For those of you who think that Trump is part of the oligarchy

[RVonse]

https://www.wsj.com/business/trump-invokes-golden-share-to-block-u-s-steel-plans-for-illinois-plant-f6b661ed?gaa_at=eafs&gaa_n=ASWzDAgk7J05BwtcPDD124n1wYQEfKsJoMTUDqk6JdjkH5haqD9FQ0g2V9a75_hf9tU%3D&gaa_ts=68d0f20d&gaa_sig=X8YzfxAtQDkcR23BweJzoq5oONHxbV737jpVsDh3mh2jk70Pt5fTBpTDAv15iajlXMm4EKiimsemyNCiT6aOEg%3D%3D

I can assure anyone who might be curious the above article is not fake news and I know this because I work at the illinois plant mentioned.

When it comes to all politicians its really how they act that counts and not what they say. And what Trump just did really can't be spun as anything else but a pure demonstration of direct benefit for US labor. What he just did is what the Democrats used to do for union labor.

So there can be room for some to claim it wrong for our government to be involved with private capitalism. No argument on that. Its just that I can no longer see the point of argument being Trump is an oligarch only interested in big business. Not after seeing what he just did in real life.

 

[Loren Pechtel]

That's paywalled.

And what might benefit your job comes at a high cost to other Americans--keeping it open almost certainly produces a net loss of US jobs.

I actually think that we probably should keep steel plants open for defense reasons, but not to protect jobs.

And it's symbolic, anyway. This isn't about US labor.

 

[ZiprHead]

Apparently you have no idea what an oligarchy is.

 

[bilby]

Apparently you have no idea what an oligarchy is.

The Trump administration is better described as a kakistocracy anyway, though of course the two are not mutually exclusive.

 

[patchy]

Whatever form of “government” this is, they’re shit at it.

I say:

Boo kakistocracy.

 

[RVonse]

And what might benefit your job comes at a high cost to other Americans--keeping it open almost certainly produces a net loss of US jobs.

That would be very difficult to prove. What we can see for sure is the immediate future:

PRO (keeping the plant open)
1) Keeps approximately 3000 labor wage earners from losing their job. Keeping those people alive means they also buy locally to provide an additional knock on effect of 21000 jobs down the line.

2) Keeping this plant open means there is a continuation of tax revenue for Illinois.

3) Property values in the local area stay higher. Less crime to worry about.

4) The United States military directly benefits having an integrated steel plant located on the Mississippi river that can make steel from raw materials. The more profitable electric arc plants can not do that. An integrated mill is more expensive than recycled steel but strategic if supply lines over the road are not open or if recycled steel becomes scarce.

CON (keeping the plant open)
1) Our CEO gets less bonus money due to not maximizing profitability.

2) Its also bad for people like myself who were planning to retire anyway. Because people like myself won't get the normal buy out packages that are always offered before a plant closing.


I would take the pro's over the con's any day and I'm one of the people in the con column.