THE CAPE CHARLES MIRROR AUGUST 7, 2022
Op-Ed: Madness and Insanity in a Time of Joe Biden
This Op-Ed is special to the Mirror by Paul Plante
Before we get to the meat of the matter here, another title for this thread could have been “Joe Biden’s Ultra-MAGA Great Leap Forward,” although that title would not have truly captured the essence of the madness afoot here as contained in Joe Biden’s First Five Year Plan which we will soon be discussing; and another perhaps more proper title would have been “Joe Biden says America First to Build Back Better to Make America Great Again,” but that would have been too long a title so I condensed it down to its essence, which is insanity and madness in a time of Joe Biden, and here I am talking specifically about the “Statement from President Biden on House Passage of CHIPS and Science Act to Lower Costs, Create Good-Pay Jobs and Strengthen Our National Security,” on July 28, 2022, coupled with a Reuters article on August 3, 2022 titled “As U.S. eyes new China chip curbs, turmoil looms for global market” by Joyce Lee, both of which must be taken together to put flesh on the bones, so to speak, of the title above about madness and insanity in a time of Joe Biden, and the issue, in addition to the further disruption of the global economy caused by other Biden actions has to do with water, and the short-sightedness of the Biden administration as it sacrifices our tomarrow for political gains and expediency for the Biden administration and the Democrats today.
And here, before we go further, we have to ask ourselves this important and relevant question, the answer to which will be coming along shortly, to wit:
I. HOW MUCH WATER DOES A CHIP FAB REQUIRE ON A DAILY BASIS?
And that takes us to the madness and insanity of Joe Biden in his First Five-Year Plan in imitation of Joe Stalin of the Soviet Union which in turn takes us to his “Statement from President Biden on House Passage of CHIPS and Science Act to Lower Costs, Create Good-Pay Jobs and Strengthen Our National Security,” wherein Joe Biden tells the nation and the world, and us, as follows in typical shallow-thinking Joe Biden fashion as follows:
“Today, the House passed a bill that will make cars cheaper, appliances cheaper, and computers cheaper.”
“It will lower the costs of everyday goods.”
“And, it will create high-paying manufacturing jobs across the country and strengthen U.S. leadership in the industries of the future at the same time.”
Now, talk about a political propaganda coup here, people, that sounds grand and glorious, does it not, far, far better than merely a chicken in every pot and a car in every garage, which isn’t much compared to what Joe is offering us here, as Joe and the Democrats continue their efforts to build back better to make America great again by a policy of America first, which means elbowing other countries, starting with China, another hated enemy of Joe Biden and the Democrats, along with Russia, both run by “autocrats” who pose a real serious threat to our “sacred democracy” that Joe and the Democrats are champions of, out of the way of a resurgent America led forth on the world stage by Joe and Nancy Pelosi, who just returned from Taiwan where she was greeted and treated as the queen she really is as is her due.
And that in turn brings us to the Reuters article mentioned above where we learn more about the madness and insanity of Joe’s plans to reconfigure America and the world in his image as follows, to wit:
SEOUL, Aug 3 (Reuters) – Export restrictions being considered by Washington to halt China’s advances in semiconductor manufacturing could come at a substantial cost, experts say, potentially disrupting fragile global chip supply chains – and hurting U.S. businesses.
end quotes
China, people, is like a serpent in the Garden of Eden Joe and the Democrats are promising, and so it is the duty of Joe Biden today to crush the head of the serpent, for the good of the world that sorely needs the stern, guiding hand of Joe Biden to lead it into a Pax Biden that will last for a thousand years by destroying China’s economy along with the economies of Germany and Russia, but really, people, does that matter, that to make America great again by building it back better by a policy of America First, that fragile global chip supply chains would be disrupted, which would hurt U.S. businesses?
Afterall, to build back better, isn’t it first necessary to destroy what now exists in order to clear away the old and prepare the ground and pave the way towards the grand and glorious future Joe is promising us, with cars being cheaper, and appliances being cheaper, and computers being cheaper, and with the costs of everyday goods being lowered while high-paying manufacturing jobs are being created across the country and U.S. leadership in the industries of the future at the same time will be strengthened?
My goodness, who can possibly be against that?
So let’s get some more details here, as follows:
Reuters reported on Monday that the United States is considering limiting shipments of American chipmaking equipment to memory chip producers in China that make advanced semiconductors used in everything from smartphones to data centres.
end quotes
And that is the way a REAL WORLD LEADER like Joe Biden does things – grab the bull by the horns, deftly flip it over on its back, and stomp on its neck and it is done!
If Joe prevents the Chinese from getting chipmaking equipment, then the Chinese can’t make chips!
So how brilliant is the thinking of Joe Biden here, and how he has seen to the core of the matter as to what should be done to make America great again by building it back better after first destroying it by his America First policy?
But what about this “harm” thing?
Besides the Chinese, who everybody knows need to be harmed, who else is going to “get it in the neck” as a result of Joe’s America First policy here?
Let’s go back to Reuters and take a look:
The curbs would stop chipmakers like South Korean giants Samsung Electronics and SK Hynix from shipping new technology tools to factories they operate in China, preventing them from upgrading plants that serve customers around the world.
end quotes
To which, Joe says he doesn’t care, because they aren’t Americans, and they aren’t American companies, which makes them a threat to building back better America to make it great again, and so, they have got to go, too, especially because of the following, to wit:
Samsung and SK Hynix, which control more than half of the global NAND flash memory chip market, have invested heavily in China in recent decades to produce chips that are vital to customers including tech giants Apple, Amazon, Facebook owner Meta and Google.
As well as computers and phones, the chips are used in products like electric vehicles that require digital data storage.
end quotes
And look at that, people, those foreigners have gotten too greedy and too big for their britches and they are taking more than their share and besides, they are trading with Joe Biden’s enemy China, which puts our national security at risk, and so they too need their fangs pulled, which will cut them down to size where they need to be, and hey, in the end, it will all work out right and it will be not only good for America, but for tech giants Apple, Amazon, Facebook owner Meta and Google, as well.
And talking about threats to our national security that Joe Biden is going to put an end to, let’s again go back and see what Reuters has on that, as follows:
“Samsung’s China production alone accounts for more than 15% of global NAND flash production …”
end quotes
That, people, is a clear threat to our sacred democracy, having all those investments made in an autocracy, and so Joe has no other choice but to act, and to act decisively, and to act now, not tomorrow or the next day, or China will clearly win the race for the TWENTY-FIRST CENTURY which can’t be allowed, period.
So what then can we expect when Joe strikes?
Here is what Reuters is telling us:
“If there’s any production disruption, it will make chip prices surge,” said Lee Min-hee, an analyst at BNK Securities.
The potential for fresh turmoil – the curbs have yet to be approved – comes just as a global chip supply shortage that has disrupted businesses from autos to consumer devices for more than a year is finally showing signs of easing.
Supply chain adjustments and weakening consumer demand amid the slowing global economy have combined to repair the damage.
But the shortage has yet to be fully resolved.
Any signs of fresh disruption could rekindle supply uncertainty, triggering a price surge – as seen earlier this year when China imposed COVID-19 restrictions in Xian where Samsung manufactures chips.
end quotes
And those high prices, of course, in a capitalistic country like ours, which Joe is going to build back better to make America great again, would serve as an incentive to make those chips here as opposed to in some foreign country that is not America, which would be good for our economy and our GDP, and some more fall-out that simply will have to be endured, because we are in a transition, people, as Peter Buttigieg says, and he would know, is as follows, to wit:
Chipmaking equipment has to be installed and fully tested months before production is due to start.
Any delay in shipping the gear to China would pose a real challenge to chipmakers as they seek to manufacture more advanced chips in China facilities.
“Many U.S. companies, like Apple, use Samsung and SK Hynix memory chips.”
