Free Republic

Fox Business’s Larry Kudlow expressed concern on Friday over the Trump administration’s move to take a 10 percent stake in mega chipmaker Intel. “I am very, very uncomfortable with that idea. I’m very uncomfortable with that one, but that’s a conversation for another meal on another day,” Kudlow told economist Stephen Moore, in an interview highlighted by Mediate. Moore himself, a Trump economic adviser, earlier in the appearance, also criticized the administration’s decision, calling it “terrible.” “I hate corporate welfare. That’s privatization in reverse. We want the government to divest of assets, not buy assets. So terrible, one of the...

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.