Obama Shills for General Electric in Indonesia

It’s that time of week when Barack Hussein Obama gives his weekly presidential address. This time from a country that shaped his formative years: Indonesia.

Today, I’m speaking to you from Indonesia as I finish up my trip to the Asia Pacific – the region where we do most of our trade and sell most of our exports. And over the past week, the progress we’ve made in opening markets and boosting exports here will help create more jobs and more growth in the United States.

Here in Indonesia, I was proud to join leaders from some of our nation’s top companies as they announced trade deals that will support nearly 130,000 American jobs and potentially increase U.S. exports by up to $39 billion. Boeing, for example, will sell more than 200 planes to Indonesia that are built with parts from suppliers in more than 40 states. And a deal to export GE engines will support jobs at plants in Ohio and North Carolina.

These agreements will help us reach my goal of doubling American exports by 2014 – a goal we’re on pace to meet. And they’re powerful examples of how we can rebuild an economy that’s focused on what our country has always done best – making and selling products all over the world that are stamped with three proud words: “Made In America.”

Notice how he pointed out North Carolina and Ohio. These are the two states that he desperately needs in the next general election. And isn’t it shameful that this guy has reduced the presidency to a lowly salesman and shill for General Electric.

If Obama really wanted to attract businesses and create jobs in the United States he would revamp the tax code and get rid of burdensome regulations by disbanding whole federal agencies that have been the bane to the prosperity of all Americans. And let’s not forget that monstrosity that is the signature of the Anointed Ones presidency: ObamaCare.

But none of that will happen, because it’s not in his DNA. No, we will have to wait until the next election when this man faces a shameful ass beating at the polls.

Source: http://www.whitehouse.gov/photos-and-video/video/2011/11/19/weekly-address-creating-economy-built-last#transcript

General Electric Whores Its Way to Fortune 500 Top 10

Fortune 500 Magazine listed its annual top rankings for American businesses.  General Electric came in at #6.  If you take a look at the top 10, you will see that 4 of those companies have something in common.

General Electric, probably one of the most shameless whores in the modern era, has made an art out of scamming the American taxpayer out of their hard earned money; when the federal government implemented TARP, G.E. was right there cashing in:

General Electric said Wednesday that the federal government had agreed to insure as much as $139 billion in debt for its lending subsidiary, GE Capital. This is the second time in a month that G.E. has turned to a federal program aimed at helping companies during the global credit crisis.

GE Capital is not a bank, but granting it access to a new program from the Federal Deposit Insurance Corporation may reassure investors and help the lender compete with banks that already have government-protected debt, a G.E. spokesman, Russell Wilkerson, told Bloomberg News

And when the Stimulus Program was announced, they were right there slobbering all over themselves:

GE was the primary recipient of 14 stimulus grants, a spokeswoman for Recovery.gov confirmed to CNSNews.com. These 14 grants provided GE with $24.9 million in tax dollars. On four additional stimulus grants, the primary recipient of the federal money hired GE as a contractor. Recovery.gov is the administration’s website that tracks stimulus expenditures.

And it was just recently revealed that with their army of tax accountants and lawyers, they didn’t pay a dime in taxes:

General Electric paid no tax at all in America last year and even managed to get a $3.2billion ‘rebate’ from the government.

The utilities giant allocated just 7.4 per cent of its $5.1billion U.S. profits in tax - around a third of what others companies its size are paying.

But through a complex series of measures GE, which is America's largest company, will not even have to hand that over.

It makes you want to go out and buy a General Electric product doesn’t it.



Read more: http://www.dailymail.co.uk/news/article-1370001/General-Electric-avoids-paying-tax-entirely-dodges-incentives.html#ixzz1LuId6VBC

Source:  http://money.cnn.com/magazines/fortune/fortune500/2011/full_list/index.html

http://dealbook.nytimes.com/2008/11/12/fdic-to-back-139-billion-in-ge-capital-debt/

http://www.cnsnews.com/news/article/obama-administration-gave-general-electr

MSNBC: Muslim is the New N-Word

Is it any wonder that MSNBC has no viewers? So they are trying to turn Dr. Laura into a pejorative?

General Electric must really need taxpayer money to allow this kind of crap to be aired.

H/T:  Weazel Zippers

General Electric: A History of Corporate Fascism

When Barack Obama and the democrats passed their monstrous stimulus bill; General Electric was right there trying to figure out how to fleece the taxpayer, according to an article by the Wall Street Journal:


“As the bill worked its way through Congress, GE lobbyists pressed for grants, tax cuts or rebates aimed at businesses GE is engaged in, including provisions worth more than $80 billion for energy projects, appliances, health-care information systems and wind farms. GE would have to compete with rivals for a share of these grants.


When the stimulus package was rolled out, Mr. Immelt instructed executives leading the company's major business units "to put together swat teams to get stimulus money, and [identify] who to fire if they don't get the money," says a person who heard him issue the instructions.”


In the early part of the twentieth century Mussolini’s Italy was the fashion of the day. Time magazine admirably wrote, “Possibly Italy’s Benito Mussolini will be the Man of the Year when his new Corporative State begins to show results.” Many in FDR’s administration admired the dictator.


General Electric president Gerard Swope had fascistic designs on American businesses when he proposed a plan in which trade associations would determine how much each company would produce and its price. G.E. chairman Owen Young stated that a government run economy would involve “the voluntary surrender of a certain amount of individual freedom by the majority and the ultimate coercion of the minority.”


President Hoover dismissed the plan as “the most gigantic proposal of monopoly ever made in history.”

When FDR defeated Hoover, he wasted no time implementing just such measures; it was called the National Industrial Recovery Act: NRA for short. This plan was a boon for big businesses. The federal government used the force of law to stymie smaller competitors, by forcing them to pay above market wages, and to sell their product and services at higher prices. Those who did not comply were fined and thrown into jail. Such laws benefited companies like General Electric. The NRA lasted two years before the United States Supreme Court found the law unconstitutional and was struck down.


Today General Electric is more powerful than ever. It owns networks such as NBC and MSNBC and uses this medium, in the guise of journalism, to propel its interest by attacking those who disagree with the leviathan.


Fox News exposed this journalistic malpractice:





It is time to stop corporate welfare, and laws that favor one company over another.

Source:

FDR's Folly by Jim Powell
New Deal Raw Deal by Burton Folsom, Jr.
http://online.wsj.com/article/SB125832961253649563.html