The U.S. government now owns 10% of Intel. In most countries outside the Western bloc, that kind of state ownership would be labeled as Socialism.

But in the U.S., so-called Capitalists get to decide what counts as Socialism and what doesn’t. When billions go to help the poor, it’s condemned as Socialism. When billions go to bail out the wealthy, somehow it’s not.

This page is a permanent link to the reply below and its nested replies. See all post replies »

BohoBabe · M

TBH, this is part of Capitalism. Some will say it's "Crony Capitalism," but this literally always happens under Capitalism. Government officials will personally own an industry, but pretend it's been nationalized.
To use the most famous example, a lot of industry in Nazi Germany that was said to be nationalized was personally owned by Hermann Göring.