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Congressional ratification of President Trump's corporatism
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Sott.net
Despite regularly denouncing the rising socialist menace,arguably just as, if not more, dangerous to liberty and prosperity as anything proposed by Zohran Mamdani or Bernie Sanders:While President Trump and his defenders claim making these "investments" will benefit the American people, the truth is this policy will harm most Americans.by incentivizing investors to support these companies because.
For example, after the government announced it would acquire ten percent ownership in chip manufacture Intel, the company's stock price had a big increase.When investors allocate their resources to companies because government is supporting those companies, capital is deprived to businesses that can thrive by pleasing consumers instead of politicians.It also incentivizes other businesses to seek government investment instead of developing ways to better serve consumers.So, the "beneficiaries" of government support will be forced to make decisions based on political considerations rather than based on what will maximize profits.
This will have negative effects on the companies and the entire economy.Given how many Republicans have been critical of the rise of an openly socialist wing of the Democratic party, it would be reasonable to expect congressional Republicans to push back against President Trump's use of taxpayer funds to take ownership interests in private companies.The provision in question creates athat produce batteries, as well as critical minerals, materials, and chemicals.
The bill allows theThis provision is claimed to be justified because it ensures the military-industrial complex has reliable supplies.
Therefore, anyone who raises concerns about this expansion of the Pentagon's influence over private businesses will be told that this is a limited grant of authority done for national security purposes.History shows that new infringements on liberty often start as limited measures presented as supporting national security and then expand over time.Once they have embraced the principle, it will be difficult for them to oppose future legislation expanding government "investment" in private businesses.President Trump's policy of using government funds to invest in private companies in exchange for partial government ownership of the companiesIf the final version of the NDAA gives congressional authorization to President Trump's corporatist policy,