GE's (GE) Immelt Says Economy As Bad As Early 70s, Maybe Worse

Industrials

Published: February 5, 2009 11:16 am

Last Updated: April 27, 2020 10:04 pm

Ge_large It is worth noting when the head of the world’s largest conglomerate comments on how bad the economy. Jeff Immelt made some grim comments this morning. They speak for themselves.

According to Reuters, "The U.S. economy is in its worst shape since the deep recession of 1974 and 1975, and if it deteriorates further the most meaningful comparisons will be to the Great Depression, General Electric Co (GE.N) Chief Executive Jeff Immelt said."

Douglas A. McIntyre

The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)

If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%¹ today. Checking accounts are even worse.

But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn a $200 bonus and up to 7X the national average with qualifying deposits. Terms apply. Member, FDIC.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

¹https://www.fdic.gov/national-rates-and-rate-caps