Posted on 04/12/2025 1:54:53 AM PDT by RandFan
There is a better option between nationalization and globalization. That is private ownership of much by national citizens. You seem to see national socialism as the answer.
But your perspective and cautionary tale fits with why I’m not comfortable with Trump’s focus on bringing international companies here to hire locals. I’d rather have indigenous industry.
I am also, consistent with your take, very nervous about the billionaire branch of Team Trump getting ready to sell and buy big swaths of our national land and natural assets in the name of paying down the debt that they keep racking up.
Thatcher set it up that way. “If you see Sid, tell him” was a massive media campaign for the privatisation of gas. Idea was, the working and middle classes would buy shares.
But what happened over time was, the big corporates took the lion’s share and sold to each other.
So what you say is a preferred option doesn’t actually work without something else.
Unless there are stringent safeguards like we in the UK have for mutual building societies to prevent them being horsetraded in international banking, the little guy always gets squeezed out by the international investers.
I don’t bank with banks. Only with UK mutuals. Abbey National was a UK building society, decided to become a bank in 2004, then got sold to Banco Santander, and now it’s as British as paella.
You’re from the UK. You’ve a long history of Fabian socialism—and you sound like a Fabian socialist here.
Out of curiosity, what are you doing at FR?
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