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Posted on 08/26/2025 6:23:11 AM PDT by DIRTYSECRET
Conservatives are up in arms about Trump's decision to have the government buy a stake in Intel. Classic, textbook socialism.
Trump sees the Intel deal as a first step toward creating an American "sovereign wealth fund," with many more investments to follow.
This is about keeping America competitive with Communist China, which controls the world's second and third largest sovereign wealth funds.
Traditionally, countries rich in national resources, particularly oil, have used sovereign wealth funds to diversify and grow their economies.
(Excerpt) Read more at realclearpolitics.com ...
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These are non voting shares. There is no finger sticking involved.
W wanted 2% of out SSI to go into the market.
International airlines are owned by their governments. Why can’t we do the same.
On the other hand it may be why the US is so special. Special enough to make you sink or swim on your own.
Actually this action is far from the classic definition of liberal fascism as well. The only one of the classic economic hallmarks of fascism that Trump embraces is autarky and only to the extent of domestic resilience for survival in time of war or black swan event.
Key characteristics of a fascist economy:
Dirigisme:
The state plays a dominant, directive role in the economy through various interventions, including setting prices, production levels, wages, and working conditions.
Autarky:
A central goal is national economic self-sufficiency, achieved through protectionist policies that limit imports and encourage domestic production.
Corporatism:
The economic and social life of the nation is organized into state-controlled “corporations” or cartels, which are organized by trade and industry rather than geography.
Blend of Capitalism and State Control:
While private property and individual profit are allowed, their pursuit is subordinate to the national interest and heavily regulated by the state.
State Intervention:
The government exerts pervasive control, requiring permits for economic activities and often taking private excess income through taxes or enforced loans.
Incompatibility with Liberalism:
Fascist economics is inherently opposed to the free trade, international cooperation, and open markets that are hallmarks of economic liberalism.
Those money pits are thanks to politicians that have probably received their rewards, as designed.
I think airlines can sink or swim but no one tenet is applicable to all aspects of society.
The CHIPS act, whether you approve of it or not, was an investment in technological advances in the chip industry and also to insure America’s role as a leader.
We invest in science in many ways, some have been foolish, some corrupt. Awarding some of the CHIP money to the US firm, Intel, was a decision already made. You can doubt that decision but do not conflate it with a rescue other than by supporting the CHIP industry in USA which was what the act was designed to do.
I assume you're joking about this. How can it be corrupt if the contract is awarded based on "pragmatic" government policy instead of bribes paid to individuals?
Anyone who thinks this kind of arrangement is a good idea should ask yourselves if you'd be comfortable with a similar arrangement involving: (1) a Democratic president, and (2) a company like Pfizer instead of Intel.
Dig you guys. Lotta intellectual disagreements here-that’s good.
Watch my next post coming right up.
Laughable argument. The iPhone never would have been invented and we'd still be using Lotus software. Fedgov ownership stakes in private companies creates a whole new avenue for the worst sort of lobbying from entrenched interests that would kill competitive innovation.
If the product was considered strategic and critical to National Security and an emergency, maybe like another one of those Wuhan Coup Flu events, they’d probably use the Defense Production Act with Pfizer.
But maybe when we get around to the investigation of the Wuhan Coup Flu, Pfizer may be in big trouble.
We’re still at the ‘They spied on my campaign ‘ phase and the ‘Russia Russia Russia hoax’ phase.
Wuhan Coup Flu and folks like Pfizer is in the future.
Government contracts are subject to review. There are factors other than $ such as quality, dependability or on time performance. If there were a Government directive to buy from Intel rather than an equivalent vendor there would have to be justification or the awarder would be subject to review and discipline.
Government contracts are a very dirty business, as I well know. GVT pays through the nose because of ridiculous requirements of paperwork and regulations on materials used. Some of the regulations are impossible since specified materials by Country, and age do not exist. A network of procuring companies exist and they double or triple the pricing while certifying that the regulations are met, though the actual manufacturer will not and cannot so certify and for doing the paperwork.
If you are concerned about Intel becoming a monopoly for the Government supply of chips it seems far fetched. The industry is specialized and where a specific chip is being used that will be maintained unless an improved chip is offered. If the GVT needs a special use chip they will work with a vendor to develop it & buy from that vendor.
And political considerations. And lobbying pressure.
I have a three-letter acronym for you: TSA.
Does this seem a little naive?
The worst kind of lobbying is already being done. That is why we are in the mess we are in.
A company offering stock for money it has already been awarded in a grant is a step towards accountability not a slippery slope. The situation of having an astute businessman in charge is unique. Trump might start a new expectation that the GVT may make grants if it deems them in the National interest but if it does the business should spin back some of the profit. Quite a change from the trillions given out in support of flawed ideologies to businesses that failed or weren’t even going concerns when grants were given.
That is certainly an analogical reach. TSA was created by the GVT to safeguard America at airports. It is an expensive DEI ridden failure controlled by bureaucracy. It should be ended. There is no similarity to a private company receiving a grant. There is not even an analogy to a Government preferred vendor.
We need a thorough shakeup of Government procurement since some of the traditional suppliers have gotten bloated, inefficient, produce defective supplies and are in many cases infiltrated by foereign interests. But that is a different issue.
Just because money has been allocated, does not mean that it isn't "good money after bad." Trump has clawed back such grants before. This award is at his discretion.
I will admit that influence will happen from outside, but if we require native key technology or capability, rather than fund a bunch of research facilities and call them “government” facilities, why not have non-government entities on the stock market perform the work and help ensure it stays local, instead?
Government either gives unsecured loans, grants, tax abatements, guaranteed contracts for vaporware, etc. or it gets stock with value in return.
If not voting, then what is the actual problem?
I respect your opinion w/o sharing it. I do not think Congress would claw back CHIP act awards in any case and POTUS cannot unilaterally do so nor would he want to since he sees that industry as vital for America’s future..
I don’t see any discretion here. Perhaps I am missing it.
“The government’s equity stake will be funded by the remaining $5.7 billion in grants previously awarded, but not yet paid, to Intel under the U.S. CHIPS and Science Act and $3.2 billion awarded to the company as part of the Secure Enclave program.”
Thank you...that little fact keeps getting left out...Intel got $$ from govt under Biden...but no way for govt to recoup anything...this looks to be a way to do that. Right?
I was in manufacturing for 12 years, both high technology (microwave) and a devising machinery to make new products in a medical chemical plant running 24-7. I was bitching about what outsourcing was doing in the early 90s as driven by corrupt environmental regulations. I do understand the vital nature of semiconductor manufacturing, and the necessity to sustain those businesses so affiliated. Yet I am concerned that this vital capability is being misdirected and would be better served as allocated to producing BOTH a yet more advanced product line and the "jelly beans" upon which other industries (such as automotive) rely. This move is locking it all into place.
Hence, I have great trepidation about the whizdumb of both Wall and K Streets, as both have betrayed the American worker to cash in on the product of everything from lab techs to plant electricians. I just don't see the kind of vision and knowledge necessary to make such allocations of precious capital in government either.
In the mean time, my focus is upon developing the rationale for a completely novel industry.
Tariffs are a tax. Thomas so well, Milton Friedman, Hayek,etc.
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