Among the “bailouts” the one for which the Obama administration is happy to take credit is the GM bailout. Forget that it turned a century of bankruptcy law on its head and flagrantly favored unions over bondholders. Forget the hundreds of dealerships that were forced out of business. Forget that $80 billion of your hard earned money was used to prop up the enterprise. Obama touts the fact that “Osama bin Laden is dead and GM is alive” at every campaign event. However, is GM “alive” for Americans or Chinese? Well, in fairness, he borrowed the $80 billion from China. Keep a wastebasket nearby. You are about to lose your dinner.
Also, keep your eye on Waukesha, Wisconsin. Their biggest employer is moving out. General Electric is planning to move its 115-year-old X-ray division from Wisconsin to (drum roll, please – you guessed it!) Beijing. In addition to moving the plant, the company will invest $2 billion in China and train more than 65 engineers and create six research centers.
This is the same GE that made $5.1 billion in the United States last year, but paid no taxes – the same company that employs more people overseas than it does in the United States. Nice. President Obama appointed GE Chairman Jeff Immelt to head his commission on job creation (job czar). Immelt is supposed to help create jobs. I guess the President forgot to let him know that he was to create the jobs in our country.
Thanks to JP and JM for putting me on to these stories.
Roy Filly
The Rugged Individualist 
This, of course, is very disturbing. GM, thanks to my father’s job there, put me through college, fed me for years and provided a pension and medical care for both my parents until the day they died.
I’m not sure if I should be angry with GM. Corporations, of course, usually put their survival ahead of “impractical” things like freedom or the survival of nations. The other side of the story is that a communist dictatorship provides an better business environment than the USA does, at least until your competitor one-ups you on the bribe.
A book was written in the mid-20th century that detailed how it was US foreign policy and US corporations and industrialists such as Armand Hammer that, for a half century, kept the USSR from collapsing. I forget the name of that book but I’ll try to remember. We are seeing a repeat of the process with what may be a far more dangerous adversary.
All good points. I grew up in the Great Lakes area. Many in my family worked for steel companies. I still remember the saying “as goes US Steel, so goes the country.” Well US Steel fell from the largest company in the world to a company unknown to Americans under the age of 40 (they don’t even know that the Pittsburg Steelers logo was the logo of US Steel). Maybe the saying was correct.
Roy Filly
I’ll just weigh in here with some important indicators I came across in a recent Heritage Foundation article. Much of this is derived from that article. I would ask that each of you stop and ask yourself – again – who is this man – Barack Obama?
Much of who he is can be easily gleaned from his book “Dreams From My Father.” His father was a radical Communist ideologue who actually ascended to a high position in the Kenyan government and helped orchestrate the transition of their fledgling government to communism.
In his book, Obama excused his temporary need to actually make money from the “private-sector” when he was younger and just out of college. This while seeking his “dream job” as a community organizer. I quote; “I would need that money later, I told myself. Organizers don’t make any money; their poverty is proof of their integrity. I would sneak in quietly, like an spy behind enemy lines.”
This man doesn’t make gaffes, (“the private sector is doing fine”). He always speaks to HIS truth and occasionally expresses it, off the cuff, as he really believes it. I hope we are able to interrupt his destiny in November or I fear for the destiny of our country.
Very interesting.
Roy Filly
I get the distinct impression that the man-child and his cronies are trying to set china up as the new world super power, don’t you?
Absolutely.
I have the same feeling. What bothers me more is China’s standing army of troops now measures at over 300 million foot soldiers. And with them not only:
– holding notes of our debt at about 1.7 Trillion $$$,
– buying up key real estate, water ways and roads,
– along with our inability to make payments,
… we can’t expect nothing to happen.
ADDITIONALLY – Given the fact that: “Eugenics continues in the USA today”
http://www.constitutionalvoices.org/bloggers/freedomblogger2/?cat=7
And – America has been Hacked & Hijacked.
……. 7 issues achieve cumulative effect.
……. Summary & Solutions
http://www.constitutionalvoices.org/bloggers/freedomblogger2/?cat=3
And – “The United States is NOT a Country! – It’s a Corporation”
http://www.constitutionalvoices.org/bloggers/freedomblogger2/?cat=15
I see nothing but pain in our future unless we can educate people like CSPOA.org – OathKeepers.org (& Our Military to stand up with them) to demand the “ILLEGAL” government from trampling our constitutional rights & stop the tyrannical manipulations by those currently running our government. If we can’t accomplish this? we are looking at the last days of our “Republic” forced by those whom forget their oaths and seek to serve themselves above “We the People”.
The reality is big corporations are in bed with big government and both are more interested in ensuring power and wealth for those on top than providing anything worthwhile for the American people. Another reality is Obama despises everything about America and the only thing he has accomplished is to reward the people like him-corrupt, liars, Socialists, Communists, anti-capitalists, and anti-America propagandists. Obama is a globalist hoping for global Socialism first and then global Communism so it’s no surprise he favors China over the U.S.
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Great video – I wish some super pac could run this regularly on evening TV.
And all of this in plain sight mind you. Ackerson needs to be embarrassed by this.