Jeff Immelt Is Totally Clueless

Paul Krugman

Photo: Dave Shankbone via Flickr

Oh, my. Jeff Immelt, who President Obama for some reason appointed to head his job creation panel, insists that what’s good for GE is good for America:

I want you to root for me. Look, every one in Germany roots for Siemens, everyone in Japan roots for Toshiba, everyone in China roots for China South Rail, I want you to say, win GE.

I think this notion that it’s the population of the US against big companies is just wrong.
Wow. First, the macro picture. Here are corporate profits versus employee compensation, both measured as index numbers with the 2001 business cycle peak= 100:Read the rest of this post at The New York Times.

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