Fox Business host fears capitalism is in trouble because Americans will see companies "posting record earnings and ... firing people"

Fox Business host fears capitalism is in trouble because Americans will see companies "posting record earnings and ... firing people"

Charles Payne on GM firings and plant closures: "The American public is going to get hip to this and my fear is that they're going to end up electing, not a democratic socialist, just a straight-up socialist"

Video ››› ››› MEDIA MATTERS STAFF

From the November 27 edition of Fox News' America's Newsroom

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CHARLES PAYNE (FOX BUSINESS HOST): And again, it's not like they're in dire straits. Now, they're trying to get ahead of things, they want a big fat cash flow. But this is why, I think, capitalism in and of itself is in a lot of trouble in this country. Because, you know, these companies keep posting record earnings and they keep firing people. They keep posting record earnings and they buying back billions of dollars of their own stock. The American public is going to get hip to this and my fear is that they're going to end up electing, not a democratic socialist, just a straight-up socialist because of these kind of shenanigans. They should have saw this coming a long time ago. 

Related

G.M. to Idle Plants and Cut Thousands of Jobs as Sales Slow

Previously:

Fox News downplays mass layoffs at GM: "Listen, it's not a bad thing"

Fox Business host baffled by rising federal budget deficit after massive GOP tax cuts for the rich

Trump's tariffs could hurt millions of Americans, but media focus instead on presidential drama

Posted In
Economy
Network/Outlet
Fox News Channel
Person
Charles Payne
Show/Publication
America's Newsroom
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