American Economics Thread

[Abominable]

Spending the money on prostitutes and drugs would be a better use of the money than what it is intended for. Science has a different meaning in America today. Science in America is about discovering new genders, promoting homosexuality, changing the weather, creating vaccines that need to be taken frequently but don't work.

 

[ZeEa5KPul]

It's actually a $280 billion bill.

There is also about $200 billion for scientific research, including $81 billion for the National Science Foundation, $10 billion for regional technology hubs and $68 billion for the Department of Energy.

China is sh*** in its pants right now. It was already badly, badly behind in basic research spending, this will put the difference in light years. Pretty much game over, honestly.

Go away, tidalwave.

 

[Faustshadowdancer]

US Senate passes bill providing US$52 billion in subsidies to semiconductor industry​

The legislation includes US$39 billion for semiconductor manufacturing in the US, and another US$11 billion for chip research and development. Another US$1.5 billion, the bill’s authors said, goes to “shore up the global telecommunications supply chain and limit the scope of involvement globally of telecommunication companies with close ties to the Communist Party of China, like Huawei”.

This funding comes amid reports in recent days that the US has been investigating possible spying activities by Huawei Technologies, the Chinese telecoms giant, of US military installations on behalf of the Chinese government – allegations Huawei and Beijing have denied.

The legislation also opens the door to billions of dollars for hi-tech scientific research and education – both areas where Biden has said the US is lagging dangerously behind China. Congress would have to separately approve any new funding for the research and education programmes.

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I wish they did this sooner instead of sanctioning the hell out of everything. A fair fight in science, technology, and economics. Instead of trying to hobble your competitor, outdo them. May the best country win and all that. Would’ve been much more interesting, and much better for everybody. But I guess hegemon’s gonna hegemon.

 

[Temstar]

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Womp womp

 

[NiuBiDaRen]

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Oh, the greatness of Kapitalism!

 

[NiuBiDaRen]

inb4 UK owner goes to his car for heating since his home has no heating. Didn't pay the BMW heating subscription and therefore freezes to death in his car.

 

[bobdole]

That story is referring to money for stuff like building electrical charging stations and 5G base stations. But the U.S. bill has $200 billion purely for research. Heck, there is ten times more money in this one bill than all of China spends on basic research per year. And that's not even counting the U.S. baseline basic research spending or that of its NATO/Asian allies. China is going to lagging behind worse than the Qing dynasty in 1850.

I mean, this is epic-level stuff, you'll be feeling the effects of this for decades if not centuries as that's how long the investments will be paying off for.

Jai Amerika. Now the real question is which corporate oligarch will Hoover up this 200 billion.

 

[SanWenYu]

Remember Samsung is also committing $200 billion into 11 chip making plants in Texas. A certain degree of re-shoring will happen over the next 10 years.

Well, according to this

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, it sounds awfully

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. I would not start taking the victory lap until the money is in the pocket.

The company isn’t committed to building the new facilities, and the “hypothetical” proposals could change under various circumstances. The first new production facility would not start operating until around 2034 even if Samsung does proceed. Samsung revealed the plans in part to vie for Texas financial incentives ahead of a program expiration this year.

Korea under Yoon is leaning towards the US.

Korea has never leaned towards China. Not a moment. It has always been a client state of the US. Why is it newsworthy now?

 

[dingyibvs]

I for one like the direction this is going. Two superpowers going at it in science and research spending is a lot more preferable for both countries' citizens as well as the rest of the world than two superpowers going at it in military spending.

 

[9dashline]

Jai Amerika. Now the real question is which corporate oligarch will Hoover up this 200 billion.

Con men like Elon Musk (who took money from Google CEO to start out then slept with his wife ) are at the ready and lined up.... that 280 billion will be gone before you know it, that is if the USD doesnt implode first