Glenn has a storied history with General Electric CEO Jeffrey Immelt, having been his neighbor when Glenn lived in New York City. Is it any surprise that Glenn moved to Texas when he had a neighbor like this guy? The man who serves as a the Chairperson of President Obama’s Council on Jobs and Competitiveness recently claimed that state-run communism was what got things done!
On Monday morning, Immelt appeared on CBS to discuss China’s growth rate with Charlie Rose.
“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.”
“It works because they get things done. Because they’ve got somebody dictating how things are happen. This is not how our country is supposed to work,” Pat said.
“The people like Jeffrey Immelt were fans of Mussolini and most of them at the beginning of Hitler,” Glenn said. “Of course Communism works for them because they’re in with the power structure. But if you’re not in the power structure it ain’t going to work for you, jack. Because it works because there’s somebody dictating what has to happen.”
“Common sense had better kick in on the lower end. It better kick in on the college age or we are – I mean I can’t believe it. They have done such an effective job that the people in power, the man, the people like GE, the people in Congress, the people in the White House, they’re actually siding with the man. That’s how effective their brainwashing has been on youth. The youth always rebel against the people in power,” Glenn said. “It’s incredible. The world is upside down.”
Watch Immelt’s comments below: