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.
So if I'm reading that right they set for $700 billion worth of purchase during the Bush admin, it got reduced to 426.4 billion by 2014 and they claimed they made $15.3 billion. It sounds like they made a 3.5% gain on their investment total. A win! Yay... Only if you ignore the fact that if that money went in from 2009-2024, the money averages out on inflation to have been worth 481.29 billion. A loss of $12.15 billion dollars if they would have done anything else with it.
Overall I wouldn't be mad that they wasted that money if they had focused on structuring the company moving forward in a manner that wouldn't end up supporting a wealth divide moving forward. The CEO "only" had a salary of $2.1 million in 2024. Which actually sounds mildly alright. Yet her take home was $29.5 million when they got done throwing stocks and bonuses at her. That's after GM stock started 2024 at $55.50.... and ended the year at $35.64.
So the company lost ~36% of its "worth" and she got more than 13x her salary in stock and bonuses.
I was wondering recently if the idea of opportunity cost is the same for governments that can print their own money versus all other entities. I'm not entirely clear on how the that automaker bailouts were financed but would that money even have existed if they hadn't used it for the bailout? It's not like the government was going to create that amount of money and put it in a savings account.
A more appropriate way to look at it might be whether the money earned more than it cost the government to service the debt. IIRC servicing government debt is not inflation-adjusted, so it's probably more informative to compare it to the cost of the debt not inflation adjusted-growth.
But this gets pretty weird since it's not how finance works for entities that cannot print their own money.
Ah but a bailout package is different. That's a display of powerful capitalism. A private company so powerful it can't be allowed to fail and a government so strong it won't allow it to fail.
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.
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.
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.
Well, yeah, they always do. Republican admins always leave the economy in the shitter and saddle the nation up with debt so that the incoming Democratic admin has to spend all of their time bringing the economy back up to speed rather than implementing effective reform.
They aren’t interested in effective reform either. Biden had chances to tax billionaires, or to imprison Trump. But yes they are better at handling the economy.
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.
Heck, as long as they keep being good competition for AMD so they don't become complacent, they can get the souls of the damned as payment for all I care.
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.
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
There are literally fascists in Europe right now lol, it didn't just go away, Macron almost to the fascist party and the AFD is the new fascist german party with huge support. Orbán fulfills at least half the the fascist checkbox if not more.
I am not sure if you have opened my links, but you probably should,
blaming immigrants, camps, detention without due peocess
You would see that these are explicitly mentioned as telltale sign of Fascism.
If you want here is an excellent video explaining fascism, specifically white fascism https://youtu.be/5Luu1Beb8ng
Yes, there is nationalism without any socialism, but saying they shouldn't be called Nazis is diminishing the evil that is currently being done.
I have really not sure what you are getting at, they are nazis because National is pronounced as Nazional in german and that got shortened to nazi, they aren't called nazis because it starts with Na and there is a zi in Sozialistiche.
And the socialism has literally nothing to do with it, NSDAP was socialist the same way north korea is democratic, you know it's called Democratic People's Republic of Korea
saying they shouldn't be called Nazis is diminishing the evil that is currently being done.
Again, this implies that Nazi is like a stronger word for fascists, it's not, it's not like some is a fascist and then they do more bad and become a nazi. The political ideology is called fascism because it originates from Italy, from Mussolinis party.
All nazis are fascists. neo-nazis drew on the nazi movement and borrowed their imagery etc, but they never committed anything close to what the actual nazis did.
MAGAs are fascists who pretty much check all the checkboxes on the fascist list that as I said I have linked above.
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.
Reading comprehension is a skill. It seems like some people just glance at the words and make up what they expect to see. I have no idea how your comment could have been interpreted the way they did without a total disregard for the substance. Maybe they were reading it through an auto translation? Still, seems like the emoji is pretty obvious.
OK that could have been stated more clearly, but why should I be against Intel, because USA has used Cisco for spying?
That's exactly the kind of stupid accusations without evidence I'm tired of USA making against China. Obviously the same standard goes the other way too.
And if Intel goes away, USA can still do it through AMD. 😋
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)
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.
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.
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.
Perhaps seeing your government continually use your tax money to bail out industry that has no tangible benefit to anything but the stock market while fighting against every penny directly invested into the taxed populace colors peoples’ perception a bit.
I disagree with the "no tangible" benefit part, the Worlds economy was about to completely collapse, if you think things are bad now I am sure it could have been much much worse, possibly ww3 post apocalyptic hell-hole.
I do agree the US government sucks and should have implemented more regulations after and fucked up when they didn't. But on the other hand, you guys are the ones with a Fascist government so you do keep electing these people.
Yes, I know I didn’t address nuance of economy and labor market in the curtness of my reply. But that is often poorly communicated or not at all, so we just see another private entity getting our money gratis or with very low interest.
Add onto that the de facto American policy that private citizens are on their own, circumstances be damned, while the capitalist interests get rescued every time their greed and other missteps hurt their ability to compete in the sacred free market and maybe you can see why people are less than charitable with how they perceive these events.
I think you arguing perception and I am arguing disinformation or lack of information as in if you went around the streets and asked some people whether the bailout money was paid back you'd get more people thinking it was just given to them.
While I don't trust this administration in the slightest this isn't unprecidented:
In 2009 he U.S. government took an initial 9.85% ownership stake in Chrysler as part of the company's bankruptcy restructuring. The government later sold its stake to the Italian automaker Fiat in 2011, exiting its investment completely.
As part of the auto industry bailout in 2008 and 2009, the government received a 60.8% equity stake in GM. The government sold its final shares in 2013.
American International Group (AIG): In its bailout, the U.S. government provided roughly $182 billion in aid and at one point held an almost 80% stake in the insurer. The government sold its last shares in 2012, ultimately making a profit.
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.
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.
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.
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."
89 Comments
SpontaneousCombustion@lemmy.world · 242 pts · 360d
Funny, when Europe does this, it’s called “socialism”.
assembly@lemmy.world · 137 pts · 360d
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.
anotherspinelessdem@lemmy.ml · 29 pts · 360d
Didn't Obama do it for GM and a bunch of other companies as part of a bailout package for a period of time?
HarkMahlberg@kbin.earth · 50 pts · 360d
So did Bush. It's only bad when their enemies do it. It's righteous and just when they do it.
LifeInMultipleChoice@lemmy.world · 19 pts · 360d
So if I'm reading that right they set for $700 billion worth of purchase during the Bush admin, it got reduced to 426.4 billion by 2014 and they claimed they made $15.3 billion. It sounds like they made a 3.5% gain on their investment total. A win! Yay... Only if you ignore the fact that if that money went in from 2009-2024, the money averages out on inflation to have been worth 481.29 billion. A loss of $12.15 billion dollars if they would have done anything else with it.
Overall I wouldn't be mad that they wasted that money if they had focused on structuring the company moving forward in a manner that wouldn't end up supporting a wealth divide moving forward. The CEO "only" had a salary of $2.1 million in 2024. Which actually sounds mildly alright. Yet her take home was $29.5 million when they got done throwing stocks and bonuses at her. That's after GM stock started 2024 at $55.50.... and ended the year at $35.64.
So the company lost ~36% of its "worth" and she got more than 13x her salary in stock and bonuses.
Tehhund@lemmy.world · 3 pts · 359d
I was wondering recently if the idea of opportunity cost is the same for governments that can print their own money versus all other entities. I'm not entirely clear on how the that automaker bailouts were financed but would that money even have existed if they hadn't used it for the bailout? It's not like the government was going to create that amount of money and put it in a savings account.
A more appropriate way to look at it might be whether the money earned more than it cost the government to service the debt. IIRC servicing government debt is not inflation-adjusted, so it's probably more informative to compare it to the cost of the debt not inflation adjusted-growth.
But this gets pretty weird since it's not how finance works for entities that cannot print their own money.
NoForwardslashS@sopuli.xyz · 29 pts · 360d
Ah but a bailout package is different. That's a display of powerful capitalism. A private company so powerful it can't be allowed to fail and a government so strong it won't allow it to fail.
Blue_Morpho@lemmy.world · 6 pts · 360d
It was Bush just before he left office.
hitmyspot@aussie.zone · 52 pts · 360d
Yes, but it's not socialism we're seeing. It's fascism. Fascism also has state control of private industry. For a different purpose.
woelkchen@lemmy.world · 18 pts · 360d
And when China and Arab states do it, it's something to aspire.
gravitas_deficiency@sh.itjust.works · 6 pts · 360d
Yes and no. In this context, it’s more of a shakedown-sorta thing.
