This Is Not About Just General Electric.

It is metaphysical, if one wishes, and is absolutely crucial for the future of civilization as a whole. 

While GE’s struggles impacted the decision by the index committee at S&P Dow Jones Indices, there were other factors at work. Committee chair David Blitzer also said that the economy has changed since the Dow was first institutionalized — health care, technology, finance and consumer companies have been, and will continue to be, more prominent than industrial companies.

“When it was the Dow Industrial Average — I think it’s now just the Dow Average” Nardelli quipped.

As I said not for once--American "economics" is a detached from economic reality creative bookkeeping voodoo pretending to be a science. I have news and suggestion for Mr. Blitzer (no, not the moron from CNN)--go back to REAL academic institution and learn real history of the world outside the US and recall whatever they taught you in whatever engineering program you attended when you were young. In the news--we still live and continue to live in INDUSTRIAL world in which real strength and prosperity is defined not in financial bubbles or "capitalization" of the "stocks" but in industrial and technological self-sufficiency of a nation and that requires what GE does. 

Here it is--a "level" of an American Ph.D. in "economics"--a worthless piece of paper not even good for ass-wiping. Yes, Mr.Nardelli, I hear you and agree--Dow Average today is on its way of becoming irrelevant in a real (not make believe BS) global real industrial economy in which machine building and enclosed technological cycles always were, are and will remain defining in how the world moves, while the US will continue her slide towards the bottom of service based FIRE economy which produces... well... zilch. As I said: who's next to be "expelled" from Dow? Boeing, Ford? And why not--those companies have lower "capitalization" than Face Book which is...what...200+ pages of code and several buildings with servers produced by.... fill in the blank.  The sheer idiocy of American so called "elites" is stunning.