If you were ever in doubt what type of thinking this administration fosters, this clip should put any debate to rest.
Appearing Monday morning on CBS, Obama’s jobs council head and the CEO of GE Jeffrey Immelt said that one thing that “actually works” is “state-run Communism” in China.
After host Charlie Rose brought up the “growth rate” of China falling from double digits to about eight percent, Immelt chimed in.
“Look, I think it’s good for China,” he said. “To a certain extent, Charlie, 11 to 12 percent 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, driving technology and innovation harder. Really, the one thing that actually works, state run communism may not be your cup of tea, but their government works.”
“They get things done,” Rose responded.
Watch it below:
(H/T: WFB)
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Comments (299)
elosogrande
Dec. 11, 2012 at 10:24amWhat else would you expect from someone who has been in bed with Communists for years? Immelt would be a failure in a Capitalist society, but fortunately for him, he no longer has to worry about that possibility.
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spfoam1
Dec. 11, 2012 at 10:22amJeffrey Immelt isn’t stupid. He knows that he will make more money and have more power if a government run by other people just like him, controls everything.
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dadsrootbeer
Dec. 11, 2012 at 10:16amSo how is that state run communism working for your company Jeff? Looking at how you have done since Jack retired I guess not too good based on what you have done to your stock.
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grams09
Dec. 11, 2012 at 10:15amI worked at GE before and after Mr. Immelt took over. When he took over little by little our “perks” began to disappear (not to mention a drop in stock price) and then at the end of the year the company would announce record breaking profits. Yeah, I know how this guy thinks. You should have seen all the remodeling they did at our office because he was coming to visit us and I was actually told by my boss what questions to ask during a Q & A.
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BruceHenry
Dec. 11, 2012 at 10:15amIf they ever do admit to being a communist it will be the death of them……..
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searcher619
Dec. 11, 2012 at 10:14amChina isn’t communist. It hasn’t been communist for a VERY long time. They are a Socialist Dictatorship experimenting with Capitalism. They are only communist in name. In Communism there is no such thing as private property and no one person can own the tools of production (business). today Chinese citizens do own property and own businesses.
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jim375
Dec. 11, 2012 at 10:13amthe democrats are finally coming out and admitting they are communists…..and i firmly believe they stole the election…..if nothing more than by lying to the millions they promised free stuff to. the sheeple have enslaved themselves to the collective and will never have the opportunity to have the wealth like the immelts and soros’ of the world…..they just voted themselves a deeper share of poverty where they have to depend on the government to survive. if we as true Americans dont stop this we are doomed to fail just like Greece,
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TheMajority
Dec. 11, 2012 at 10:22amWhen nobody investigated SCYTL (a company in Spain who now counts our votes–and are backers of obama and friends with soros), you know we are dealing with the worst people on the planet.
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TheMajority
Dec. 11, 2012 at 10:11amWjere to find a non-GE light bulb.
I found I have to go to Home Depot to find Phillips or Sylvania light bulbs. And I travel across town in my FORD to get there, just for my incandescent light bulbs.
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RedHarley
Dec. 11, 2012 at 10:07amHey……it does work……………for Immelt.
He is working with OUR communist and his company is getting all kinds of contracts and rules/regs that will help destroy his competition.
Why mess around with Crony-Capitalism when you can go full out with Commu-Capitalism..
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baptist_deacon
Dec. 11, 2012 at 10:07amState run communism does NOT work! The Chinese government is actually fascist, not communist. They switched years ago when they started to allow private companies to exist. They just call themselves communists.Just goes to show you don’t have to be wise to run a company.
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TheMajority
Dec. 11, 2012 at 10:19amEconomically speaking, communism takes over private industry, and that is what our government is doing directly today. For decades, we have let our government (china made the decision your talking about in 1978) direct our free market to communist nations.
It is communism, taking over our free market, taking over our Capitalism, taking over our wealth making capabilities.
I see all collectivism eventually turning into a a state where all production and every pay check is controlled by the state, so lets just keep it simple—and call it what it will be,–communism, with no opportunity to competepetempete.
