You say that as if you are saying something to brag about.
How do nations grow at a rate greater than than the global growth rate? Net exporters or net banking deposits.
Service? It's time to gradually diminish expectations and gradually allow U.S. to shrink if you think service is the answer.
No more inexpensive real estate purchases. See Louisiana Purchase. I don't know if Alaska is worth it. A lot of money is needed to maintain and protect Alaska.
You stated we, U.S. are not a manufacturing nation then you listed a couple of manufacturing companies.
I didn’t say it’s something to brag about but it’s reality. Especially with the cost of paying workers in the US.
Apple doesn’t manufacture in the US, at least not in a significant way, and the majority of their revenue comes from services these days. Microsoft is growing based on cloud services.
Tesla is the exception with American manufacturing, though they do some of it in other countries as well.
Point being these companies combined generate more revenue than most developed countries.
The value of US Steel is a rounding error on these companies’ balance sheets.
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You must watch newsmax 24-7. The US got out of steel domination in the 70s. Keep up and Pittsburgh is better for it.
And next you will be talking about oil. More oil tapped in the last six months than in any point in our history. You won't hear the draft dodger say that. And check their profits bruh.....
But...but...capitalism and free markets. Investors taking a risk. Mergers bring efficiencies. This is good for the shareholders. Blah. Blah. Blah.
Wall Street and London bankers financed the Bolshevik’s.
Corporatism is the transexual sibling to your beloved socialism/communism.
Private finance loves communally held and state run industry. Just one of the many amazing things you can learn here on Letsrun folks! Have you heard the one about how doping doesn't work?
I'm a supply chain guy who has had global responsibility for steel purchases of about $0.5B for 20+ years. USS is/was an iconic American company but very little investment has gone into integrated steel making (iron ore + coke + light a match) vs. the mini-mills like Nucor. Tariffs have provided some respite for the US steelmaking industry but mills in China or Europe tend to be newer and have more efficient, higher quality steel. Contrast this with China or other developing counties where the average mill is probably 15 years old not 75 or 100+. If you are making a high technology product like an electrical motor and you want the most efficient steel you would buy from an Asian or European supplier. I'm sure my father as a WW II veteran who lived 50 years with Japanese kamakazie steel splinters in his legs would not be too happy about a Japanese company buying USS but it is not like there is a long line of US investors Nippon Steel cut in front of
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