VW's entire market cap, as of this morning, is $81.15 billion.
If you are going to make the crazy claim that they somehow announced a $300 billion spend, well, I'd like to see some sort of proof.
Yeah and they supposedly
as a group bring in 280 billion a year. So its about 1 year's revenue over 7 years they'd have to spend to save themselves. Kind of like making a 100K a year and then buying a 100K home, but they can't even do that to save themselves because they are utterly pathetic.
I don't follow VW but your mag follows this stuff. I don't make stuff up. It came from the very top of VW (over the summer I think) and it was in in response to competing with Tesla.
Here is a pretty stupid article that tries to blather about VW's profit (
https://www.forbes.com/sites/panosm...4/volkswagen-is-taking-on-tesla/#309a762497d9) in the just the same way as the tripe about GMs fake profit. But allow me to point something out VW's claimed profit is at about the zero rate- so is it actually profit? I'd argue just as with GM that its not. Its probably so low so as to not attract attention to its actual welfare transfer payment nature. Funny that VW's market value relative to revenue is so low- could it be lower than book value??? Oh damn it is LOL hilarious .79 price to book value. VW is worth less than the sum of its parts. That is what the market thinks of this petrol relic. Wisdom of the market!
Lets rewind a little bit and think about GM's bankruptcy. The one it tried to blame on the UAW- complete fiction given what even firms like BMW were able to do relative to GM. But lets remember some key stats to fill in how pathetic GM actually was and is.
So the Wall falls. But across the 90s while CAFE stays flat and the US population goes up 13% petrol retail stations decrease by 16% because even the Iraq war 1 petrol bailout wasn't enough to save that pos industry- remember its purpose is to create artificial scarcity to prop up obsolete capital while hollowing out the public sector (Powell memo type crap- the new plantation economy for the post capital world)
Fast forward to the 2000s. Hillary is working for Cheney trying to ***** the natural gas scam. Like your drinking water on fire? Bridge fuel- the lies never end. So in trying to rescue pathetic petrol which has more and more catastrophic crashes on cue (remember its designed to hollow things out with is ultra low 13% economic efficiency) they do the Enron scam, the 911 scam, the Iraq 2 scam the Afghanistan scam- each one a pathetic petrol bail out and then finally blind stupid petrol debt in the form of derivatives (has to be blind by law because its so stupid a risk) collapses the global economy on cue. So despite bailout after bailout under W., what happens in the most petrol focused environment ever to GM? Well punch line, it went bankrupt but it is nothing but a bs petrol welfare transfer payment scam run by people who make products designed to fail convincingly on cue and who say ironically that an auto is an inefficient use of capital.
So ask yourself the acid test question. How profitable was GM supposedly right before it went bankrupt.
Here is a little hint:
G.M. Profit Down 90% From 2006 - The New York Times
www.nytimes.com/2007/05/04/business/04auto-web.html
May 4, 2007 - DETROIT, May 3 — The General Motors Corporation reported a 90 percent decline in first-quarter profit today as losses at its finance arm overshadowed the gains from restructuring its automotive operations. G.M., which fell behind the Toyota Motor Corporation in the first quarter to become the world's ...
hmm what was happening to GM in the middle of the most petrol favorable environment ever? Well its a petrol front so it failed and tellingly started failing right before the actual crash. Hmm is little curious isn't. Well they push their fail to the edges of their fakery. They could have let Exxon fail too. But that would be too embarrassing for the scam. If you consider the actual amount of subsides Exxon gets it has never been much more solvent then Enron but Enron got caught up in trying to blackmail a US state and it back fired. Not surprised at all if the new 500 extra billion dollars a year going to the defense department isn't just being handed over to petrol to prop of Exxon etc cause "the (so called) energy industry is in shambles," Its part of the parasite economy, keeps us away from true surplus and greater liberty, a lead weight around people's lives.
