19 September 2011 0 Comments

General Electric’s Jeffrey Immelt’s Open Advocacy of European Social Democratic Welfare State & Government Central Planning – Export-Import Bank

General Electric’s Jeffrey Immelt – Corporate Collectivist – the German Social Democratic Welfare State Model is the model for the US. France, Japan and China are admirable models for Jeffrey Immelt, an American businessman. In my view, State Power and Business Wealth are a lethal combination, a Leviathan of money and power, is not good for the economy or individual freedom.

Immelt was at the Export-Import Bank’s conference rallying the troops behind Obama’s National Export Initiative, aimed at doubling U.S. exports in five years. Immelt praised Germany and Japan’s policies of “government and business working as a pack.”

The GE CEO lamented that “for so long, we’ve said, ‘It just doesn’t matter. Let whatever happens happen.’ ”

But in Germany, Immelt pointed out, Chancellor Angela Merkel huddles with corporate leaders and says, “Let’s kick some rear.” The Germans exhibit stronger “public will” and national “vision,” Immelt says. “The companies roam as a pack. They stick together. And the government supports the companies to be exporters.”

France and Japan are also better at economic team play. And Immelt flashed an envious smile when he said, “China pays all the bills.” “What you see in China,” Immelt added, “is an incredible unanimity of purpose from top to bottom.”

It’s not hard to translate Immelt, who is much blunter than the president. The economics Immelt derides — “let whatever happens happen” — is also known as the free enterprise system. The economics Immelt advocates — “government and business working as a pack” — is also known as corporate socialism, or corporatism.

President Obama is too savvy, and much too scripted, to use the same words as Immelt. But he has the same vision.



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