RSS Feed by Calculated Risk on 1/23/2009 10:36:00 AM
Friday, January 23, 2009
GE: "2009 to be extremely difficult"
From the WSJ: General Electric's Net Slides 44%.
Here are a couple of slides from their investor presentation:
Click on table for larger image in new window.
The credit loss estimate is $2 trillion - just a little lower than my estimate of $2 to $2.5 trillion (Roubini's estimate is $3.6 trillion now!)
The good news is a "broad deflationary cycle" begins!
Look at mortgage delinquencies: 10.74%!
And commercial delinquencies are rising faster too.
