The US increasingly has a Marxist economy. In the latest move, the US Government now is the majority owner of General Motors!
GM could become leaner, government-owned company
DETROIT – General Motors, once the colossus of American capitalism, will become a leaner, government-owned company if the Obama administration goes along with the automaker’s plan to slash jobs, close plants and eliminate the legendary Pontiac brand.
As GM laid out the proposal Monday, new agreements fell into place between Chrysler and its unions in the United States and Canada, making it apparent that the future of both companies now rests with their creditors.
General Motors CEO Fritz Henderson said the company would offer the Treasury Department more than 50 percent of its stock to absolve GM of $10 billion in government loans.
So now the Government will decide what products to make and when to make them. This sounds like Marxism to me. This is definitely very Communistic. What irony Russia and China are the capitalist Pigs now! Thank you Comrade Obama.
