No Conflict of Interest Here. Move along!

Today General Electric CEO Jeff Immelt is warning that the U.S. could descend into a depression unless government takes strong action to resolve the liquidity crisis.

He contended that governments were "firing as many bullets" as they could to stimulate economic growth and stabilise the credit markets. Those measures, he said, should begin to take hold by early next year.

"Governments are all in," he said. "And in my view, government always wins."

I'll bet that's his view. For in other news, it has been announced that the CEO of General Electric will be named today as a member of President Obama's Independent Economic Advisory Council,

a board of independent experts to give him advice on economic issues.

GE, owner of NBC and MSNBC and general cheerleader for its extensive line of wind turbines and other "green" technology devices, has invested heavily in both credibility and cash in the Obama presidency.

So while The One hammers the need for quick action on the stimulus bill, his ally Immelt ratchets up the fear factor as a supposedly "independent" expert.

With GE in on the scam, we will need torches to go with the pitchforks.