A New Era of Crony Capitalism Disguised as National Security

Trump’s move to take equity stakes in private companies like Intel marks a dangerous shift — not toward strategic economic planning, but toward a new form of crony capitalism. Unlike the 2008 financial crisis, there is no emergency justifying this level of state intervention. The national security rationale is a convenient smokescreen, masking deals that increasingly benefit the wealthy and well-connected.

It started with Trump demanding an ownership stake in U.S. Steel just to approve its sale to Nippon Steel. Then came the deal with Nvidia and AMD — allowing them to sell advanced chips to China in exchange for 15% of the revenue. Trump used his “executive authority” to coerce compliance from these companies, transforming policy into a tool for financial extraction rather than strategic defense.

Now, reports suggest Trump is pursuing a stake in Lockheed Martin, a key defense contractor.

Who benefits from this? Not taxpayers. Not workers. But politically favored executives, insiders, and billionaires who now operate in a system where access and loyalty to power determine outcomes — not market competition. If coercive equity exchange is the new price of doing business in America, the companies best positioned to thrive will be those with the deepest political ties, not the most innovative or productive.

This isn't industrial strategy — it's opportunism. It tilts the playing field, stalls innovation, and corrupts the market. Claims of national security are simply a thin veil for what is increasingly political extortion.

Trump’s attempt to nationalize American industry will cost the country far more than it gains. Except if you’re a billionaire – they’ll be just fine.

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