“No matter what strategy (the South Korean firms) end up choosing, it will have global implications,” said BNK Securities analyst Lee.
end quotes
And that is what I am calling insanity and madness, Joe Biden single-handedly disrupting the global economy with his “Ultra-MAGA,” but on the other hand, for there to be progress, especially when building back America better by a policy of America First to make it great again in order to provide the grand and glorious future Joe is promising us, with cars being cheaper, and appliances being cheaper, and computers being cheaper, and with the costs of everyday goods being lowered while high-paying manufacturing jobs are being created across the country and U.S. leadership in the industries of the future at the same time will be strengthened, somebody else has to be hurt, and that should be these foreign upstarts who are stealing market share from American companies who should be making chips here instead of somewhere else, and so, Joe is going to make that happen, come what may.
So how much water does it take to operate a chip fab then, when Joe starts building them here?
By some estimates, a large chip fab can use up to 10 million gallons of water a day, which is equivalent to the water consumption of roughly 300,000 households and that is because each chip needs to be rinsed with ultrapure water (UPW) — water so pure that is considered an industrial solvent — to remove debris (ions, particles, silica, etc.) from the manufacturing process and prevent the chips from becoming contaminated.
So where, then, is Joe Biden going to get all that water from?
Or doesn’t he have a clue?
Stay tuned as we explore this matter further, because the future Joe is going to impact is that of ourselves, our children and grandchildren and on down the line.
http://www.capecharlesmirror.com/news/o ... joe-biden/
MADNESS AND INSANITY IN A TIME OF JOE BIDEN
Re: MADNESS AND INSANITY IN A TIME OF JOE BIDEN
THE CAPE CHARLES MIRROR AUGUST 7, 2022 AT 3:44 PM
Paul Plante says:
And before we go further here with respect to the chaos the autocrat Joe Biden is getting set to unleash upon the world as part of his “Ultra-MAGA Great Leap Forward” as embodied in Joe’s First Five Year Plan now known to history as “Joe Biden’s America First Plan to Build America Back Better to Make America Great Again,” this as the autocrat Joe continues to grow our economy from the bottom up and middle out for working families all across the country, which is something we should all be for, because it is the right thing to do, and as we continue to follow the science, for today, science is our god and we truly worship it as a deity, it is necessary for all of us to understand and accept the fact that today, at this point of inflection which is really a transition to a new and better age on earth as a result of Joe Biden’s “BUILD BACK BETTER WORLD” Joe told us and the candid world about in his “Remarks by President Biden Before the 76th Session of the United Nations General Assembly” on September 21, 2021 at United Nations Headquarters in New York, New York at 10:01 A.M. EDT, we truly need Joe Biden not only as an autocrat in the United States of America, but more than that, the autocrat of the world, because at this inflection point in history, it is very apparent to everybody that democracy in the United States of America does not work anymore, precisely because democracy requires consensus, which in today’s polarized country, where Joe Biden considers a majority of the citizens to be “DREGS OF SOCIETY,” is not going to happen, so that Joe Biden wasting time trying to muster consensus simply takes too long in this fast-moving world, where Joe Biden intends to win the RACE FOR THE 21st CENTURY, which makes it clear to a blind man that only autocracies today are equipped to meet the extraordinary challenges of modern times, which is why God blessed us with Joe Biden as our autocrat to lead us forth into a grand and glorious future of his making, with Joe Biden’s Washington, D.C. being seen by all the world and us too as a SHINING CITY ON A HILL because it is the CITY OF JOE!
And with that understood and accepted, that Joe Biden is an autocrat because we need him to be, which means we want him to be, which gives him his mandate to be an autocrat blessed by the people whose lives he now rules over, to see the truly global scope of Joe Biden’s vision that leads us forth from the benighted ignorance of the Trump years in America into the light of a brand new day, the first day of the Biden Thousand Year Reich, and in turn brings us to this very moment in time, we need to go back to Joe’s “Remarks by President Biden Before the 76th Session of the United Nations General Assembly” on September 21, 2021 at United Nations Headquarters in New York, New York, where we have the global vision of Joe Biden’s “ULTRA-MAGA GREAT LEAP FORWARD” laid out for us in terms a common person without a JD from Harvard could understand, because in his heart, Joe is a die-hard Union man who knows in his heart the plight of the working classes in America, to wit:
Simply put: We stand, in my view, at an inflection point in history.
And I’m here today to share with you how the United States intends to work with partners and allies to answer these questions and the commitment of my new administration to help lead the world toward a more peaceful, prosperous future for all people.
Instead of continuing to fight the wars of the past, we are fixing our eyes on devoting our resources to the challenges that hold the keys to our collective future: ending this pandemic; addressing the climate crisis; managing the shifts in global power dynamics; shaping the rules of the world on vital issues like trade, cyber, and emerging technologies; and facing the threat of terrorism as it stands today.
end quotes
And today, in this thread, the focus will be on Joe Biden as AUTOCRAT OF THE WORLD writing the rules of the world on vital issues like trade and emerging technologies, which is what this Reuters article we shall be getting back to shortly is all about – Joe Biden writing those rules as if he were in fact the ruler of the world, as opposed to a deluded pretender.
Going back to Joe’s “Remarks by President Biden Before the 76th Session of the United Nations General Assembly” on September 21, 2021 at United Nations Headquarters in New York, New York, Joe went further into his vision of world domination by the United States under his command, as follows:
We will pursue new rules of global trade and economic growth that strive to level the playing field so that it’s not artificially tipped in favor of any one country at the expense of others and every nation has a right and the opportunity to compete fairly.
end quote
ANTI-DOG EAT DOG LEGISLATION, people, from straight out of “Atlas Shrugged” by Ayn Rand who saw Joe Biden coming many, many years ago, and wrote about it in a very misunderstood novel that was a look into the future we are arriving at now.
Joe Biden’s ANTI-DOG-EAT-DOG RULE for the micro-chip industry is the logical result of a mixed economy, one in the process of rejecting capitalism.
And as far as Joe the Autocrat is concerned, when the government has the power to control and regulate private business, it’s in a position to dispense economic favors, and in power politics at the level Joe Biden plays the game, that is what the game is all about, having economic favors to dispense, so to make that happen, Joe is going to dominate weaker countries, whether by force, as he is doing with Russia, or economic coercion, or technological exploitation, as Joe is doing here, or disinformation.
So without further adieu, let us go back to the Reuters article on August 3, 2022 titled “As U.S. eyes new China chip curbs, turmoil looms for global market” by Joyce Lee, where we have further as follows concerning the madness, insanity and chaos the autocrat Joe is about to unleash upon the world, to wit:
In Samsung’s memory chip operation in Xian, central China, one of the largest foreign chip projects in the country, the company has invested a total of about $26 billion since it broke ground on the site in 2012, including chip production as well as testing and packaging.
end quotes
And that is why Joe Biden’s ANTI DOG-EAT-DOG LEGISLATION for the chip industry in America is so vital, because that dog in China is clearly too big, while these dogs in America are too small, which requires Joe Biden to step in and level the playing field which takes us back to Reuters, to wit:
The tech giant makes 128-layer NAND flash products in Xian, analysts said, chips that store data in devices such as smartphones and personal computers, as well as in data centres.
The facility accounts for 43% of Samsung’s global NAND flash memory production capacity and 15% of the overall global output capacity, according to TrendForce late last year.
The U.S. crackdown, if approved, could also complicate SK Hynix’s ambition to expand its presence in the NAND market where it is ranked third as of first quarter behind Samsung and Japan’s Kioxia Holdings, which was spun out of Toshiba Corp.
SK Hynix completed late last year the first phase of its $9 billion purchase of Intel’s NAND business, including its Dalian, China NAND manufacturing facility.
CHINA STRATEGIES
The move being considered by the United States is one of several recent signs of deepening tensions between Beijing and Washington over the tech sector.
Congress last week approved legislation to subsidise semiconductor production in the United States.
It bars any company that receives federal subsidies from investing in certain chip technology in China during the subsidy period.
The deepening tensions could leave Samsung and SK Hynix having to review strategies on China investments, analysts and industry sources said.
“Until now, companies tended to invest in countries like China, where costs were cheap,” said Kim Yang-jae, analyst at Daol Investment & Securities.
