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Intel faces investor backlash for selling 10% stake to Trump admin at discount (arstechnica.com)
submitted 1 year ago by to c/technology@lemmy.world
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[–] 12 points 1 year ago (14 children)

And it’s communism.

COOOOOOOOMMMUUUUUUNIIIIIIISSSSSMMMMMMMM!!!!!

This ain't gonna be that buddy, this is capitalist maneuvers the whole way. Either funds will be shoveled into private pockets or the value of this will be juiced to support the extrajudicial shit that's going on.

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  • [–] 9 points 1 year ago* (last edited 1 year ago) (13 children)

    Prior to a week ago every conservative was 100% against any form of government corporate ownership. They hated TARP, Solyndra and quantitative easing. They went so far as to want to privatize social security and the post office. Countless hours have been spent justifying all of this and it was baked into their identity that it was all bad in any flavor.

    Then, suddenly, Trump is for it and they fall into line without a moment of cognitive dilemma. Cult mentality. They cared about communism before and suddenly they don't and they haven't given us a reason. They haven't admitted their change.

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  • [–] 5 points 1 year ago (12 children)

    I don't disagree with anything else you said, they are a cult it's just not communist at all. Fascist yes

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  • [–] 0 points 1 year ago (11 children)

    Not communist except for the government ownership of companies?

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  • [–] 2 points 1 year ago (8 children)

    Plenty of capitalist companies are government owned. Canada has crown corporations, for example, that do generate profits. https://en.wikipedia.org/wiki/List_of_government-owned_companies

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  • [–] 1 point 1 year ago (7 children)

    Are you in favor of this?

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  • [–] 3 points 1 year ago (6 children)

    In favour of what

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  • [–] 2 points 1 year ago (5 children)

    The government holding ownership stakes in companies. If so, have you been in favor for a long time or did it start this week? Because I'm focusing on the people that just recently adopted this position after years of opposition to anything that even smelled like government interfering with business.

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  • [–] 1 point 1 year ago (4 children)

    I never took a stance on it.

    Examples of federal Crown corporations include: the Canadian Broadcasting Corporation Canada Post

    These are fine, fairly high quality in terms of service. And I guess in general these two having revenue streams and self funding mean that I don't pay taxes to run a national broadcaster and our postal service.

    I would rather not have junk mail or advertisements in our public broadcasts. I would have to look at numbers to say whether the taxes are a worthwhile trade-off.

    I do not want news or mail to only have corporate owned options, because then capitalist interests would have a much heavier influence on communications is Canada. I wish we had a national crown ISP, for the same reason.

    In Canada, state-owned corporations are referred to as Crown corporations, indicating that an organization is established by law, owned by the sovereign (either in right of Canada or a province), and overseen by parliament and cabinet.

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  • [–] 1 point 1 year ago (3 children)

    Then you aren't my target audience. Canadians are very different from USA Republicans who have a long and loud history on this topic and then flipped in one day to say it's okay to have a little communism as a treat.

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  • [–] 1 point 1 year ago (2 children)

    Well yeah sure, it's just a little histrionic to call all government owned businesses communism. They aren't enforcing a monopoly on chip fab or anything.

    Trump tries to ban AMD then sure, it's communism and would be super weird.

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  • [–] 1 point 1 year ago (1 child)

    I really feel like we are talking past each other. I'm talking about people who wanted to privatize the Social Security system and sell off the USPS because they believed any amount of government in any service was dangerous. I'm not being histrionic, I'm asking the people who have spent decades being histrionic to explain why they are suddenly very chill with something that was, until a week ago, a firmly held religious belief.

    Don't mistake my position for that of the people I'm trying to reach.

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  • [–] 1 point 1 year ago* (1 child)

    If the government owns every company, maybe you have communism, but most likely what you have is autocracy. If the government owns a 10% stake of one company, that's some nationalisation. There are good reasons for it in capitalism, such as for regulating natural monopolies. I'm not sure Intel falls into "good reasons,' since it appears to me to be some kind of corruption.

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  • [–] 2 points 1 year ago

    10% for now. Trump always changes his mind. One company for now. Except the 15% tax that exists only on Nvidia. 15% for now. Trump always changes his mind.

    Broken record: if Biden or Obama did this the same MAGA people making excuses would be decrying this government overreach. And what happens when Trump isn't in office anymore? When a Dem embraces and extends this governor power grab?

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