Yes but contrary to China, USA doesn’t use government subsidies to promote their own industries, or state owned companies to spy on the rest of the world. 🤪
I hope Intel survives because a Chinese (mainland+Taiwan) monopoly will not be good, but I am so sick of American disinformation regarding China.
Cool, now do Duke Energy. And Exelon. And Entergy. Etc. (Not that I trust this admin ofc, but if you want collective ownership…)
Didn’t the US do a similar thing to save our auto industry? Buying in? I’m hazy on the details, been a minute, but didn’t we cash out and profit?
Not saying this is the end game here, but still?
According to a May 2011 report by the White House National Economic Council, however, the US government may have to write off about $14 billion of its $80 billion loan.
Fascism is a far-right, ultranationalist, and authoritarian political ideology that emerged in early 20th-century Europe, characterized by a totalitarian, one-party state, a charismatic leader, a fixation on national decline, and the suppression of individual rights and opposition groups. It combines elements of militarism, economic self-sufficiency, and mass mobilization, often through propaganda and violence, to achieve a vision of national purity and power.
Release the Trump/Epstein files
Seems like the government owning private industry might stray into the socialism thing thy hate. Why not do this with something more important like healthcare? Republicans are hypocrites.
Or the rental market…
Because healthcare would help you
It’s only socialism when democrats do it.
If you ask, they’ll tell you it’s different for ‘essential services’. It’s the same excuse they use for the farm handouts.
Healthcare could help, that’s good socialism. Intel is profits and power and control for the sake of it. That’s bad socialism.
That way when things fuck up they can point and go SEE SEE IT DOESNT WORK! WE TRIED IT AND IT MADE THINGS WORSE!!
and if it somehow does manage to help or improve things they can now claim they did something smart and take all the credit.
Yeah, but then poor people would use it.
So uh, Intel doesn’t get anything, and gives up 10% of their stock because they’ve just decided to retroactively alter the CHIPs act?
No, not at all. The government bought shares in Intel. When you have shares in a company you own part of the company.
Just to clarify and add to what you said, equity shares are not stocks. The gov gets dividends and such, but it isn’t stock that is bought and sold on wall street. It’s all about profitability and not about speculation. If the company makes money, so does the gov. If it loses money, the gov loses money.
If tax payers are going to be investing into these businesses and they’re avoiding taxes taking a share of the company is better than nothing.
I mean, it’s socialism, but don’t tell their voters
🤫
Uhhh, so much for the free market Republicans spent decades championing
They’ll run it into the ground regardless.
Well, yeah, they always do. Republican admins always leave the economy in the shitter and saddle the nation up with debt so that the incoming Democratic admin has to spend all of their time bringing the economy back up to speed rather than implementing effective reform.
Funny, when Europe does this, it’s called “socialism”.
Yes and no. In this context, it’s more of a shakedown-sorta thing.
Yes, but it’s not socialism we’re seeing. It’s fascism. Fascism also has state control of private industry. For a different purpose.
Can you imagine the screams of, “COMMUNISM!!!” If Obama or Biden had done this. It’s all we would hear about for an entire election cycle. Fox “News” would play it nonstop.
Didn’t Obama do it for GM and a bunch of other companies as part of a bailout package for a period of time?
So did Bush. It’s only bad when their enemies do it. It’s righteous and just when they do it.
So if I’m reading that right they set for $700 billion worth of purchase during the Bush admin, it got reduced to 426.4 billion by 2014 and they claimed they made $15.3 billion. It sounds like they made a 3.5% gain on their investment total. A win! Yay… Only if you ignore the fact that if that money went in from 2009-2024, the money averages out on inflation to have been worth 481.29 billion. A loss of $12.15 billion dollars if they would have done anything else with it.
Overall I wouldn’t be mad that they wasted that money if they had focused on structuring the company moving forward in a manner that wouldn’t end up supporting a wealth divide moving forward. The CEO “only” had a salary of $2.1 million in 2024. Which actually sounds mildly alright. Yet her take home was $29.5 million when they got done throwing stocks and bonuses at her. That’s after GM stock started 2024 at $55.50… and ended the year at $35.64.
So the company lost ~36% of its “worth” and she got more than 13x her salary in stock and bonuses.
Ah but a bailout package is different. That’s a display of powerful capitalism. A private company so powerful it can’t be allowed to fail and a government so strong it won’t allow it to fail.
It was Bush just before he left office.
And when China and Arab states do it, it’s something to aspire.
Wasn’t government cross-pollinating with industry a relevant component in 20th century definitions of fascism?
us taking a stake in a failing company sums up america
Remember we bailed out Harley Davidson. Twice.
Next healthcare?
And so the current Intel chipset I have will be the last I ever own.
I feel like that should’ve already been a given when the 13th and 14th gen Core processors permanently kneecap themselves if they feel like it. But that’s just me.
Me too.
AyyyyyyyyMD
