Wondering what Harry Truman would have made of the fact that he could have nationalized US steel after all, but only if he sold it to Japan first - ThreadSky

donmoyn.bsky.social • 5 days ago

Wondering what Harry Truman would have made of the fact that he could have nationalized US steel after all, but only if he sold it to Japan first

Reposted from Scott Lincicome

US Steel has effectively been nationalized (by the political party supposedly fighting American socialism)
www.nytimes.com/2025/06/15/b...

Comments

datamule.bsky.social•5 days ago

rebeccasf25.bsky.social•5 days ago

I thought the president could not gain financially from government policies. This sounds like a kickback. This president is corrupt!

chrisbrown-nc.bsky.social•5 days ago

The “free market” wins again! Haha

gpswenson.bsky.social•5 days ago

How much of a cut did Trump take for brokering the deal?

backspring.bsky.social•5 days ago

Now that we have nationalized US Steel, what's next?

grandpagames.bsky.social•5 days ago

SpaceX, hopefully.

saltybiscuit.bsky.social•5 days ago

Holy shit.

petehouse.bsky.social•5 days ago

I read somewhere that it's 10 years. JAPAN owns it, gets 50% for about 10 years, then I don't know, the terms change after that, not necessarily in U.S. favor.??

gspiggott.bsky.social•5 days ago

Thank goodness they are committed to smaller government.

fffanatic06.bsky.social•5 days ago

wait, successors as in his family? or successors as in future presidents?

lunathepugsmom.bsky.social•5 days ago

Or someone he designates? So he designates his sons or daughter on his way out? It doesn’t stay with the government at all. It’s been basically stolen from the US now.

frosst.bsky.social•5 days ago

Pretty sure that means like if the president appoints someone to watch over it. I wouldn’t put it past trump to do something sleazy with that power, of course, but I’m 90% sure once he goes the power goes

frosst.bsky.social•5 days ago

Likely presidents, solely because of the use of the word “White House” in the paragraph prior. It’s a valid question though

godfreyforoh.bsky.social•5 days ago

how is this legal? Is it?

piglet42.bsky.social•5 days ago

Ironically, it seems quite legal, although it breaks with norms in ways that the Dems would never have dreamed of.

Volkswagen has a similar arrangement, the government has veto power over its business decisions.

blossomhill.bsky.social•5 days ago

Oh, you steelworkers should be so happy trump has control over you. Just a reminder, everything TACO touches dies.

apresneptune.bsky.social•5 days ago

can we trick him into prison if his cell has golden bars? i've never seen such gold freakery from anyone in my life -- especially from alphadogs like himself

piglet42.bsky.social•5 days ago

When Musk started attacking Trump, I wondered whether Trump might nationalize SpaceX on national security grounds. It's a subtle irony but the fact that the Trump regime is willing to break norms in ways that Dems would never dare could lead to curious results.

https://bsky.app/profile/piglet42.bsky.social/post/3lqwrz3qrjc2l

jakwash.bsky.social•5 days ago

It’s not really socialism if Trump owns it.

lovewinzalways.bsky.social•5 days ago

How much do we want to bet that Trump actually does own it; that the "golden share" contractually belongs to him, not to the US government?

petehouse.bsky.social•5 days ago

I'm pretty sure the golden shares just gives US control for 10 years while Japan gets 50% until then. After that not so golden.

clfisch.bsky.social•5 days ago

It’s not nationalized. Trump gets the stake and then anyone he names after he’s not president.

seanoconnor.bsky.social•5 days ago

He wasn't savy like the 79 year old diaper wearer is...

kb-sherman.bsky.social•5 days ago

We went on a tour of the Carry Blast furnaces and our tour guide grew up in Pittsburgh and later went on to run Alcoa in Europe. His opinion was that all but 1 US steel mfg drained their profits and never put money back into the plants to modernize.

dewtell.bsky.social•5 days ago

I imagine he would have gotten a bit more pushback at the time than he might today. Relations with Japan were a bit strained at the start of his Presidency a few years earlier.

george3-1953.bsky.social•5 days ago

I think Trump is the one that will have a stake, not the Whitehouse

petekruger.bsky.social•5 days ago

Somewhere, Harry Truman is looking down yelling “Are you FUCKING kidding me?”

fkess23.bsky.social•5 days ago

No country, company, individual, anyone should make a “deal” with Trump. It will only benefit him and hurt you and/your brand. He’ll sell off the whole country for a piece.

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