American Economics Thread

[Tse]

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SACRAMENTO, Calif. — Gov. Gavin Newsom on Tuesday highlighted what his administration calls a major milestone in California’s long-delayed high-speed rail project, saying the state is nearing the start of track-laying for the first 119 miles of the system.

Kiley and other critics argue the project has exceeded initial cost estimates by tens of billions of dollars and has taken far longer than originally planned. Estimates have ranged from roughly $88 billion to $128 billion above early projections, according to critics.

For context, the bill to construct this one HSR line was passed in 2008, the contracts were awarded in 2013 and the groundbreaking ceremony was in 2015. Yesterday they have announced that they are nearing the start of tracklaying, although USD 15 billion have already been spent.

 

[antiterror13]

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For context, the bill to construct this one HSR line was passed in 2008, the contracts were awarded in 2013 and the groundbreaking ceremony was in 2015. Yesterday they have announced that they are nearing the start of tracklaying, although USD 15 billion have already been spent.

Imagine with US$15B, how many kms would be built in China. In China the average cost is ~$15-20M per km, so China could have built 1,000 kms with that money, not zero km

 

[siegecrossbow]

Imagine with US$15B, how many kms would be built in China. In China the average cost is ~$15-20M per km, so China could have built 1,000 kms with that money, not zero km

But there is no corruption in a liberal democracy…

 

[supercat]

Recession level job openings:

https://twitter.com/i/web/status/2020287208822042628

 

[siegecrossbow]

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I thought the whole point of free market economy is the survival of the fittest?

Goes to show that there is nothing China can do that can satisfy these chair enthusiasts. You can actually reshoot jobs and invest in manufacturing infrastructure and they still have the galls to bitch and moan about unfair practices. I find it ironic that the same folks who layoff millions of workers even when companies are profiting immensely to increase “shareholder values” are complaining that capitalism is too hard.

 

[zbb]

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I thought the whole point of free market economy is the survival of the fittest?

Goes to show that there is nothing China can do that can satisfy these chair enthusiasts. You can actually reshoot jobs and invest in manufacturing infrastructure and they still have the galls to bitch and moan about unfair practices. I find it ironic that the same folks who layoff millions of workers even when companies are profiting immensely to increase “shareholder values” are complaining that capitalism is too hard.

Ironically, the company complaining about Fuyao, Vitro, is a Mexican company.

Vitro—which is based in Monterrey, Mexico—employs 13 Mexican nationals as engineers at its Crestline plant.

They just can't imagine any reasons for Fuyao being able to produce at lower costs other than nefarious hidden subsidies and illegal workers (which they can't find any evidence for). Maybe they should take a look at the pictures in their own article?

Spoiler: This is Vitro's factory

Spoiler: This is Fuyao's factory

 

[MortyandRick]

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If this happened in China, there would be countless articles doom positing this stuff, but since it's the US, barely a peep.

 

[siegecrossbow]

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If this happened in China, there would be countless articles doom positing this stuff, but since it's the US, barely a peep.

That’s because in authoritarian Mangoland anyone who questions the official state narrative will be arrested by ICE and dispatched execution style in the middle of the street.

 

[Africablack]

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I thought the whole point of free market economy is the survival of the fittest?

Goes to show that there is nothing China can do that can satisfy these chair enthusiasts. You can actually reshoot jobs and invest in manufacturing infrastructure and they still have the galls to bitch and moan about unfair practices. I find it ironic that the same folks who layoff millions of workers even when companies are profiting immensely to increase “shareholder values” are complaining that capitalism is too hard.

They are seriously deranged people. Nothing China will do will please them except for China to go back to low value added manufacturing.

 

[supercat]

1.4% growth in 4th quarter:

https://twitter.com/i/web/status/2024843290915524866