U.S. government takes 10% stake in Intel, as Trump expands control over private sector
U.S. government takes 10% stake in Intel, as Trump expands control over private sector
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.
It’s only socialism when democrats do it.
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.
Well, no. In this case it's probably Intel is collapsing I assume, and they're the only CPU producer native to the US. It'd be a really bad thing strategically to let them fail, so they should be nationalized.
Yeah, but then poor people would use it.
We’ve always had communism for the rich and cutthroat capitalism for the working class
Our healthcare system in the US is Socialism, only the government funds the corporations with subsidies, not paying outright for the citizens. It's a man in the middle system where they stick a middle finger up your ass to get money from you three times. With taxes, with insurance, and with actual medical care.
If you ask, they’ll tell you it’s different for ‘essential services’. It’s the same excuse they use for the farm handouts.
Because healthcare would help you
Or the rental market...
Uhhh, so much for the free market Republicans spent decades championing
They’ll run it into the ground regardless.
The market would be freer if it wasn’t dominated by a couple capitalist megacorpos. So nationalisation doesn’t mean less freedom, although neolib propaganda would love you to think so.
beat me to it
Wow. Throw 16M people off health care, then invest the 'savings' in corporations. HEy, Intel, how do you like your blood money?
Historical evidence would seem to suggest that Intel very much do like their blood money I would imagine they would like some more please.
government owning the means of production?
🤔
Not socialism.
There's a different word for that, unless you think the American government represents the working class.
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.
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.
This is why I don't like trump being called a nazi, a nazi was a nickname for the german fascist based on the name of the political party NSDAP, specifically the N part, National with the ti part being pronounced the same as the zi part in nazi.
Trump is an american fascist. When you call him a nazi it paints the picture of the ultra villified almost over the top hollywood nazi and it muddies the water and lets other fascist media pundits dismiss it over exaggeration.
Now after being pedantic I prefer these lists tlto check if you live in a fascist state
https://osbcontent.s3-eu-west-1.amazonaws.com/PC-00466.pdf
Spoiler alert: the US is under control of a fascist government.
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. 🤪
/S
I hope Intel survives because a Chinese (mainland+Taiwan) monopoly will not be good, but I am so sick of American disinformation regarding China. Always blaming China for things USA has been guilty of for decades before China.
Are you sure about that? US hardware is spying on the rest of the world for decades. Cisco is in no way better then huawei.
Well, now that they're doing it like China is, the rest of the world should use tariffs to mitigate this, like we do with Chinese EVs for an example (since those are so heavily subsidized to root out competition not just in China, but worldwide)
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.
small penis government 😤
AyyyyyyyyMD
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
🤫
Everyone calling this socialism is a moron
Care to elaborate?
Socialism is workers owning the means of production. Not the government. The government can be fucking anything and it (or the people controlling it) profiting from owning a company isn't socialism by itself.
It's fine and all to talk about a worker's government but is that what you would call a Trump presidency? The American government at any point in its history? Will literally ONE FUCKING DOLLAR of Intel profit go to a worker from this?
They're cutting social services and expanding the power of the surveillance state. Just think for one goddamn second about function instead of form, I'm begging you people.
Could call it national socialism.
Boycot Intel? Okay, you got it!
Already buying AMD. Nothing personal, AMD CPUs are just better, faster, more efficient and easier to upgrade.
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.
AFAIK the US government also made money off of the 2008 bailouts, at least I am sure they had to pay it back, but for some reason I think it lives in people's minds as it was like a one time gift of money to those banks and they didn't have to pay it back or anything.
Wasn't government cross-pollinating with industry a relevant component in 20th century definitions of fascism?
While I don't trust this administration in the slightest this isn't unprecidented:
Yeah, it's one of the smarter things the US government has done, especially considering the impact a bankruptcy would have on the economy.
The loss of intel, its facilities and staff, would be a pretty hard blow.
I personally don't think any of these big companies should be privately owned. Rare win for the pedo admin. Maybe we can get 10% of the epstein files next.
Better for intel than not receiving $8B at all. It can avoid spending it on Ohio plant without upsetting politicians if no one wants to use Ohio made chips. But its not as though telecom companies ever faced real consequences for pocketing "rural broadband subsidies".
The best part about this, is political campaigns surrounded on confiscatory nationalization of climate terrorists and zionazi first political party influence is normalized.
us taking a stake in a failing company sums up america
Remember we bailed out Harley Davidson. Twice.
Next healthcare?
Imagine bribing politicians to get tax breaks as those same politicians start to take more of a cut than the other side would have taxed you. I'm starting to think everyone that is rich and powerful are also incredibly stupid.
Cool, now do Duke Energy. And Exelon. And Entergy. Etc. (Not that I trust this admin ofc, but if you want collective ownership...)
Reminds me of the Dictator/Couper Park Chung Hee in South Korea. At the time government subsidies propped up South Koreas economy. But Park was directly commanding military before, in difference to Trump.
OpenAI next. You don't want AI but you will pay for it in taxes.
isnt intel kinda dying with the latest fiasco with thier chips.
Funny thing is, their GPU division is making fine products especially in the bang-for-buck consumer category and their Wi-Fi modules are good. Weirdly enough, because driver and API support for the GTX-10 series cards is starting to age out, I'm considering putting an Intel GPU in a system with an AMD CPU for my HTPC.
The CPU side of the business is totally screwed though; they've been doomed since someone at AMD first said the word "Ryzen."
Their networking cards are great too. They just can't come up with any answer to Ryzen.
i see.
My government, picking winners and losers?
Funny, when Europe does this, it’s called “socialism”.
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?
Yes, but it's not socialism we're seeing. It's fascism. Fascism also has state control of private industry. For a different purpose.
And when China and Arab states do it, it's something to aspire.
Yes and no. In this context, it’s more of a shakedown-sorta thing.