The Trend In Trumpian Socialism

What?? Here are three bits. We’re a long way from the old Heritage Foundation or the Club for Growth economic libertarians.

First is from the indefatigable Harold Meyerson in The American Prospect:

https://prospect.org/blogs-and-newsletters/tap/2025-07-17-government-control-of-markets-trump-pentagon-rare-earths/

This Pentagon bit is actually not the first of its type. Some time ago it was reported that the Pentagon or the CIA has set up a venture capital fund to foment nasty investment projects. This general thing predates Trump, to be fair, though I don’t have to be fair.

Genuine libertarian Bill Niskanen, who became a friend after we debated several times, used to call the Defense Department “the second largest planned economy in the world.” Back then his Cato Institute used to publish a pared-down defense budget that rivalled those on the left. Happier times.

Now we have this b.s. straight from the Mango Mussolini:

https://apnews.com/article/trump-us-steel-nippon-golden-share-pittsburgh-china-7981a41d2e518fad07c347042f9fdc38

And this, via Krugman (note the Japan deal sovereign wealth fund part):

About That Japan Deal

Used to be the Grand Poobahs of Laissez Faire would alert the nation to any lapses from what was purported (erroneously) as (Adam) Smithian free-market orthodoxy. Happier times.