“That’s no longer going to be the only consideration.”
“The biggest change these potential limits will bring will be where the next chip factories are built.”
They could also face potentially diminishing returns from their multi-billion dollar China plants, which could be stuck making older-technology, less lucrative chips.
SK Hynix has not been able to upgrade its DRAM memory chip production facilities in Wuxi, China with the latest extreme ultraviolet lithography (EUV) chipmaking machines made by Dutch firm ASML as U.S. officials do not want advanced equipment used in the process to enter the country.
The EUV machines are used to make more advanced and smaller chips that are used in high-end devices such as smartphones.
end quotes
As Joe said in “Remarks by President Biden Before the 76th Session of the United Nations General Assembly” on September 21, 2021 at United Nations Headquarters in New York, New York, as to his vision of world domination by the United States under his command: That’s the idea behind the Build Back Better World.
http://www.capecharlesmirror.com/news/o ... ent-661033
Paul Plante says:
And before we go further here with respect to the chaos the autocrat Joe Biden is getting set to unleash upon the world as part of his “Ultra-MAGA Great Leap Forward” as embodied in Joe’s First Five Year Plan now known to history as “Joe Biden’s America First Plan to Build America Back Better to Make America Great Again,” this as the autocrat Joe continues to grow our economy from the bottom up and middle out for working families all across the country, which is something we should all be for, because it is the right thing to do, and as we continue to follow the science, for today, science is our god and we truly worship it as a deity, it is necessary for all of us to understand and accept the fact that today, at this point of inflection which is really a transition to a new and better age on earth as a result of Joe Biden’s “BUILD BACK BETTER WORLD” Joe told us and the candid world about in his “Remarks by President Biden Before the 76th Session of the United Nations General Assembly” on September 21, 2021 at United Nations Headquarters in New York, New York at 10:01 A.M. EDT, we truly need Joe Biden not only as an autocrat in the United States of America, but more than that, the autocrat of the world, because at this inflection point in history, it is very apparent to everybody that democracy in the United States of America does not work anymore, precisely because democracy requires consensus, which in today’s polarized country, where Joe Biden considers a majority of the citizens to be “DREGS OF SOCIETY,” is not going to happen, so that Joe Biden wasting time trying to muster consensus simply takes too long in this fast-moving world, where Joe Biden intends to win the RACE FOR THE 21st CENTURY, which makes it clear to a blind man that only autocracies today are equipped to meet the extraordinary challenges of modern times, which is why God blessed us with Joe Biden as our autocrat to lead us forth into a grand and glorious future of his making, with Joe Biden’s Washington, D.C. being seen by all the world and us too as a SHINING CITY ON A HILL because it is the CITY OF JOE!
And with that understood and accepted, that Joe Biden is an autocrat because we need him to be, which means we want him to be, which gives him his mandate to be an autocrat blessed by the people whose lives he now rules over, to see the truly global scope of Joe Biden’s vision that leads us forth from the benighted ignorance of the Trump years in America into the light of a brand new day, the first day of the Biden Thousand Year Reich, and in turn brings us to this very moment in time, we need to go back to Joe’s “Remarks by President Biden Before the 76th Session of the United Nations General Assembly” on September 21, 2021 at United Nations Headquarters in New York, New York, where we have the global vision of Joe Biden’s “ULTRA-MAGA GREAT LEAP FORWARD” laid out for us in terms a common person without a JD from Harvard could understand, because in his heart, Joe is a die-hard Union man who knows in his heart the plight of the working classes in America, to wit:
Simply put: We stand, in my view, at an inflection point in history.
And I’m here today to share with you how the United States intends to work with partners and allies to answer these questions and the commitment of my new administration to help lead the world toward a more peaceful, prosperous future for all people.
Instead of continuing to fight the wars of the past, we are fixing our eyes on devoting our resources to the challenges that hold the keys to our collective future: ending this pandemic; addressing the climate crisis; managing the shifts in global power dynamics; shaping the rules of the world on vital issues like trade, cyber, and emerging technologies; and facing the threat of terrorism as it stands today.
end quotes
And today, in this thread, the focus will be on Joe Biden as AUTOCRAT OF THE WORLD writing the rules of the world on vital issues like trade and emerging technologies, which is what this Reuters article we shall be getting back to shortly is all about – Joe Biden writing those rules as if he were in fact the ruler of the world, as opposed to a deluded pretender.
Going back to Joe’s “Remarks by President Biden Before the 76th Session of the United Nations General Assembly” on September 21, 2021 at United Nations Headquarters in New York, New York, Joe went further into his vision of world domination by the United States under his command, as follows:
We will pursue new rules of global trade and economic growth that strive to level the playing field so that it’s not artificially tipped in favor of any one country at the expense of others and every nation has a right and the opportunity to compete fairly.
end quote
ANTI-DOG EAT DOG LEGISLATION, people, from straight out of “Atlas Shrugged” by Ayn Rand who saw Joe Biden coming many, many years ago, and wrote about it in a very misunderstood novel that was a look into the future we are arriving at now.
Joe Biden’s ANTI-DOG-EAT-DOG RULE for the micro-chip industry is the logical result of a mixed economy, one in the process of rejecting capitalism.
And as far as Joe the Autocrat is concerned, when the government has the power to control and regulate private business, it’s in a position to dispense economic favors, and in power politics at the level Joe Biden plays the game, that is what the game is all about, having economic favors to dispense, so to make that happen, Joe is going to dominate weaker countries, whether by force, as he is doing with Russia, or economic coercion, or technological exploitation, as Joe is doing here, or disinformation.
So without further adieu, let us go back to the Reuters article on August 3, 2022 titled “As U.S. eyes new China chip curbs, turmoil looms for global market” by Joyce Lee, where we have further as follows concerning the madness, insanity and chaos the autocrat Joe is about to unleash upon the world, to wit:
In Samsung’s memory chip operation in Xian, central China, one of the largest foreign chip projects in the country, the company has invested a total of about $26 billion since it broke ground on the site in 2012, including chip production as well as testing and packaging.
end quotes
And that is why Joe Biden’s ANTI DOG-EAT-DOG LEGISLATION for the chip industry in America is so vital, because that dog in China is clearly too big, while these dogs in America are too small, which requires Joe Biden to step in and level the playing field which takes us back to Reuters, to wit:
The tech giant makes 128-layer NAND flash products in Xian, analysts said, chips that store data in devices such as smartphones and personal computers, as well as in data centres.
The facility accounts for 43% of Samsung’s global NAND flash memory production capacity and 15% of the overall global output capacity, according to TrendForce late last year.
The U.S. crackdown, if approved, could also complicate SK Hynix’s ambition to expand its presence in the NAND market where it is ranked third as of first quarter behind Samsung and Japan’s Kioxia Holdings, which was spun out of Toshiba Corp.
SK Hynix completed late last year the first phase of its $9 billion purchase of Intel’s NAND business, including its Dalian, China NAND manufacturing facility.
CHINA STRATEGIES
The move being considered by the United States is one of several recent signs of deepening tensions between Beijing and Washington over the tech sector.
Congress last week approved legislation to subsidise semiconductor production in the United States.
It bars any company that receives federal subsidies from investing in certain chip technology in China during the subsidy period.
The deepening tensions could leave Samsung and SK Hynix having to review strategies on China investments, analysts and industry sources said.
“Until now, companies tended to invest in countries like China, where costs were cheap,” said Kim Yang-jae, analyst at Daol Investment & Securities.
“That’s no longer going to be the only consideration.”
“The biggest change these potential limits will bring will be where the next chip factories are built.”
They could also face potentially diminishing returns from their multi-billion dollar China plants, which could be stuck making older-technology, less lucrative chips.
SK Hynix has not been able to upgrade its DRAM memory chip production facilities in Wuxi, China with the latest extreme ultraviolet lithography (EUV) chipmaking machines made by Dutch firm ASML as U.S. officials do not want advanced equipment used in the process to enter the country.
