U.S. takes 10% stake in Intel as Trump flexes more power over big business
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Further, he killed all trust in Intel. Now, no one will believe that there are no government back doors into everything they make.
There's literally Intel Management Engine or how is it called.
And they are literally an American corporation that has always benefited from American governments pressuring competitors from other countries, and that was important for MIC since 70s.
So that kind of trust was a clear no since long before I was born.
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10% is not "nationalized". It's "19.99% nationalized". Need to have a majority stake (like 50.01%) to call it "nationalized".
Or maybe I'm wrong.
By your maths it's 10/50.01=19.99% nationalised, actually.
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Yup. They also rewrote national broadband funding criteria so starlink would win most of the state contracts for funding. If the states are stupid enough to take it, the Elon Musk will own their citizens internet. Colorado just announced Starlink won half of all the contracts and Amazon the other half(I didn't even know Amazon provided Internet holy terrifying):
You may experience difficulty connecting to some web domains and your homepage has been preselected for you. Your monthly history will be reviewed and unpatriotic web usage will result in detainment or deportation.
Congratulations on your Freedom!
B-b-but Starlink doesn't build infrastructure for normal broadband, does it? So they basically got a load of free money for doing nothing on a state level, just their satellites flying someplace above? I mean, there are Starlink ground stations, so there is infrastructure, just how many people would use it instead of a normal service. You know, GPON to the door, no antenna suffering in bad weather, no exorbitant prices.
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Yes. It is.
Excalty like China.
China's internal market is far more cutthroat and "capitalist" than that of the USA. And less regulated. And less monopolized, except for a few services which, ahem, are mandated (WeeChat, yes).
That was their "unique path", to move all hierarchical stuff into political entities. It look interesting on a large scale, from more "peasant-oriented" communism, kinda changing the initial Marxist picture of worker-capital relations, to this.
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The way This Guy capitalizes Random Words drives me INSANE.
If you wanna be president of the United States, you should at least learn the language.
Isn't he mimicking the typography of oldish "wild west style" newspapers and other print? Both with different fonts, and varying capitalization, and sizes. Yelling at you from monochrome photos.
(Never been in the USA.)
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Could you imagine how many times the word "socialism" would be blasted on Fox News if Biden did this?
It wouldn't, they are one big criminal family after all.
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A ten percent stake in the company and suddenly those concerning Chinese ties Trump mentioned aren’t a thing.
That part of his behavior his fans, I think, approve of.
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Functionally, there's no such thing. In a system that gives the most power to the company that makes the most money, that company will seek to maximize its profits. Part of maximizing profits is eliminating competition. So in a "free" market, the most successful will subvert the freedom of their competition thus eliminating the freedom in the market.
Self-correction in a market is an illusion crafted people either desperate to salvage a broken system, or those who seek to exploit them.
That's why free market is how we call a market where anti-monopoly laws exist, work and are enforced in full.
While what you are talking about isn't called market, it's called jungle.
Self-correction in a market is an illusion crafted people either desperate to salvage a broken system, or those who seek to exploit them.
Self-correction exists when anti-monopoly laws exist, work and are enforced in full. It doesn't exist when they don't, because self-correction relies upon competition providing a choice and the consumer using it.
Also trade unions and customer associations are part of what we call free market. Both are voluntary, in public interest, and work when they exist. No coercion involved, thus no violation of market laws.
Also on large enough scale of the market and small enough scale of all businesses it may sometimes seem, that anti-monopoly laws are not needed. Especially since when anti-monopoly laws work, the market appears such.
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This is Small Government!
... Dick ...
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Us Treasury is providing capital... Hardly seizing anything.
Maybe if intel was ran into the ground by idiots. They wouldn't need to be bailed out by feds.
They were already providing capital without the seizure. So yeah, this is seizing.
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As far as government bail outs go, I think taking a portion of the company in exchange is an excellent idea. THIS orange asshole is doing it for all the wrong reasons, and will VERY likely fuck up literally everything about it, but the idea is sound.
I wonder what things would look like today if the government had taken some portion of control over all the auto manufacturers, airlines, banks, etc it has bailed out over the years instead of just giving them unsecured loans
I wonder what things would look like today if the government had taken some portion of control over all the auto manufacturers, airlines, banks, etc it has bailed out over the years instead of just giving them unsecured loans
Would look like normal capitalism of the early XIX century, give or take. Bad, but not atrocious. Bailouts definitely wouldn't be abused as much, because, eh, they wouldn't be free.
And the old argument that public sector management is inefficient - well, it's not always a bad thing. It would then make sense for the government to re-privatize some of those shares, and use others for a source of income and a lever. And the companies bailed out this way would sink in power (which is good for competition), but not completely (which is good for their employees and economical stability). And, of course, I'll repeat about source of income. Perhaps there will be no more raising taxes with such a system in place. Perhaps even some taxes it'll be possible to simplify - any complex tax system works in favor of those who can afford to apply expertise, so those richer, and not poorer.
Also partial or full nationalization may sometimes work to good outcomes, while nationalized companies are less efficient, they also tend to retain institutional knowledge better, have more people working long on the same positions, follow labor regulations. For the telephone company or the train company or the central heating company or the public bus company it makes sense to be nationalized.
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By your maths it's 10/50.01=19.99% nationalised, actually.
Yes, I've already fixed myself, it was sad
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The same way SEC stops market markers from manipulating the stocks
so they wont?
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It wouldn't, they are one big criminal family after all.
You're as bad as centrists/swing voters
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10% is not "nationalized". It's "19.99% nationalized". Need to have a majority stake (like 50.01%) to call it "nationalized".
Or maybe I'm wrong.
10% is a controlling share. The government (Trump) owns enough to make major decisions about how the company is run.
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Trump tweet:
It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.
i just got an amd card in response
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Trump tweet:
It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.
Years of failed management rewarded with government bailout.
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Trump tweet:
It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.
Why does he always close with "Thank you for your attention to this matter"? Does he think he's got his big boy pants on or something?
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you raise interesting questions. how do you stop some asshole president from using infinite taxpayer money to manipulate the price of a stock?
I don't know if you've noticed, but they already do that with zero government money.
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Trump tweet:
It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.
so, AMD for me from now on then.