MdRuckus@lemmy.world · 142 pts · 360d
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.
blattrules@lemmy.world · 58 pts · 360d
It’s only socialism when democrats do it.
pneumaticFax@lemmy.world · 1 pts · 359d
seralth@lemmy.world · 25 pts · 360d
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.
Cethin@lemmy.zip · 7 pts · 359d
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.
iamdefinitelyoverthirteen@lemmy.world · 5 pts · 360d
Yeah, but then poor people would use it.
Formfiller@lemmy.world · 13 pts · 359d
We’ve always had communism for the rich and cutthroat capitalism for the working class
unphazed@lemmy.world · 8 pts · 359d
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.
Seleni@lemmy.world · 6 pts · 360d
If you ask, they’ll tell you it’s different for ‘essential services’. It’s the same excuse they use for the farm handouts.
captainlezbian@lemmy.world · 5 pts · 360d
Because healthcare would help you
devdoggy@lemmy.world · 5 pts · 360d
Or the rental market...
seaQueue@lemmy.world · 94 pts · 360d
Uhhh, so much for the free market Republicans spent decades championing
ronigami@lemmy.world · 36 pts · 360d
They’ll run it into the ground regardless.
seaQueue@lemmy.world · 17 pts · 360d
Well, yeah, they always do. Republican admins always leave the economy in the shitter and saddle the nation up with debt so that the incoming Democratic admin has to spend all of their time bringing the economy back up to speed rather than implementing effective reform.
ronigami@lemmy.world · 3 pts · 359d
They aren’t interested in effective reform either. Biden had chances to tax billionaires, or to imprison Trump. But yes they are better at handling the economy.
UltraGiGaGigantic@lemmy.ml · 1 pts · 359d
The "smartest people in the country" cant do two things at once?
Formfiller@lemmy.world · 1 pts · 359d
And then Fox runs nonstop debt fear mongering and blaming democrats for the fiscal irresponsibly of the republicans
FundMECFS@lemmy.dbzer0.com · 4 pts · 359d
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.
desmosthenes@lemmy.world · 1 pts · 359d
beat me to it
kalkulat@lemmy.world · 77 pts · 359d
Wow. Throw 16M people off health care, then invest the 'savings' in corporations. HEy, Intel, how do you like your blood money?
echodot@feddit.uk · 31 pts · 359d
Historical evidence would seem to suggest that Intel very much do like their blood money I would imagine they would like some more please.
Harbinger01173430@lemmy.world · -1 pts · 359d
Heck, as long as they keep being good competition for AMD so they don't become complacent, they can get the souls of the damned as payment for all I care.
Tangent5280@lemmy.world · 4 pts · 359d
I don't think the souls of the damned are up for grabs, since, you know, they're damned and all.
Harbinger01173430@lemmy.world · 0 pts · 359d
They are worth more
Stern@lemmy.world · 47 pts · 359d
government owning the means of production?
🤔
DragonTypeWyvern@midwest.social · 14 pts · 359d
Not socialism.
There's a different word for that, unless you think the American government represents the working class.
natecox@programming.dev · 46 pts · 360d
TheRealKuni@piefed.social · 27 pts · 360d
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.
Hobbes_Dent@lemmy.world · 4 pts · 360d
Me too.
MapleEngineer@lemmy.world · 38 pts · 360d
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.
kameecoding@lemmy.world · 12 pts · 359d
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://www.keene.edu/academics/cchgs/resources/presentation-materials/characteristics-and-appeal-of-fascism/download/
https://osbcontent.s3-eu-west-1.amazonaws.com/PC-00466.pdf
Spoiler alert: the US is under control of a fascist government.
Knock_Knock_Lemmy_In@lemmy.world · 5 pts · 359d
Nazis are a particularly evil type of fascist. It is the entire point of the label.
kameecoding@lemmy.world · 1 pts · 359d
No, as I explained it was a nickname like Krauts were the German soldiers.
But I guess colloquially it became interchangeable with the use of fascism.
Much like kleenex became a word to mean box of tissues even though it's just a brand of it.
So fascism = box of tissues, nazi = kleenex.
Either way, like I said, it's just being pedantic, fascist cunts are fascists cunts doesn't matter if they are Nazis, Magas or Soviets.