The EUV machines are used to make more advanced and smaller chips that are used in high-end devices such as smartphones.
end quotes
As Joe said in “Remarks by President Biden Before the 76th Session of the United Nations General Assembly” on September 21, 2021 at United Nations Headquarters in New York, New York, as to his vision of world domination by the United States under his command: That’s the idea behind the Build Back Better World.
http://www.capecharlesmirror.com/news/o ... ent-661033
Re: MADNESS AND INSANITY IN A TIME OF JOE BIDEN
THE CAPE CHARLES MIRROR AUGUST 8, 2022 AT 5:15 PM
Paul Plante says:
FIFTH GRADE CIVICS LESSON:
In a Reuters article on August 3, 2022 titled “As U.S. eyes new China chip curbs, turmoil looms for global market” by Joyce Lee, it was stated as follows with respect to the power American autocrat Joe Biden now has over industry not only in America, but in the world, as well, to wit:
SK Hynix has not been able to upgrade its DRAM memory chip production facilities in Wuxi, China with the latest extreme ultraviolet lithography (EUV) chipmaking machines made by Dutch firm ASML as U.S. officials do not want advanced equipment used in the process to enter the country.
end quote
Q: Keeping in mind American president Harry S. Truman’s issuance of Executive Order 10340 to seize control of the steel industries of the United State of America on April 8, 1952. by nationalizing it, which actions were found to be unconstitutional in Youngstown Sheet & Tube Co. et al. v. Sawyer, where does American autocrat Joe Biden today get the authority to tell Dutch firm ASML where it can and cannot sell its products?
A: Like all autocrats going back in time to at least Marius and Sulla in Rome, and coming forward in time though such modern-day autocrats as Hitler, and Stalin and Mussolini and Saddam Hussein and Idi Amin, Joe has grabbed this power out of thin air, as this power can be attained no other way.
Autocrats do not ask permission of those they rule to be an autocrat, nor do they seek permission.
They simply assume the mantle of autocrat, and as we are seeing here, then rule accordingly, finding that in our times today, as was the case in the time of Sallust, only a few prefer liberty, as for the rest, what they seek and crave is a kind master.
http://www.capecharlesmirror.com/news/o ... ent-662055
Paul Plante says:
FIFTH GRADE CIVICS LESSON:
In a Reuters article on August 3, 2022 titled “As U.S. eyes new China chip curbs, turmoil looms for global market” by Joyce Lee, it was stated as follows with respect to the power American autocrat Joe Biden now has over industry not only in America, but in the world, as well, to wit:
SK Hynix has not been able to upgrade its DRAM memory chip production facilities in Wuxi, China with the latest extreme ultraviolet lithography (EUV) chipmaking machines made by Dutch firm ASML as U.S. officials do not want advanced equipment used in the process to enter the country.
end quote
Q: Keeping in mind American president Harry S. Truman’s issuance of Executive Order 10340 to seize control of the steel industries of the United State of America on April 8, 1952. by nationalizing it, which actions were found to be unconstitutional in Youngstown Sheet & Tube Co. et al. v. Sawyer, where does American autocrat Joe Biden today get the authority to tell Dutch firm ASML where it can and cannot sell its products?
A: Like all autocrats going back in time to at least Marius and Sulla in Rome, and coming forward in time though such modern-day autocrats as Hitler, and Stalin and Mussolini and Saddam Hussein and Idi Amin, Joe has grabbed this power out of thin air, as this power can be attained no other way.
Autocrats do not ask permission of those they rule to be an autocrat, nor do they seek permission.
They simply assume the mantle of autocrat, and as we are seeing here, then rule accordingly, finding that in our times today, as was the case in the time of Sallust, only a few prefer liberty, as for the rest, what they seek and crave is a kind master.
http://www.capecharlesmirror.com/news/o ... ent-662055
Re: MADNESS AND INSANITY IN A TIME OF JOE BIDEN
THE CAPE CHARLES MIRROR AUGUST 9, 2022 AT 5:23 PM
Paul Plante says:
And so, as we see by going to a Reuters article titled “Chip and carmaker CEOs meet ahead of Biden signing” by David Shepardson on August 8, 2022, not only does American autocrat Joe Biden get to determine where the next chip factories are to be built in the world, and by whom, but more importantly, for him and the Democrats, who are to be the winners as a result of Joe’s largesse with government money which he now has to lavish on the corporations of his choice as a result of his signing into law a bill known as the Chips and Science Act, which provides more than $200 billion in taxpayer money to boost domestic production of semiconductor computer chips and reduce U.S. reliance on overseas manufacturing of the components that power nearly all facets of modern technology, and as far as Joe the Autocrat is concerned, when the government has the power to control and regulate private business as the autocrat Joe is doing with the chip industry, his government is in a position to dispense economic favors, and in power politics at the level Joe Biden plays the game, that is what the game is all about, having economic favors to dispense, so to make that happen, with his CHIP act signing, Joe is going to dominate weaker countries, whether by force, as he is doing with Russia, or economic coercion, or technological exploitation, as Joe is doing here, or disinformation, to wit:
WASHINGTON, Aug 8 (Reuters) – The heads of chipmakers GlobalFoundries and Applied Materials and carmakers Ford Motor and General Motors Co were to meet at a closed-door summit with U.S. government officials on Monday to discuss administration plans to invest in semiconductors.
end quotes
And of course it had to be to a closed-door summit with U.S. government officials on Monday to discuss administration plans to invest in semiconductors, because we, the people footing the bill, are not supposed to know what the Biden administration is really going to do with that money, and who it is going to, and how much they are getting, and what they have to give back to Joe to get that money, like hey, maybe take on Hunter Biden as a consultant, or something sweet like that, which takes us back to Reuters where we are seeing power politics being played right before our eyes as a pro like Joe Biden plays the game, to wit:
On Tuesday, President Joe Biden will sign legislation to subsidize the U.S. semiconductor industry and boost efforts to make the United States more competitive with China.
The bill provides $52 billion in subsidies for chip manufacturing and research.
It also includes an investment tax credit for chip plants estimated to be worth $24 billion.
end quotes
So, with a flourish of his pen Joe has awarded himself some serious money to play the power game with, which takes us back to Reuters for more, as follows:
The companies said the summit would bring them together with government officials to “discuss how these public investments can accelerate semiconductor and emerging technology manufacturing, support the electrification of automobiles with a ready supply of chips, including feature-rich chips, and strengthen the United States’ economy, supply chains, and national security.”
White House National Economic Council Director Brian Deese, Under Secretary of Defense for Acquisition William LaPlante and National Security Council official Tarun Chhabra were among officials due to attend.
end quotes
But since it is secret, we cannot know what was said, and what was promised and to whom, by whom, probably because we are deemed too stupid to know, and too unimportant as to have a need to know.
It is POWER POLITICS, afterall, and in POWER POLITICS the way Joe Biden plays the game, what the people do not know cannot come back around to hurt him, and hey, who can argue with him on that!
http://www.capecharlesmirror.com/news/o ... ent-662904
Paul Plante says:
And so, as we see by going to a Reuters article titled “Chip and carmaker CEOs meet ahead of Biden signing” by David Shepardson on August 8, 2022, not only does American autocrat Joe Biden get to determine where the next chip factories are to be built in the world, and by whom, but more importantly, for him and the Democrats, who are to be the winners as a result of Joe’s largesse with government money which he now has to lavish on the corporations of his choice as a result of his signing into law a bill known as the Chips and Science Act, which provides more than $200 billion in taxpayer money to boost domestic production of semiconductor computer chips and reduce U.S. reliance on overseas manufacturing of the components that power nearly all facets of modern technology, and as far as Joe the Autocrat is concerned, when the government has the power to control and regulate private business as the autocrat Joe is doing with the chip industry, his government is in a position to dispense economic favors, and in power politics at the level Joe Biden plays the game, that is what the game is all about, having economic favors to dispense, so to make that happen, with his CHIP act signing, Joe is going to dominate weaker countries, whether by force, as he is doing with Russia, or economic coercion, or technological exploitation, as Joe is doing here, or disinformation, to wit:
WASHINGTON, Aug 8 (Reuters) – The heads of chipmakers GlobalFoundries and Applied Materials and carmakers Ford Motor and General Motors Co were to meet at a closed-door summit with U.S. government officials on Monday to discuss administration plans to invest in semiconductors.
end quotes
And of course it had to be to a closed-door summit with U.S. government officials on Monday to discuss administration plans to invest in semiconductors, because we, the people footing the bill, are not supposed to know what the Biden administration is really going to do with that money, and who it is going to, and how much they are getting, and what they have to give back to Joe to get that money, like hey, maybe take on Hunter Biden as a consultant, or something sweet like that, which takes us back to Reuters where we are seeing power politics being played right before our eyes as a pro like Joe Biden plays the game, to wit:
On Tuesday, President Joe Biden will sign legislation to subsidize the U.S. semiconductor industry and boost efforts to make the United States more competitive with China.
