President Biden says in a statement to be released Thursday that the U.S. needs to “maintain strong American steel companies powered by American steel workers."
It’s only a free market when it benefits the white 1%. U.S. Steel has been mismanaged for literally a century. I have no doubt that the Japanese could do it better.
Japanese foreign investment has been depressingly geared towards American loot-and-scoot practices.
Sapporo Beer’s acquisition of Anchor Steam Brewing Company is a great example. They took over a local institution that had been in operation for over a century and quite profitable for decades, then ran it into the ground within a few years (with help from COVID, but still…)
It’s only a free market when it benefits the white 1%. U.S. Steel has been mismanaged for literally a century. I have no doubt that the Japanese could do it better.
Japanese foreign investment has been depressingly geared towards American loot-and-scoot practices.
Sapporo Beer’s acquisition of Anchor Steam Brewing Company is a great example. They took over a local institution that had been in operation for over a century and quite profitable for decades, then ran it into the ground within a few years (with help from COVID, but still…)
See: “only free market when it benefits the white 1%”
You’re just describing capitalism, a system which everyone involved says they love and support.
Steel has always been a national security issue. We make tanks and ships from that stuff.
Then why isn’t it nationalized?
We have never nationalized US Industry. The only one I can think of is air traffic controllers. Thanks, Reagan.