Boeing was the pride of the USA. Its first Chief Aircraft Engineer was a Chinaman. For several decades, Boeing's reputation was unquestioned. Boeing was quality! Boeing aircraft falling from the sky was unheard of. Parts falling off from Boeing aircraft too was unheard of, till recently.
What did Boeing did wrong? What caused the downfall of this American family jewel?
Anyone still remember the American financial crisis that turned into an international crisis and know who did it? Why were so many American banks, big banks, caught with big losses that could crashed these banks?
Who created this deadly thing called derivatives that turned the stock market and the big banks into a house of cards. All it needs is for someone to pull a card and all will come crashing down. The quadrillions of funds tied to derivatives that can blow up like a nuclear bomb is waiting to do just that, blow up all the banks, the stock markets and the international financial system. The derivative bubble is now many times bigger than during the financial crisis. The whole financial and banking industry is like hanging on a burning thread...living dangerously.
Who created all these problems that are going to create the mother of all crashes?
Oh, what have all these got to do with Boeing's problems? Today's Boeing is not the same American Boeing of yesteryear. Today's Boeing should be called Boeing India. Many of its executives, engineers, technicians, software programmers etc etc are Indians.
Why do you think Elon Musk sacked a whole team of Indian managers and executives when he took over Tweeter now called X?
By now everyone should know what is the main problem of Boeing and the decline of the American economy. If still in doubt, ask who replaced the nuts and screws in the Starliner from Titanium to Stainless steel that turned a US$6 billion white hope for space travel into a dangerous and useless gadget?
Nobody talks about the quadrillions of derivatives hanging in the books of big banks. No one, not the MSM, not the big banks, not the Fed, not Trump, Biden or Harris. The problem does not exist at all. It is all misinformation created by doomsayers. You see, kicking the can further down the road solves the problem. Or not talking about it solves the problem as well. Or denying there is a problem solves the problem.
ReplyDeleteThere is actually a big balloon fueling all the perception of wealth. The banks alone created so much fictional wealth with their fractional lending system. A hundred dollars deposited by someone can generate almost a thousand dollars to lend to customers. And where does all this go to? Banks lend all this out to fund buyers of properties, cars and stock market speculators, presenting a very prosperous world, a big balloon that keeps growing beyond imagination and unstoppable but hiding behind it is the mountains of debts hidden among the signs of prosperity in the books of the banks.
Thinking of it, just unbelievable.
No competition means no innovation or improvement and that fuels a complex of untouchable superiority that no one can touch, so no need to improve. That is their downfall.
ReplyDeleteAs Boeing falls, another rises. No need for regret. That being said, more entities will fall apart sooner or later. There is little to gloat about when you are at the top, as the wheel of fortune is not the prerogative of the USA alone to dictate.
The way they ignore this derivative problem is the same as denying the destruction of the stock market caused by the introduction of derivative trading. For nearly 20 years, the stock market was practically undermined by the presence of derivatives and computer assisted algo trading. Now it is a skeleton of its old self and they are asking why. Like real.
ReplyDeleteThey did not know why, pretend not to know why and expect the ignorant public to tell them why.
What a big joke. The stock market had been killed long time ago. Who wants to list his company in a stock market that turns his share into penny stock with no regards to the fundamentals of the company?
They cannot solve the USA debt of US$35 trillion problem now, not to talk of solving the derivative problem. The derivative problem puts the USA debt problem in the shade, just a trickle in comparison. That is how huge the problem is. Unsolvable! Unwinding will lead to the collapse of most of the big banks and smaller ones too.
ReplyDeleteWho created this problem? Smart and greedy bankers who refused to learn lessons from the 2008 financial crisis. They know the USA Government, Republicans or Democrats will just kick the can further and further down the road, each throwing the problem into the future hoping the next President inherits and explodes the time bomb. No way will they even try to solve it.
Boeing should take full advantage of India's talented pool of engineers and technicians and move its manufacturing plant to India, including the space wing that builds the spacecraft.
ReplyDeleteIf Boeing is not fast enough, all the talented engineers and technicians would be in Singapore under CECA.
Hahaha, well said!
DeleteRight! Plus, they only need to pay cheap wages to Indian engineers and technicians for bigger profits. USA will not call it slave wages in the beginning. They will just continue to enjoy the cheap labor until when relations sour. Then they will claim Boeing planes made in India are made by slave wages. Lousy stuff. Unsafe. Like children's toys. Must take action to ask Congress to pass an act to punish India. Later must sanction India for violation of human rights.
ReplyDeleteEverybody seems to know the workings in the USA playbook.
ReplyDeleteDon't say Boeing is failing. They still think it is great.
ReplyDeleteAfter the two 737A crashes it had been downhill. Smoke in cabin, doors falling, bolts missing, landing gears falling, even failing in its venture into space travel.
ReplyDeleteWhat else is left to admire?