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David Thornton's avatar

You can add Midway to the list. There were several points in that battle in which things could have easily gone the other way. The definitive account is called “Miracle at Midway” for a reason.

Salted Grits's avatar

Well said, Steve. Trump's reference to the communism boogeyman man has stood out to me and I find it ironic that he is attempting to resurrect that fear when, as The Cato Institute pointed out in a December 2025 publication, "the administration has unilaterally engineered a series of deals that give the federal government ownership stakes in a portfolio of private companies.

Here’s a quick recap:

June: Trump issues an executive order allowing Japan’s Nippon Steel to purchase U.S. Steel in exchange for a “golden share,” giving the president extensive control over U.S. Steel’s operations.

July: The government becomes the largest shareholder in MP Materials, a company that produces rare earth metals.

August: The administration announces that the government is taking a 10 percent equity stake in Intel, becoming the storied American semiconductor company’s largest single shareholder.

September: An equity deal is reached with Lithium America, including a share of its joint venture with General Motors on the Thacker Pass lithium project in Nevada.

October: The U.S. acquires stakes in Canadian-based Trilogy Metals, inserting the government into a joint venture with Australia’s South32 to develop the Ambler mining district in Alaska.

October: A deal is reached with the Canadian owners of Westinghouse to finance nuclear reactors in exchange for the government receiving a share of future profits, with an option to require an initial public offering of Westinghouse and convert the profit share into a 20 percent ownership stake.

November: The U.S. acquires stakes in rare-earth magnet manufacturer Vulcan Elements, alongside a complementary agreement with rare-earth processor ReElement Technologies that includes warrants giving the government the right to buy stock later.

Last week, the White House announced a preliminary agreement to acquire a stake in xLight, a startup developing technology to enhance extreme ultraviolet lithography machines used in the manufacture of advanced semiconductor chips.

Trump administration officials have made it clear that more deals are forthcoming. Potential targets include defense contractors, quantum-computing companies, and, according to Reuters, “deals across up to 30 industries, involving dozens of companies deemed critical to national or economic security

Cato Institute https://share.google/uAyiVlerURd3Q89l8

Communism? Fascism? Definitely on the far end of both political spectrums.

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