The bill provides $52 billion in subsidies for chip manufacturing and research.
It also includes an investment tax credit for chip plants estimated to be worth $24 billion.
end quotes
So, with a flourish of his pen Joe has awarded himself some serious money to play the power game with, which takes us back to Reuters for more, as follows:
The companies said the summit would bring them together with government officials to “discuss how these public investments can accelerate semiconductor and emerging technology manufacturing, support the electrification of automobiles with a ready supply of chips, including feature-rich chips, and strengthen the United States’ economy, supply chains, and national security.”
White House National Economic Council Director Brian Deese, Under Secretary of Defense for Acquisition William LaPlante and National Security Council official Tarun Chhabra were among officials due to attend.
end quotes
But since it is secret, we cannot know what was said, and what was promised and to whom, by whom, probably because we are deemed too stupid to know, and too unimportant as to have a need to know.
It is POWER POLITICS, afterall, and in POWER POLITICS the way Joe Biden plays the game, what the people do not know cannot come back around to hurt him, and hey, who can argue with him on that!
http://www.capecharlesmirror.com/news/o ... ent-662904
Re: MADNESS AND INSANITY IN A TIME OF JOE BIDEN
THE CAPE CHARLES MIRROR AUGUST 10, 2022 AT 5:06 PM
Paul Plante says:
And before we go further in here with respect to the chaos the autocrat Joe Biden is getting set to unleash upon the world as part of his “Ultra-MAGA Great Leap Forward” as embodied in Joe’s First Five Year Plan now known to history as “Joe Biden’s America First Plan to Build America Back Better to Make America Great Again,” this as the autocrat Joe continues to grow our economy from the bottom up by hosing the lowest on the totem pole with high inflation to feed the desires of the middle class who own the businesses doing the gouging, which is growing the economy from the middle out for working families all across the country, which is something we should all be for, because it is the right thing to do, to see the madness and insanity baked into Joe Biden’s First Five Year Plan known as “Joe Biden’s ULTRA-MAGA GREAT LEAP FORWARD,” all we need do is go to a Reuters article titled “Nasdaq closes lower as chipmaker Micron’s warning renews tech rout” by Herbert Lash and Bansari Mayur Kamdar on August 9, 2022, where we have reality in the world we all live in, which reality is far, far different from the version of reality that exists in the mind of Joe Biden, as we shall see by dropping back in time to May 2, 2021 and a Cape Charles Mirror thread titled “Op-Ed: Thoughts on Incipient Bidenism in America Today” http://www.capecharlesmirror.com/news/o ... ent-353588 but first, Reuters and operative reality outside of Joe Biden’s mind and Washington, D.C., as it is happening, to wit:
NEW YORK, Aug 9 (Reuters) – The Nasdaq closed down on Tuesday after a dismal forecast from Micron Technology pulled chip makers and tech stocks lower as investors await U.S. inflation data that could lead the Federal Reserve to further tighten its efforts to curb inflation.
Micron Technology Inc slid 3.7% after the memory-chipmaker cut its current-quarter revenue forecast and warned of negative free cash flow in its next quarter as demand wanes for chips in PCs and smartphones.
Micron’s dismal forecast, a day after Nvidia Corp warned of weakness in its gaming business, knocked the Philadelphia Semiconductor index down 4.57%, its biggest single-day decline since June 16 as all 30 components fell.
The index has lost 7% the past three days.
President Joe Biden signed a sweeping bill to provide $52.7 billion in subsidies for U.S. semiconductor production and research, a measure that gained bipartisan support to combat China’s investment in technology.
“It’s utterly discounted,” said Michael Shaoul, chief executive officer at Marketfield, on why chip stocks were unfazed by the bill.
end quotes
That people is what is called BIDEN-O-NOMICS, which is to take gobs of taxpayer dollars and plunge them into adding supply in a time of diminishing demand, and that in turn takes us back to May 2, 2021, and the Cape Charles Mirror thread titled “Op-Ed: Thoughts on Incipient Bidenism in America Today,” where we will clearly see that Joe Biden’s lack of judgment with respect to spending taxpayer dollars on BOONDOGGLES (waste money or time on unnecessary or questionable projects) is nothing new.
That thread started out as follows, to wit:
When I and Joe Biden both were young, assuming Joe Biden ever actually really was, young, I mean, which is not at all a given, Joe being who Joe is, a distinctly God-like being separate and apart from us mere mortals who may well have been born looking just the way he does today, white as a ghost from how pure he is in an otherworldly way, as if he came from elsewhere in the galaxy or universe and wasn’t really one of us, at all, a relevant subject we young Americans studied was known as “Stalinism,” which was the ideology and policies adopted by Stalin, based on centralization, totalitarianism, and the pursuit of communism.
Today, in our times, now that the JANUARY REVOLUTION is over and our Republic has been overthrown, and the Marxist Dictatorship of the Proletariat has been established in its place at the national level here in the United States of America with the ascension of the God-like Joe Biden into the oval office, God Help the nation, we are seeing the beginning of “Bidenism,” which like Stalinism before it, is based on based on centralization, totalitarianism, and the pursuit of communism through socialism.
end quotes
And from there, we go to THE CAPE CHARLES MIRROR MAY 18, 2021 AT 9:12 PM, where we have as follows, which this is all a repeat of:
Chaos is coming, people, and its name is Joe Biden!
And to flesh that thought out a bit more, let us first go back to the full transcript from President Joe Biden’s address to a joint session of Congress on 28 April 2021, where we have Joe blathering away about things he doesn’t know about and doesn’t understand, to wit:
Tonight, I come to talk about crisis — and opportunity.
About rebuilding our nation — and revitalizing our democracy.
And winning the future for America.
end quotes
Yes, people, sing hallelujah and say amen, because we are saved – Joe Biden is here and he is going to win the future for America, because of how much our Joe loves us, which takes us back to that transcript as follows:
For me, when I think about climate change, I think jobs.
Electrical workers installing 500,000 charging stations along our highways.
end quotes
Keeping that thought in mind about those 500,000 charging stations Joe Biden is going to install all across America, because that thought is essential to understanding the brick wall Joe Biden is going to slam us into face first, let us next go to a story in The Hill entitled “Governors pressure Biden to nationally phase out gas, diesel cars – A dozen states are calling on the president to phase in zero-emission vehicles” by Christian Spencer on April 30, 2021, where we learn further about the future Joe Biden is going to create, as follows:
Governors from across the country are calling on President Biden to take federal action to ensure that all new cars and trucks sold are zero-emission by no later than 2035.
The Biden administration could set vehicle admission standards under the Clean Air Act that only the electric cars could meet, The Guardian reports.
Biden already shares the same sentiment with the governors.
“[There’s] no reason why American workers can’t lead the world in the production of electric vehicles and batteries,” the president said.