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TarheelFlyer
Dec. 11, 2012 at 10:07amWhen you build whole cities in the middle of nowhere simply to keep the GDP up and keep people employed….yeah, that “works”. They got that “done”. The question would be why and for whom.
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TheMajority
Dec. 11, 2012 at 10:06amYea, communism works for any business in bed with government. That is why you have a hard time finding a Phillips or Sylvania light bulb in almost all of the larger franchised retailers today, while GE doesn’t pay taxes as their competition does.
Don’t worry Jeffery, when the commies are done with you, they will destroy you just like your communism is doing to our free market competition. After your free market competition is destroyed—don’t act too big for your britches.
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Thornyrose13
Dec. 11, 2012 at 10:05amHow amusing that he got it backwards. Communism wasn’t working. China’s boom began when it adopted CAPITALISM, even on a limited scale. China would be an even bigger economic powerhouse were it to allow capitalism to operate more freely. Lucky for us, the desire to control and retain power means China’s leadership will continue to throttle their economy. The only way we lose is by adopting China’s communism, instead of embracing the democratic capitalism that made us a world power.
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IMCHRISTIAN
Dec. 11, 2012 at 10:04amCommunism does not work. Read up on the USSR and it policies on the lower class. Never wish for that type of government or suffer. God Bless America !!!!! Have a Merry Christmas all.
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Moozmom
Dec. 11, 2012 at 10:03amMr. Immelt needs to be deported to China and live there if it’s so great. Communism is not a Republic. Anyone disagreeing with this assessment is an ass.
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huey6367
Dec. 11, 2012 at 10:03amIt gets done? At what cost?
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lusant08
Dec. 11, 2012 at 10:02amPlease read Pradva Russian newspaper and you will find out the thru about Obama goverment is sad to see GE CEO communist or opportunist, why he is not move to China and stay there for ever
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Dougral Supports Israel
Dec. 11, 2012 at 10:01amImmelt should know better. China is successful because they are producing goods at low prices. This is possible because they can pay their workers rock-bottom wages. China isn’t moving to a consumer economy because wages would have to rise and their advantage would disappear. If their citizens had more money their communist system would come under fire and there would be unrest.
There are no wealthy communist countries and there never will be. Tyrants depend on poverty to maintain their power.
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barber2
Dec. 11, 2012 at 10:10amExactly. How can a Democrat, financially dependent on union funding, even THINK that Communism is a viable option ? Oh, maybe because they think their union base is stupid ? What an insult to the unions.
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South Philly Boy
Dec. 11, 2012 at 10:00amIt’s Easy for him to say it works because it Works for GE… Enough said
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AntonW
Dec. 11, 2012 at 9:59amWhen I hear idiotic statements like the one Jeffrey Immelt made about communism working for China, I just have to say: https://www.youtube.com/watch?v=5Lmjidtj1_k
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jessieH
Dec. 11, 2012 at 9:59amThis is the future of union workers. Communism. Think those union bosses care about you? Better look a little closer.
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Frederick_Douglass_Republican
Dec. 11, 2012 at 9:59amI just noticed he was being interviewed by Charlie Rose. Another pathetic pretentious communist
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DZ-015
Dec. 11, 2012 at 9:57amImmelt is just a wannabe Big Brother. Of course he admires the Chinese dictatorship. In his youth he probably admired the Wicked Witch of the West in “The Wizard of Oz”. Immelting…………….
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Frederick_Douglass_Republican
Dec. 11, 2012 at 9:57amI buy NOTHING made by G.E.. No GE lightbulbs, washing machines or electronics. If I go to the hospital and the Cat Scan machine, Xray machine, patient monitor is made by G.E. I tell them either find another machine to use with me or I go to a different hospital. Ever since Jeffy got in bed with The Messiah I have been unwilling to do any business with that company.
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cloudsofwar
Dec. 11, 2012 at 9:57amis there any doubt that obama and his people are commies? is there?
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