Jeffrey Immelt, Obama’s job council chairman says communism works in China. I think he’s been hanging out with Obama too long.
Appearing on Bloomberg television Monday evening, GE CEO Jeffrey Immelt praised the Chinese economic system and said that state-run communism works in China, according to the Washington Free Beacon]
“China is changing. It may be being stabilized as we speak. What does that mean for China and what does it mean for the United States? Should it change expectations?” Charlie Rose asked.
“It is good for China,” Immelt told Rose. “To a certain extent, Charlie, 11% is unsustainable. You end up getting too much stimulus or a misallocation of resources. They are much better off working on a more consumer-based economy, less dependent on exports.”
[Good old Jeff didn't mention the advantage of using slave labor]
I’m sure Immelt and Obama would love the Chinese system in the states. It would be much less “messy” than a democracy, to borrow a phrase from Obama.
In an address on Latino issues, Obama once said he’d like to “bypass Congress and change the laws on my own.”
He told the National Council of La Raza, “Believe me, the idea of doing things on my own is very tempting. I promise you.” He said much the same thing to a Chinese audience a few years ago.
Actually, Obama bypasses Congress all the time so I don’t know what he was talking about.