Biden’s plans on ushering in new innovative ways to expand renewable energy and electric vehicles, which he promises will bring in millions of new jobs.
end quotes
And that then takes us to a CBS News story entitled “Biden says ‘the future of the auto industry is electric’ at Ford plant” by Kathryn Watson on May 18, 2021, to wit:
Dearborn, Michigan — President Biden traveled Tuesday to Dearborn, Michigan, to visit Ford’s electric vehicle plant as his administration continues to push for alternative forms of energy and transportation.
“The future of the auto industry is electric.”
“There’s no turning back,” Mr. Biden said in remarks from the auto plant, known as the Ford Rouge Electric Vehicle Center.
end quotes
And in one of those cosmic confluences of events associated with the Cape Charles Mirror, that thought brings me back to the Speech to 20th Congress of the C.P.S.U. of Nikita Khrushchev on February 24-25, 1956, as follows:
You see what Stalin’s mania for greatness led to.
He completely lost consciousness of reality.
end quotes
Getting back to that story, it continues, thusly:
Mr. Biden has aligned himself with unions, and is pushing his multi-trillion-dollar infrastructure package, known as the American Jobs Plan.
“Right now, China is leading in this race, make no bones about it,” Mr. Biden said about the production of electric vehicles.
“They will not win this race.”
“We can’t let them.”
Mr. Biden denounced the Trump administration for not focusing enough on development of electric vehicles, or on shoring up the nation’s infrastructure.
“They announced infrastructure week!” Mr. Biden said.
“And they announced it, and announced it, and announced it, and announced it — every week for four years.”
“Didn’t do a damn thing.”
“They didn’t get the job done.”
In a fact sheet released Tuesday morning, the White House said the president’s American Jobs Plan would “accelerate our domestic EV industry by driving demand for advanced cars and trucks, reinvigorating our automotive sector and battery manufacturing, deploying a national network of chargers, and advancing our innovation capacity for the next generation of technology.”
end quotes
And with that as necessary background, before proceeding with the analysis, let me pause here for that to all sink in, and let me leave you with this thought – how long does it take to refill an electric car?
And haven’t we been here before with Joe Biden?
Anyone recall the name Fisker?
Does anyone recall that in 2009, the Obama-Biden administration agreed to pump $500 million of taxpayer stimulus cash into a foreign automotive company, Fisker, to make cars in the vice president’s home state of Delaware?
And when their green-energy boondoggle went belly up, zero cars had been manufactured in the United States — despite the hefty cost footed by America.
Fisker was awarded $528 million in federal loans to build luxurious looking, environmentally friendly automobiles in America — despite having never sold a car.
The grant was given by the Department of Energy and celebrated by Secretary Steven Chu who declared that thousands of jobs would be created.
And interestingly, bankruptcy documents related to the Fisker failure curiously listed Joe Biden’s son, Hunter, as a creditor to the automaker.
Fisker was later purchased at auction by Wanxiang, a Chinese conglomerate, after being “enticed” by Fisker creditors.
Wanxiang also has ties to Hunter Biden: The foreign company had invested $1.25 billion into a different company that was a client of Seneca Advisors, Hunter’s consulting firm.
Wheels within wheels, people!
So who will benefit from this latest Biden BOONDOGGLE?
Hunter Biden?
http://www.capecharlesmirror.com/news/o ... ent-663823
Paul Plante says:
And before we go further in here with respect to the chaos the autocrat Joe Biden is getting set to unleash upon the world as part of his “Ultra-MAGA Great Leap Forward” as embodied in Joe’s First Five Year Plan now known to history as “Joe Biden’s America First Plan to Build America Back Better to Make America Great Again,” this as the autocrat Joe continues to grow our economy from the bottom up by hosing the lowest on the totem pole with high inflation to feed the desires of the middle class who own the businesses doing the gouging, which is growing the economy from the middle out for working families all across the country, which is something we should all be for, because it is the right thing to do, to see the madness and insanity baked into Joe Biden’s First Five Year Plan known as “Joe Biden’s ULTRA-MAGA GREAT LEAP FORWARD,” all we need do is go to a Reuters article titled “Nasdaq closes lower as chipmaker Micron’s warning renews tech rout” by Herbert Lash and Bansari Mayur Kamdar on August 9, 2022, where we have reality in the world we all live in, which reality is far, far different from the version of reality that exists in the mind of Joe Biden, as we shall see by dropping back in time to May 2, 2021 and a Cape Charles Mirror thread titled “Op-Ed: Thoughts on Incipient Bidenism in America Today” http://www.capecharlesmirror.com/news/o ... ent-353588 but first, Reuters and operative reality outside of Joe Biden’s mind and Washington, D.C., as it is happening, to wit:
NEW YORK, Aug 9 (Reuters) – The Nasdaq closed down on Tuesday after a dismal forecast from Micron Technology pulled chip makers and tech stocks lower as investors await U.S. inflation data that could lead the Federal Reserve to further tighten its efforts to curb inflation.
Micron Technology Inc slid 3.7% after the memory-chipmaker cut its current-quarter revenue forecast and warned of negative free cash flow in its next quarter as demand wanes for chips in PCs and smartphones.
Micron’s dismal forecast, a day after Nvidia Corp warned of weakness in its gaming business, knocked the Philadelphia Semiconductor index down 4.57%, its biggest single-day decline since June 16 as all 30 components fell.
The index has lost 7% the past three days.
President Joe Biden signed a sweeping bill to provide $52.7 billion in subsidies for U.S. semiconductor production and research, a measure that gained bipartisan support to combat China’s investment in technology.
“It’s utterly discounted,” said Michael Shaoul, chief executive officer at Marketfield, on why chip stocks were unfazed by the bill.
end quotes
That people is what is called BIDEN-O-NOMICS, which is to take gobs of taxpayer dollars and plunge them into adding supply in a time of diminishing demand, and that in turn takes us back to May 2, 2021, and the Cape Charles Mirror thread titled “Op-Ed: Thoughts on Incipient Bidenism in America Today,” where we will clearly see that Joe Biden’s lack of judgment with respect to spending taxpayer dollars on BOONDOGGLES (waste money or time on unnecessary or questionable projects) is nothing new.
That thread started out as follows, to wit:
When I and Joe Biden both were young, assuming Joe Biden ever actually really was, young, I mean, which is not at all a given, Joe being who Joe is, a distinctly God-like being separate and apart from us mere mortals who may well have been born looking just the way he does today, white as a ghost from how pure he is in an otherworldly way, as if he came from elsewhere in the galaxy or universe and wasn’t really one of us, at all, a relevant subject we young Americans studied was known as “Stalinism,” which was the ideology and policies adopted by Stalin, based on centralization, totalitarianism, and the pursuit of communism.
Today, in our times, now that the JANUARY REVOLUTION is over and our Republic has been overthrown, and the Marxist Dictatorship of the Proletariat has been established in its place at the national level here in the United States of America with the ascension of the God-like Joe Biden into the oval office, God Help the nation, we are seeing the beginning of “Bidenism,” which like Stalinism before it, is based on based on centralization, totalitarianism, and the pursuit of communism through socialism.
end quotes
And from there, we go to THE CAPE CHARLES MIRROR MAY 18, 2021 AT 9:12 PM, where we have as follows, which this is all a repeat of:
Chaos is coming, people, and its name is Joe Biden!
And to flesh that thought out a bit more, let us first go back to the full transcript from President Joe Biden’s address to a joint session of Congress on 28 April 2021, where we have Joe blathering away about things he doesn’t know about and doesn’t understand, to wit:
Tonight, I come to talk about crisis — and opportunity.
About rebuilding our nation — and revitalizing our democracy.
And winning the future for America.
end quotes
Yes, people, sing hallelujah and say amen, because we are saved – Joe Biden is here and he is going to win the future for America, because of how much our Joe loves us, which takes us back to that transcript as follows:
For me, when I think about climate change, I think jobs.
Electrical workers installing 500,000 charging stations along our highways.
end quotes
Keeping that thought in mind about those 500,000 charging stations Joe Biden is going to install all across America, because that thought is essential to understanding the brick wall Joe Biden is going to slam us into face first, let us next go to a story in The Hill entitled “Governors pressure Biden to nationally phase out gas, diesel cars – A dozen states are calling on the president to phase in zero-emission vehicles” by Christian Spencer on April 30, 2021, where we learn further about the future Joe Biden is going to create, as follows:
Governors from across the country are calling on President Biden to take federal action to ensure that all new cars and trucks sold are zero-emission by no later than 2035.
