Key Mesabi

The key aspect to keep foremost in mind at all times regarding the $15B mega project to construct a steel mill in Iowa (just announced by the convicted felon in the White House) is that it is designed to fail. It touts, at the very least, a 70% to 80% probability for total failure.

Its foreign owner's track record as a conglomerate toying in commerce of failure raises alerts, and this is why the convicted felon in the White House is heralding it as a good deal. For irrefutable evidence of this, take a look back at all of the mega projects the convicted felon in the White House has promised which have never panned out to anything except failure:

This newly announced $15B mega project is no different, conceived solely to reap profit from total collapse via failure-driven profitmaking vehicles including Capital Structure Arbitrage, Credit Default Sweeps, Loan-to-Own Mechanisms, and Commodity Hedging Strategies.

Sadly, this is all carried out flawlessly without violation of any laws on the books because funds need not sit in a room and collude. The financial architecture itself aligns their incentives so that individual actions compound into an overwhelming, self-reinforcing downward force. But of course, only fools will never see or understand any of these details.