Knock_Knock_Lemmy_In@lemmy.world · 1 pts · 359d
There were fascists in Europe until the 1970s.
The MAGA movement is fascist but it also has strong overtones of Nazi (blaming immigrants, camps, detention without due peocess).
Yes, there is nationalism without any socialism, but saying they shouldn't be called Nazis is diminishing the evil that is currently being done.
kameecoding@lemmy.world · 1 pts · 359d
There are literally fascists in Europe right now lol, it didn't just go away, Macron almost to the fascist party and the AFD is the new fascist german party with huge support. Orbán fulfills at least half the the fascist checkbox if not more.
I am not sure if you have opened my links, but you probably should,
You would see that these are explicitly mentioned as telltale sign of Fascism.
If you want here is an excellent video explaining fascism, specifically white fascism https://youtu.be/5Luu1Beb8ng
I have really not sure what you are getting at, they are nazis because National is pronounced as Nazional in german and that got shortened to nazi, they aren't called nazis because it starts with Na and there is a zi in Sozialistiche.
Here it is how it's pronounced if you are interested https://youtu.be/VxxFl5Xc8nc
And the socialism has literally nothing to do with it, NSDAP was socialist the same way north korea is democratic, you know it's called Democratic People's Republic of Korea
Again, this implies that Nazi is like a stronger word for fascists, it's not, it's not like some is a fascist and then they do more bad and become a nazi. The political ideology is called fascism because it originates from Italy, from Mussolinis party.
All nazis are fascists. neo-nazis drew on the nazi movement and borrowed their imagery etc, but they never committed anything close to what the actual nazis did.
MAGAs are fascists who pretty much check all the checkboxes on the fascist list that as I said I have linked above.
Knock_Knock_Lemmy_In@lemmy.world · 1 pts · 359d
The entomology is irrelevant. No-one should have a problem with MAGA leaders being referred to as Nazis.
Buffalox@lemmy.world · 34 pts · 360d
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.
XenGi@feddit.org · 9 pts · 359d
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.
Buffalox@lemmy.world · 8 pts · 359d
Can you not see the crazy smiley? Clearly indicating the statement is crazy. It was sarcasm, but OK I'll add the /S.
Also the part that USA did it for decades before China should clearly indicate the part above was sarcasm???
absentbird@lemmy.world · 4 pts · 359d
Reading comprehension is a skill. It seems like some people just glance at the words and make up what they expect to see. I have no idea how your comment could have been interpreted the way they did without a total disregard for the substance. Maybe they were reading it through an auto translation? Still, seems like the emoji is pretty obvious.
dreadbeef@lemmy.dbzer0.com · 2 pts · 359d
That might be how you are supposed to read that response
Buffalox@lemmy.world · 1 pts · 359d
OK that could have been stated more clearly, but why should I be against Intel, because USA has used Cisco for spying?
That's exactly the kind of stupid accusations without evidence I'm tired of USA making against China. Obviously the same standard goes the other way too.
And if Intel goes away, USA can still do it through AMD. 😋
boonhet@sopuli.xyz · 6 pts · 359d
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)
panda_abyss@lemmy.ca · 28 pts · 360d
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?
FreedomAdvocate@lemmy.net.au · 15 pts · 360d
No, not at all. The government bought shares in Intel. When you have shares in a company you own part of the company.
JustAnotherPodunk@lemmy.world · 7 pts · 360d
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.
motor_spirit@lemmy.world · 26 pts · 360d
SnotFlickerman@lemmy.blahaj.zone · 22 pts · 360d
AyyyyyyyyMD
FauxLiving@lemmy.world · 19 pts · 360d
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
deathbird@mander.xyz · 2 pts · 360d
🤫
MedicPigBabySaver@lemmy.world · 17 pts · 360d
Release the Trump/Epstein files
DragonTypeWyvern@midwest.social · 16 pts · 359d
Everyone calling this socialism is a moron
Corkyskog@sh.itjust.works · 2 pts · 359d
Care to elaborate?
DragonTypeWyvern@midwest.social · 14 pts · 359d
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.
pneumaticFax@lemmy.world · 2 pts · 359d
Could call it national socialism.
UpperBroccoli@lemmy.blahaj.zone · 15 pts · 359d
Boycot Intel? Okay, you got it!
