Insolvency as the New Norm in the United States' Economy
Yesterday:
According to reports of earnings, which are accompanied by "lesser flattering" data, Intel which reported on Thursday saw its debt rising to over 50 billion dollars ($50.537bn), which means Intel is anything but recovering. It's just being bailed out by a very corrupt government, which became not just an investor but an inside(r) trader.
Worse yet, the telecoms are insanely in debt. Charter Communications, Inc is about 100 billion dollars in debt with a market cap of $17,581,543,931 according to NASDAQ or $15.17 billion according to other sources.
How can a company borrow money about 6 times more than it is "worth"? Verizon is no better off with over 200 billion dollars in debt. This seems like an economy that circles round the toilet bowl. The US national debt is about 40 trillion dollars (probably more by now) and "[t]he Treasury just declared the U.S. insolvent". With 18% increase in homelessness in one year it's not hard to see that this is vastly worse than then 2008 subprime mortgage crisis. White-collar crime is totally being tolerated. █
