And I Almost Flunked Economics?

This is the headline I saw when I clicked on the New York Times web site.

G.M., Citing Progress, Reports

Loss of $1.15 Billion

Yes, this is good news.  G.M. will apparently start repaying its government loans in December, 5 years ahead of schedule.

I shouldn’t admit this, but I don’t understand how losing more than a billion bucks in a quarter is a good thing.  Though I suppose it is better than losing two billion.

And please don’t try to explain.  I still won’t understand.  I just won’t.

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About Gerry

I've been covering Connecticut news and sports since 1974. I know, I don't look that old.
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6 Responses to And I Almost Flunked Economics?

  1. I’m with you, Gerry. ” Dismal ” doesn’t even begin to describe my college economics experience. Maybe Li’l em Keynes can help you out with this. He majored in Finance I believe.

  2. Gerry, I, too, saw the breaking news headline on the NYT website this morning while doing my business and nearly dropped my iPhone into the toilet. If bleeding that much cash is “progress,” then George Orwell is smiling somewhere.

    And, oh yah. I barely passed macroeconomics, too. But I know how much an iPhone costs, so I held onto it!

    • Gerry says:

      Terrence, I was so glad I even thought I passed my econ final I ran back to the dorm and swilled a quart of Tango. (Kids, don’t try that at home.)

      And Terry, sounds like our “grasp” of economics is about the same.

  3. Kathryn D. says:

    I picked up the hardcopy of the NYT on front steps of our office building this morning…..I thought I was seeing things! Incidently, it was directly next to the story about drug companies raising their wholesale prices: from page 1,

    “in the last year, the industry has raised the wholesale prices of brand-name prescription drugs by about 9 percent, according to industry analysts. That will add more than $10 billion to the nation’s drug bill, which is on track to exceed $00 billion this year. By at least one analysis, it is the highest annual rate of inflation for drug prices since 1992.”

    That was the year Clinton was elected and the drug manufacturers feared controls back then.

    Perhaps they can use the money to acquire more property via “eminent domain”.

  4. Kathryn D. says:

    Oops , to exceed “$300 billion this year.

  5. Ed the Yankees fan says:

    Agreed.
    Losing over a billion dollars means they will be able to repay the government sooner…..HUH???!!!
    How?

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