US Steel Sold

[StarTech]

I just can't believe our main steel manufacture have been sold to the Japanese. Our financial investors are selling out America just to make quick short term profit.

 

[7394]

And this is news to you ?

 

[bertsmobile1]

China is by far the smartest country on the planet .
They are using the greed of the share holders in Western countries to destroy the economy of that country by off shoring production to China to make ever increasing profits and in most cases from a falling market share .
So Wall St is destroying the USA financially.
You can thank every president from Regan for this as bit by bit they changed all the rules in favour of Wall St investors
As more & more both whole goods , steel & steel sub assemblies are imported from China less & less US steel is being made.
Steel plants require lot of investments all the time to upgrade the plant so they need a lot of tonnage through put to provide the profits to justify the investments .

At the same time Russia is destroying the USA politically

But you lot just keep riding around in your massive suburban assault vehicles shooting off whatever assault weapon that makes you feel like a real man while buying everything from Wally's HF or Amazon till you consume yourselves into a 3rd world economy.

 

[StarTech]

Well I driving normally a 25 yr Chevy S1500, Shop very little at Tramlaw, HFT, and some at Amazon. I try get best value for money. This does not mean buying the cheapest things out there but things that will last.

When Sam Walton was running Walmart it was buy and sell American products but once he died Walmart start buying the bulk of their items out of China. As you Greed is the problem.

One problem that I am having lately is that the OEMs are falling for the Chinese trap as I have seen the exact same products from the aftermarket companies.

I don't need an assault weapon to spray bullets at my targets. I am an one shot one kill guy. Yes both my rifle and shotgun have multiple round mags but that is a storage space. And even when I go hunting I only kill what I need for a meal not a truck load. I see no point in killing 6 geese when one goose feds the family.

But I do agree most of people around here are buying the cheapest things they can but still paying an arm and leg for alcohol, tobacco products, and illegal drugs. They then bring that junk equipment into my shop expecting me to fix it for free.

 

[bertsmobile1]

And I missed my favourite target MBA's who know every thing about money & nothing about either the company they are destroying or the industry the company is in.
It is a case of suck the business dry, sell off what is left over then on to the next company to destroy.
But you might get lucky & the Japanese owners sent their 30 year old plant to the USA to modernize it and make it profitable again
I mean Bezos could have bought it, closed it down sold the steel to China as scrap then bought new Chinese steel to build a new amazon warehouse

 

[Tiger Small Engine]

And I missed my favourite target MBA's who know every thing about money & nothing about either the company they are destroying or the industry the company is in.
It is a case of suck the business dry, sell off what is left over then on to the next company to destroy.
But you might get lucky & the Japanese owners sent their 30 year old plant to the USA to modernize it and make it profitable again
I mean Bezos could have bought it, closed it down sold the steel to China as scrap then bought new Chinese steel to build a new amazon warehouse

When the largest steel manufacturer in the U.S. sells out to Japanese company, we call that a clue. A canary in the coal mine. Stock market at all time high, unemployment rate very low, however, interest rates are up, and debt is 33.5 trillion. How long will all this hold up?
Merry Christmas

 

[StarTech]

If ran my household like the US government I would be homeless. It is not just one political party either that is at fault for the mess we are in; it is all of them. Just look how they sit of their fat backsides and do nothing until the very last minute. Most of us got to work at things all the time not just at the minute. Most of the year I work my backside off. Now of course there a month or so there is nothing to do in the business but that when doing most my personal stuff like home repairs.

Just look how are doing on the immigration issue. They should have been working that years ago. We need our 40+ yr old immigration laws update to deal with the modern day issue; not the 70's and 80's issues.

As for our debit we need to both cut down on the spending at the same time stop all the tax loop hole cheats out there which would increase our revenue. Everybody should be paying their fair share. So far in my lifetime we only had one time the US has been out debit and that was when Jimmy Carter was president. And the very next president put us right back in debit.

 

[StarTech]

And is an article on some what many think are US companies that are no longer US companies.

https://www.cnn.com/2023/12/19/business/american-companies-foreign-owners-us-steel/index.html

 

[upupandaway]

No offense, but come on people, this won't be the only company foreign owned. If u really want to be depressed, know that International Harvester truck is owned by the car company HItler created, the Jeep that was built for WW2 was owned by an Italian co, now french, the "American" Toledo scale co is owned by a Swiss co., Your good ol Baldor motor is now made by another Swiss co. Don't fret you can always relax and down a Belgian owned Budweiser, among others.

US just seems to be the develop company, sell to another country country.

 

[StarTech]

Would that be Volkswagen? If I remember they went to Canadian company first then pass along the to another company.