Biden signs $280 bil to boost U.S. high-tech manufacturing


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Keep at it Joe. Didn’t even have to shut the government down to get it either.

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Grâce à Nancy!!

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More spend and print. Ridiculous that the government is doing this c

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That's $1 trillion of dollar bills for just two Bills this week.

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More spend and print. Ridiculous that the government is doing this c

Did you read the bill? For companies to take advantage of the funds they have to agree to not invest in China for ten years.

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Flanked by scores of lawmakers, union officials, local politicians and business leaders, Biden feted the legislation, a core part of his economic agenda that will incentivize investments in the American semiconductor industry in an effort to ease U.S. reliance on overseas supply chains for critical, cutting-edge goods.

Corporate welfare front and center. More sincere in a way than others that couch the socialism for the rich under neologisms like "New Capitalism".

Biden has been a neo-liberal shill that will undercut and gaslight the American public while lavishing taxpayer money on big business at every turn.

Since he was a small-time politico in Delaware.

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Biden has been a neo-liberal shill

Neoliberals would never give billions in subsidies to favoured interest groups.

This is what central planning socialists do, same as right here in Japan.

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This is what central planning socialists do, same as right here in Japan.

Socialists would never lavish taxpayer money on corporations while ignoring the welfare of the populace.

That is what neo-liberal capitalist oligarchs do.

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US tech was quite rich enough to do this themselves, but they are not going to turn down free cash.

The US is copying China with state funded industry. That means they are giving public money to rich corporations whilst their own citizens scrape along. Useful political firewood for populists.

The Rose Garden was 'sweltering'? That will be the elephant in the room. Most of this investment will see no return for several years. By which point, we will be busy trying to survive climate change and wondering why politicians gave so much money to rich tech guys when they should have been building climate resilient infrastructure for all of us.

They will be ahead of Europe. Those failed sanctions on Russia are causing an inflationary spiral and seeing energy bills in Europe artificially raised by several hundred percent. It's a quick, easy way to reduce emissions, but European politicians should not expect to survive the electoral consequences of destroying their own economies and bankrupting their own citizens in a failed attempt to damage Russia on behalf of Ukraine. They could afford to send arms to Ukraine, destabilise Russia or bump off Putin, but the energy sanctions were not an option. Arrogance and hubris in government does not end well.

quote: What next?

Very little. The internet has scared governments. They don't want it to develop, evolve or expand other than as a system of state surveillance. They want to put the genie back in the bottle and will ban, censor and block almost anything new - unless it can help them track you 24/7/365.

quote: Decades from now...

...climate change will have wiped us out. Sorry kids, you were born too late.

PS for Taiwan. Once the US doesn't need Taiwanese tech, don't expect the Americans to protect you from China. Once those factories are finished in the US, you will need an escape plan, just like the citizens of HK and Afghanistan. Start planning now, as Hong Kongers should have done at the handover. What happened next was inevitable.

PPS for Japan. It's not just Taiwan the Americans will not need to import from or defend when they are self-sufficient in shiny goodies.

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US tech was quite rich enough to do this themselves, but they are not going to turn down free cash.

That is neither here nor there. What matters is return on investment. The US has not been as competitive as some other nations due to high labor costs and high workplace safety standards.

The US is copying China with state funded industry.

The US is copying the US. In the 1800s the US gave the railroads 20 square miles of undeveloped land for every mile of transcontinental railroad laid. Most of those early railroads made their money developing their real estate and when the land was all sold off found their rail operations were unprofitable and either went bankrupt or merged. More recently the US government subsidized US airlines if they put military UHF radios and NAVAIDs in their airliners and agreed to suspend commercial operations to transport troops and equipment in time of war.

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Necessary move, wish Kishida would invest in reshoring supply chain and tech back to Japan as well. I have just returned from a mining site and apparently the reason for delays in operations is due to Komatsu not being able to supply equipment due to supply chain (China) related bottle necks.

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Self sufficiency will go a long, long way should a world war ever break out.

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More self-reliance, the better

Dunno why ya would wanna continue reliance on others, particularly unfriendly others

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