean?
GM’s stock price decline is like a dagger right into the heart of the U.S. financial system, and the dollar itself!
Why did it happen?</i>
Scary stuff. Just a hint- don’t make any long-term purchases that you can’t afford to pay off like real quick. Since, as the dollar and our economy gets worse and worse, you’ll see things such as credit card companies doubling the minimum payment level per month. Which they did, soon after the new kickback to the financial services industry passed, (called the bankruptcy bill). Things will continue to get tighter for the majority of the country (and really, really bad at the lowest levels) while people who make money off of money will be swimming in fat city.
My question is this. Didn’t some book that these right-wing fanatics supposedly follow have something akin to “Throw the moneychangers from the temple”?
Just a thought.