The Biden administration could set vehicle admission standards under the Clean Air Act that only the electric cars could meet, The Guardian reports.
Biden already shares the same sentiment with the governors.
“[There’s] no reason why American workers can’t lead the world in the production of electric vehicles and batteries,” the president said.
Biden’s plans on ushering in new innovative ways to expand renewable energy and electric vehicles, which he promises will bring in millions of new jobs.
end quotes
And that then takes us to a CBS News story entitled “Biden says ‘the future of the auto industry is electric’ at Ford plant” by Kathryn Watson on May 18, 2021, to wit:
Dearborn, Michigan — President Biden traveled Tuesday to Dearborn, Michigan, to visit Ford’s electric vehicle plant as his administration continues to push for alternative forms of energy and transportation.
“The future of the auto industry is electric.”
“There’s no turning back,” Mr. Biden said in remarks from the auto plant, known as the Ford Rouge Electric Vehicle Center.
end quotes
And in one of those cosmic confluences of events associated with the Cape Charles Mirror, that thought brings me back to the Speech to 20th Congress of the C.P.S.U. of Nikita Khrushchev on February 24-25, 1956, as follows:
You see what Stalin’s mania for greatness led to.
He completely lost consciousness of reality.
end quotes
Getting back to that story, it continues, thusly:
Mr. Biden has aligned himself with unions, and is pushing his multi-trillion-dollar infrastructure package, known as the American Jobs Plan.
“Right now, China is leading in this race, make no bones about it,” Mr. Biden said about the production of electric vehicles.
“They will not win this race.”
“We can’t let them.”
Mr. Biden denounced the Trump administration for not focusing enough on development of electric vehicles, or on shoring up the nation’s infrastructure.
“They announced infrastructure week!” Mr. Biden said.
“And they announced it, and announced it, and announced it, and announced it — every week for four years.”
“Didn’t do a damn thing.”
“They didn’t get the job done.”
In a fact sheet released Tuesday morning, the White House said the president’s American Jobs Plan would “accelerate our domestic EV industry by driving demand for advanced cars and trucks, reinvigorating our automotive sector and battery manufacturing, deploying a national network of chargers, and advancing our innovation capacity for the next generation of technology.”
end quotes
And with that as necessary background, before proceeding with the analysis, let me pause here for that to all sink in, and let me leave you with this thought – how long does it take to refill an electric car?
And haven’t we been here before with Joe Biden?
Anyone recall the name Fisker?
Does anyone recall that in 2009, the Obama-Biden administration agreed to pump $500 million of taxpayer stimulus cash into a foreign automotive company, Fisker, to make cars in the vice president’s home state of Delaware?
And when their green-energy boondoggle went belly up, zero cars had been manufactured in the United States — despite the hefty cost footed by America.
Fisker was awarded $528 million in federal loans to build luxurious looking, environmentally friendly automobiles in America — despite having never sold a car.
The grant was given by the Department of Energy and celebrated by Secretary Steven Chu who declared that thousands of jobs would be created.
And interestingly, bankruptcy documents related to the Fisker failure curiously listed Joe Biden’s son, Hunter, as a creditor to the automaker.
Fisker was later purchased at auction by Wanxiang, a Chinese conglomerate, after being “enticed” by Fisker creditors.
Wanxiang also has ties to Hunter Biden: The foreign company had invested $1.25 billion into a different company that was a client of Seneca Advisors, Hunter’s consulting firm.
Wheels within wheels, people!
So who will benefit from this latest Biden BOONDOGGLE?
Hunter Biden?
http://www.capecharlesmirror.com/news/o ... ent-663823
Re: MADNESS AND INSANITY IN A TIME OF JOE BIDEN
THE CAPE CHARLES MIRROR AUGUST 11, 2022 AT 4:11 PM
Paul Plante says:
As we older people in America with working memories well recall, Joe Biden has an execrable record when it comes to being responsible for how public money, OUR money, is spent, as we see from that reference to Fisker above, and like the rabbit who is always being pulled out of a hat by a magician, Hunter Biden once again turns up in one of Joe's failed ventures.
But before we document that part of the story further, because it needs to be documented in here, where Joe’s reckless expenditure of $52.7 billion of taxpayer money on BIDEN-ESQUE “GREEN DREAM” PIE-IN-THE-SKY PROJECTS today, like was the case with Fisker and Solyndra when he was Hussein Obama’s executive deputy president, is what is as issue, Joe’s irresponsibility with public funds, let’s stay in the present moment for a moment longer with respect to the chaos the autocrat Joe Biden is getting set to unleash upon the world as part of his “Ultra-MAGA Great Leap Forward” as embodied in Joe’s First Five Year Plan now known to history as “Joe Biden’s America First Plan to Build America Back Better to Make America Great Again,” to see more of the madness and insanity baked into Joe Biden’s First Five Year Plan known as “Joe Biden’s ULTRA-MAGA GREAT LEAP FORWARD,” by going to a Reuters article titled “Micron’s warning of weak demand rattles chip stocks” by Chavi Mehta on August 9, 2022, where we again have reality in the world we all live in, which reality is far, far different from the version of reality that exists in the mind of Joe Biden, as follows:
Aug 9 (Reuters) – Micron Technology cut its current-quarter revenue forecast on Tuesday and warned of a negative free cash flow in the coming three months as customer inventories pile up amid waning demand for chips used in PCs and smartphones.
end quotes
So what does somebody really, really smart and a real gosh-darn genuine expert on fiscal matters and economics like Joe Biden, who in his own words in his “Remarks by President Biden at Signing of H.R. 4346, ‘The CHIPS and Science Act of 2022’” on August 9, 2022 on the South Lawn of the white house told the people of America and the people of the world who dote on Joe and listen to his every word, as if they come through Joe from on high, told everybody he has always believed that America is the only nation in the world, and Joe believes this with every fiber of his being, the only nation in the world that can be defined, as Joe told Xi Jinping several years ago, by a single word, that being when the Chinese dude asked our Joe to define America for him when Joe was in China and the Chinese dude and Joe were alone on the Tibetan Plateau, and then did it by saying, “I can do it in one word, and I mean it: possibilities; in America, everything is possible; we believe every and anything is possible; it’s part of the soul of this country; I mean, it really is” do when a big chip company like Micron Technology cuts its current-quarter revenue forecast and warns of a negative free cash flow in the coming three months as customer inventories pile up amid waning demand for chips used in PCs and smartphones?
If you said, FLOOD THE MARKET WITH MORE CHIPS, you, too are a rocket scientist in economics like Joe Biden, which takes us back to Reuters for more of the reality that Joe Biden is unaware of because it is happening outside of the bubble of unreality he lives in where everything is possible and all Joe has to do is snap his fingers and it will happen, because it has to happen, because Joe is the president who makes things happen, so it better happen, or else, to wit:
The dismal forecast comes a day after Nvidia warned of weakness in its gaming business, accentuating fears of the first chip industry downturn since 2019.
That sent Micron’s shares and the Philadelphia SE Semiconductor index down 5.7% and 4.3%, as investors looked past U.S. President Joe Biden signing a landmark bill for $52.7 billion in subsidies for semiconductor production and research.
Micron, which last reported negative free cash flow in 2020 during the early days of the pandemic, warned it could see significant sequential declines in revenue and margins in its first quarter due to a fall in shipments.
Surging prices have forced consumers to curb their spending on electronic gadgets, prompting production revaluations at companies sitting on excess inventory of chips and other components in anticipation of strong post-pandemic demand.
Shipments of PCs are expected to drop 9.5% this year, according to IT research firm Gartner.
That, and cooling demand for smartphones, has drawn demand-related warnings from Micron and others including Intel, Advanced Micro Devices, Qualcomm) and Nvidia Corp.