CatDogL0ver@lemmy.world · 9 pts · 359d
Already buying AMD. Nothing personal, AMD CPUs are just better, faster, more efficient and easier to upgrade.
shalafi@lemmy.world · 12 pts · 360d
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?
witten@lemmy.world · 7 pts · 360d
kameecoding@lemmy.world · 2 pts · 359d
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.
CH3DD4R_G0BL1N@sh.itjust.works · 9 pts · 359d
Perhaps seeing your government continually use your tax money to bail out industry that has no tangible benefit to anything but the stock market while fighting against every penny directly invested into the taxed populace colors peoples’ perception a bit.
kameecoding@lemmy.world · 0 pts · 359d
I disagree with the "no tangible" benefit part, the Worlds economy was about to completely collapse, if you think things are bad now I am sure it could have been much much worse, possibly ww3 post apocalyptic hell-hole.
I do agree the US government sucks and should have implemented more regulations after and fucked up when they didn't. But on the other hand, you guys are the ones with a Fascist government so you do keep electing these people.
CH3DD4R_G0BL1N@sh.itjust.works · 2 pts · 359d
Yes, I know I didn’t address nuance of economy and labor market in the curtness of my reply. But that is often poorly communicated or not at all, so we just see another private entity getting our money gratis or with very low interest.
Add onto that the de facto American policy that private citizens are on their own, circumstances be damned, while the capitalist interests get rescued every time their greed and other missteps hurt their ability to compete in the sacred free market and maybe you can see why people are less than charitable with how they perceive these events.
kameecoding@lemmy.world · 2 pts · 359d
I think you arguing perception and I am arguing disinformation or lack of information as in if you went around the streets and asked some people whether the bailout money was paid back you'd get more people thinking it was just given to them.
BromSwolligans@lemmy.world · 11 pts · 360d
Wasn't government cross-pollinating with industry a relevant component in 20th century definitions of fascism?
SocialMediaRefugee@lemmy.world · 9 pts · 359d
While I don't trust this administration in the slightest this isn't unprecidented:
In 2009 he U.S. government took an initial 9.85% ownership stake in Chrysler as part of the company's bankruptcy restructuring. The government later sold its stake to the Italian automaker Fiat in 2011, exiting its investment completely.
As part of the auto industry bailout in 2008 and 2009, the government received a 60.8% equity stake in GM. The government sold its final shares in 2013.
American International Group (AIG): In its bailout, the U.S. government provided roughly $182 billion in aid and at one point held an almost 80% stake in the insurer. The government sold its last shares in 2012, ultimately making a profit.
Ilovethebomb@sh.itjust.works · 1 pts · 359d
Yeah, it's one of the smarter things the US government has done, especially considering the impact a bankruptcy would have on the economy.
SocialMediaRefugee@lemmy.world · 2 pts · 358d
The loss of intel, its facilities and staff, would be a pretty hard blow.
Grimy@lemmy.world · 7 pts · 360d
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.
humanspiral@lemmy.ca · 6 pts · 359d
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.
balder1991@lemmy.world · 6 pts · 360d
Next healthcare?
cupcakezealot@piefed.blahaj.zone · 6 pts · 360d
us taking a stake in a failing company sums up america
blindbunny@lemmy.ml · 4 pts · 360d
Remember we bailed out Harley Davidson. Twice.
TommySoda@lemmy.world · 6 pts · 360d
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.
glowing_hans@sopuli.xyz · 4 pts · 359d
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.
vane@lemmy.world · 4 pts · 359d
OpenAI next. You don't want AI but you will pay for it in taxes.
deathbird@mander.xyz · 4 pts · 360d
Cool, now do Duke Energy. And Exelon. And Entergy. Etc. (Not that I trust this admin ofc, but if you want collective ownership...)
Tollana1234567@lemmy.today · 3 pts · 359d
isnt intel kinda dying with the latest fiasco with thier chips.
captain_aggravated@sh.itjust.works · 5 pts · 359d
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."
ipkpjersi@lemmy.ml · 3 pts · 359d
Their networking cards are great too. They just can't come up with any answer to Ryzen.
Tollana1234567@lemmy.today · 1 pts · 359d
i see.
cupcakezealot@piefed.blahaj.zone · 1 pts · 359d
HugeNerd@lemmy.ca · 1 pts · 359d
My government, picking winners and losers?