Trump's "State Capitalism" Robert Reich

[justaprogressive]

Friends,

If “state capitalism” were proposed by Democrats or progressives, it would be considered socialism or communism. Done by a neofascist president — as chronicled by the The Wall Street Journal — it’s simply considered inefficient (as the Journal concludes).

But Trump’s state capitalism is already large and growing, and it’s profoundly altering what we once thought of as the private sector. Consider what Trump has done in recent weeks:

Allowed Nvidia and Advanced Micro Devices to license artificial intelligence chips to China on condition they pay the United States 15 percent of the money they make.

Demanded that Intel’s CEO resign (the CEO met with Trump yesterday to plead his case).

Proposed that the Defense Department take a 15 percent stake in MP Materials, which mines critical minerals.

Allowed Nippon Steel to take over U.S. Steel on condition that Nippon pay a “golden share” of the proceeds to Washington.

Reserved the right to personally direct some $1.5 trillion of promised investment from America’s trading partners into the United States.

Never before in peacetime has the United States owned so many critical businesses. Never since World War II has the American public owned as much of the private sector.

Karl Marx might have been thrilled. Is the proletariat finally becoming the bourgeoisie, owning the means of production? Not a chance.

https://robertreich.substack.com/p/trumps-state-capitalism]

[Farmer-Rick]

1. Just to clarify, Karl Marx never wanted the state to own

The means of production. He wanted the workers to own the means of production. The USSR owned the means of production and was just as corrupt, greedy and cruel as any corporate filthy-rich capitalist and dictators.

Many socialist, back in Karl Marx's day, thought that if the government owned the means of production, the people and workers would vote them out when they became corrupt. But now we know democracy is not enough to stop oligarchs and fascism.

What we are seeing is fascism. Pedo Trump is selling parts of the US, some businesses, to the highest bidder for his personal profit. He is ordering around corporate CEOs like a good little fascist dictator. He is creating a slush fund to gain political force. He's a strong man who must not be hampered by an archaic constitution that unreasonably limits his power or corporations who do not have his best interests in mind.