The U.S. government will become the majority stockholder in General Motors after completion of the bankruptcy filing. The pie chart above shows what will then be the percentage of American companies owned by the United States (0.05%, in yellow), compared to the percentage not owned by the United States (99.95%, in blue).
The discussion thread at the link will be way better than any comments here.
Credit to Conor Clarke, writing in the Atlantic's business channel. Via Yglesias.
Hmmm...You're right. We stand corrected. Barack Obama is not a socialist. He's a fascist. Socialists want the government to run industry. Fascists want private enterprise to run industry, but have the power to tell it what to do.
ReplyDeleteWow, Anonymous, you just completely blew away the point of the chart. </sarcasm>
ReplyDelete0.05% is 0.05% TOO MUCH!!!!
ReplyDeleteIf only we had a system that allowed bad companies to fail and good companies to prosper.
What a sad, sad day, when you consider that government spending of GDP is already 45.3%.