The ignorant statement of the day comes from Jeff Immelt, chairman of GE, here:
"The one thing that actually works, state run communism a bit– may not be your cup of tea, but their [Chinese] government works."
Communism is nothing if not "state-run", as in, run by the Communist Party. As it stands, the statement is meaningless.
Actually China's Communist Party practices a form of state capitalism, just like we do, which in the good old days was called fascism. And it only works until it doesn't, at the price of human repression, which goes unreported in the west. You know, like how many abortions were performed this week in Peoria or Shanghai. Still, I don't see a lot of people flocking to China. I see Chinese who have gotten rich trying to get out.
And whereas we build things that actually get used, using fiat currency, China builds things using fiat currency which don't get used, including massive numbers of buildings and highways. Of course, the grandmothers of Bolshevism in our country do the same thing as the Chinese. They build massive numbers of churches which are for the most part vacant all week.
You say socialism, I say national socialism, but let's call the whole thing off.
