Given Barack Obama’s ideological leanings, is this really a surprise?
No wonder Jeffrey Immelt is the chair of The President’s Council on Jobs and Competitiveness.
GE CEO Jeffrey Immelt and Charlie Rose agreed this week that “state run communism” works.
“Really, the one thing that actually works, you know, state run communism may not be your cup of tea but their government works.”
Yeah, it’s a WONDERFUL system….well, if you don’t care about stability, freedom, or choice.
Actually, come to think of it, that’s a huge overstatement.
China does do a few things well. It doesn’t have a debt or ridiculous government regulations that stop common sense economic projects, for example, but even its economy is HEAVILY overrated.
China has hundreds of millions of its citizens in rural villages living in a level grinding poverty that’s practically unknown in the United States. Its economic growth? It’s a result of moving people from those villages to the cities where they’ve gone to work in factories making products for foreign companies. China is not innovative, it’s highly corrupt and when its economic growth slows down significantly for a year or two, it wouldn’t be a surprise if China has major unrest spreading across the country.
China is moving in the right direction because it’s moving away from communism and towards capitalism — which is the primary lesson the Obama Administration should take away from that country. Instead, Obama is trying to move the country away from capitalism towards a more socialistic/communistic economic model at a time when even the Communists have figured out it doesn’t work.