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General Electric Co. (NYSE: GE) is in serious financial trouble, which is why the GE quarterly dividend is being slashed from $0.12 to just $0.01 starting in 2019. The money from the dividend cuts will save GE $3.9 billion in cash per year, according to Fortune.
Today (Oct. 30), GE announced worse-than-expected results in its Q3 earnings report. The GE Power division lost $631 million, and the company missed earnings per share (EPS) and revenue expectations.
Analysts expected EPS of $0.20 on $29.92 billion in revenue.
GE reported $0.14 on $29.57 billion.
And unfortunately, GE is just one of the latest examples of a former juggernaut hanging on by a limb.
You see, investors know the bull market ride is coming to an end.
And the greatest economic crisis in 75 years could change everything…
It will drive millions of seniors to the brink of bankruptcy and dependency. And beyond.
Trillions of dollars in home mortgages, auto loans, and credit cards granted to struggling pensioners will default. The companies behind these loans will stumble and fall.
Corporate revenue and earnings will plunge – first, as seniors stop spending and secondly, as millions of younger consumers and investors read the writing on the wall and run for cover.
Stock prices will implode. The bond market will crash and burn… interest rates will skyrocket… the entire economy will grind to a virtual standstill.
Just like it did back in 1929.
Time Is Almost Up: The greatest economic catastrophe is about to blindside investors – find out everything you need to know to weather this market storm. Click here now…
And believe it or not, that's actually the most optimistic view you're likely to see from any serious analyst at this point.
The news is shocking, to say the least. For the second time in 18 years, the incompetent and corrupt fools who run some of America's largest financial institutions are only a few weeks away from bringing the U.S. economy to its knees.
They have conspired with Washington legislators and regulators to sentence the entire U.S. economy to a crisis of almost biblical proportions.
Once again, they have lit the fuse on a financial disaster that will cost everyday people trillions of dollars.
This time though, it's America's estimated 70,000 pension funds that could be at risk…