Immelt: Deregulation "unlocks productivity and speed"; "we should be executing" deficit report

[somone]

http://www.ft.com/cms/s/a622a1a4-256c-11e0-93ae-00144feab49a.html

Transcript: Immelt talks to the FT

President Obama’s deregulation initiative

“It’s a very good, very strong way to think about it... This can unlock lots of productivity and speed, without back-stepping in terms of any of the important protections that these industries have. I think the president is right on on that one.”

The deficit

“I thought the deficit commission did a great job. I read the deficit commission report – I actually read it over the holidays – it’s a pretty good framework on which we should be executing.”

Globalisation and free trade

“I think we all have to worry about the lack of love, let’s say, for globalisation today. And everybody has a role to do better... You can’t be good at exports without globalisation and free trade; if we can get the Korean free trade agreement signed, and maybe Colombia and some of the other ones that are in the queue, I think step by step by step this all gets better.”...

[rfranklin]

1. Better for who, Jeffrey?

If we should start executing something, how about.....?

[moondust]

2. This guy has no place in government.

None whatsoever.

Somebody needs to find out how many jobs he moved offshore while at GE. I suspect he has the same problem as Carly Fiorina.

[WinkyDink]

3. He wants U.S. workers to earn "global" wages.

[OHdem10]

4. It is also good to understand Immelt has said we must RESTORE

OUR MFG BASE back to a level where Mfg is at least 13 to 15 percent
of GDP. He has said this economy cannot be sustained as
a Service Economy. Trying to make this a Service Economy
was a mistake. He also committed to creating American Jobs
as he feels he has to outsource certain jobs.


I prefer someone like Immelt who sees the mistakes is willing
to admit to them and then try to make changes.

We will not find a perfect person. There are none. Even
small businesses export good and when expanding sometimes
out source.

[meegbear]

5. It's so nice multi-millionaires are able to make the hard choices so others can make sacrifices ...

instead of them.

[subterranean]

6. Higher productivity = more profits for Wall Street, bigger bonuses for CEO

and belt-tightening for ordinary workers.

[whattheidonot]

7. nail in the coffin. change we can believe in.

One more nail in the coffin. Any doubts about Obama true leanings should be dispelled

[booley]

8. and Yet US productivity has been stagnant for decades

We keep doing more and more de-regulation since reagan and yet our productivity doesn't seem to have increased except for crazy economic bubbles. (the same way meth will probably give you more energy to do house and charity work but that's probably not what meth users are actually doing while using)

So how many more decades do we need to have of this idea not working before we can say that this idea doesn't seem to work?

[blindpig]

9. Plenty room in the tumbril....

[gratuitous]

10. What Deficit Commission Report?

There was none; they blew their deadline, and any recommendations didn't have the necessary endorsement of its members. It would appear that those rules are being jettisoned. I suppose that anyone who notices that can be dismissed as some nit-picker who is Not Serious About Deficit Reduction.

Who could have predicted this? Besides me, I mean.

[Vinnie From Indy]

11. Immelt is clearly talking about his class when he offers...

“I think we all have to worry about the lack of love, let’s say, for globalisation today. And everybody has a role to do better... You can’t be good at exports without globalisation and free trade; if we can get the Korean free trade agreement signed, and maybe Colombia and some of the other ones that are in the queue, I think step by step by step this all gets better.”...


For the vast majority of Americans it will mean more lost jobs and shattered lives.