Micron is seeing cloud, industrial and automotive customers also make “inventory adjustments” due to macro uncertainty, finance chief Mark Murphy said at the Keybanc Technology Leadership forum on Tuesday.
“It’s a challenging setup for this quarter.”
end quotes
Not, however, in the mind of Joe Biden, which takes us to Hunter Biden, in an investigative article by the Investigative Research Center titled “Hunter Biden Listed as Fisker Creditor, Raising Questions About Green Energy Boondoggle” by IRC Staff on June 2, 2020, where we have some necessary background history concerning Joe Biden’s fiscal irresponsibility with OUR tax dollars, to wit:
In 2009, the Obama-Biden administration agreed to pump $500 million of taxpayer stimulus cash into a foreign automotive company, Fisker, to make cars in the vice president’s home state of Delaware.
When their green-energy boondoggle went belly up, zero cars had been manufactured in the United States — despite the hefty cost footed by America.
end quotes
That was then, and now that Joe is back in power again, the same thing is happening now, all over again, which takes us back to that story, as follows:
The intricacies of the deal are tangled.
Bankruptcy documents related to the Fisker failure curiously listed Joe Biden’s son, Hunter, as a creditor to the automaker.
Fisker was later purchased at auction by Wanxiang, a Chinese conglomerate, after being “enticed” by Fisker creditors.
Wanxiang also has ties to Hunter Biden: The foreign company had invested $1.25 billion into a different company that was a client of Seneca Advisors, Hunter’s consulting firm.
Fisker was awarded $528 million in federal loans to build luxurious looking, environmentally friendly automobiles in America — despite having never sold a car.
The grant was given by the Department of Energy and celebrated by Secretary Steven Chu who declared that thousands of jobs would be created.
It has been written that Fisker’s overall marketing strategy “call[ed] out to an untapped market: moneyed Hollywood vegans, of which there plenty.”
Fiscal watchdogs were alarmed by the Obama-Biden administration’s expenditure.
One warned at the time: “This is not for average Americans.”
“This is for people to put something in their driveway that is a conversation piece.”
“It’s status symbol thing.”
end quotes
And think on those words, people, as we consider the “GREEN DREAM” PIE-IN-THE-SKY blather of Joe Biden today with respect to what his “CHIPS ACT” is supposed to accomplish today – fiscal watchdogs were alarmed by the Obama-Biden administration’s expenditure, with one warning at the time: “This is not for average Americans, this is for people to put something in their driveway that is a conversation piece, it’s status symbol thing.”
Recklessness with taxpayer dollars by Joe Biden, plain and simple, and now he is back in power to do it all over again, which takes us back to Fisker and Hunter and Joe, to wit:
The Fisker strategy also relied on large-scale government investment, which was made easier by having strong political connections.
Fisker was backed by former Vice President Al Gore and venture capitalist John Doerr, a “big-ticket” Obama donor and now a major contributor to Joe Biden’s 2020 campaign.
end quotes
And how about that, now will you, people – look where Joe is getting his money from!
Getting back to that story, it goes on as follows, and provides us with a template and game plan for what Joe intends to do with our taxpayer dollars today, to wit:
In February 2009, Doerr had been appointed by the Obama-Biden administration to sit on an economic recovery board.
His firm, Kleiner Perkins, managed a $100 million tech fund.
CNET reported of his appointment: “Not-so-coincidentally, Doerr has lobbied for laws at the state level – and, more recently, as part of the ‘stimulus’ proposal – that would benefit his portfolio by moving toward smart grid, solar, and other technology.”
Fisker had private clout, and soon would secure taxpayer cash.
A Biden staffer told the Wall Street Journal that he made “no direct appeals” to the agency prior to the loan’s approval.
That claim from December 2009 seems suspect based on the paper’s chronicling of events.
Delaware’s Chief of Economic Development dubbed Biden a “secret weapon” in securing federal support.
Before ruling on the loan, Department of Energy leadership was “peppered” by elected officials in the state and had “repeated discussions with Vice President Biden and his staff.”
When Secretary Chu ran into Biden at an event, he reportedly told him, “I know, I know – Fisker.”
The loan was approved five days after that conversation.
Fisker chose a shuttered factory in Delaware located 3,000 miles away from the company’s headquarters.
High Gear Media notes other disadvantages besides geography: “(It) needed expensive retooling, was far too large for the task at hand, and was ostensibly more expensive to retrofit than some other ‘old GM’ properties, such as Doraville.”
However, the selected destination had some political advantages: It was just a few miles from Biden’s house and “across the tracks from Biden Park.”
The vice president was so excited that he “inadvertently divulged” Fisker’s product plan during a speech to union members.
A press release heralded a “new chapter” for the American auto industry which he believed would help our country “reclaim its top position in the global market.”
Given that the taxpayers were funding this venture backed by his political allies, Biden sought to assure the nation that his investment was wise: “This is seed money that will return back to the American consumer in billions and billions and billions of dollars in good, new jobs.”
end quotes
And let’s leave off there for a moment as we pause for station identification so you can get to the fridge for some necessary munchies, and when we return, it will be to hear the following from the authors of that investigative report, so stay tuned:
“But not everything went according to Biden’s ‘roadmap.’”
http://www.capecharlesmirror.com/news/o ... ent-663823
Paul Plante says:
As we older people in America with working memories well recall, Joe Biden has an execrable record when it comes to being responsible for how public money, OUR money, is spent, as we see from that reference to Fisker above, and like the rabbit who is always being pulled out of a hat by a magician, Hunter Biden once again turns up in one of Joe's failed ventures.
But before we document that part of the story further, because it needs to be documented in here, where Joe’s reckless expenditure of $52.7 billion of taxpayer money on BIDEN-ESQUE “GREEN DREAM” PIE-IN-THE-SKY PROJECTS today, like was the case with Fisker and Solyndra when he was Hussein Obama’s executive deputy president, is what is as issue, Joe’s irresponsibility with public funds, let’s stay in the present moment for a moment longer with respect to the chaos the autocrat Joe Biden is getting set to unleash upon the world as part of his “Ultra-MAGA Great Leap Forward” as embodied in Joe’s First Five Year Plan now known to history as “Joe Biden’s America First Plan to Build America Back Better to Make America Great Again,” to see more of the madness and insanity baked into Joe Biden’s First Five Year Plan known as “Joe Biden’s ULTRA-MAGA GREAT LEAP FORWARD,” by going to a Reuters article titled “Micron’s warning of weak demand rattles chip stocks” by Chavi Mehta on August 9, 2022, where we again have reality in the world we all live in, which reality is far, far different from the version of reality that exists in the mind of Joe Biden, as follows:
Aug 9 (Reuters) – Micron Technology cut its current-quarter revenue forecast on Tuesday and warned of a negative free cash flow in the coming three months as customer inventories pile up amid waning demand for chips used in PCs and smartphones.
end quotes
So what does somebody really, really smart and a real gosh-darn genuine expert on fiscal matters and economics like Joe Biden, who in his own words in his “Remarks by President Biden at Signing of H.R. 4346, ‘The CHIPS and Science Act of 2022’” on August 9, 2022 on the South Lawn of the white house told the people of America and the people of the world who dote on Joe and listen to his every word, as if they come through Joe from on high, told everybody he has always believed that America is the only nation in the world, and Joe believes this with every fiber of his being, the only nation in the world that can be defined, as Joe told Xi Jinping several years ago, by a single word, that being when the Chinese dude asked our Joe to define America for him when Joe was in China and the Chinese dude and Joe were alone on the Tibetan Plateau, and then did it by saying, “I can do it in one word, and I mean it: possibilities; in America, everything is possible; we believe every and anything is possible; it’s part of the soul of this country; I mean, it really is” do when a big chip company like Micron Technology cuts its current-quarter revenue forecast and warns of a negative free cash flow in the coming three months as customer inventories pile up amid waning demand for chips used in PCs and smartphones?
If you said, FLOOD THE MARKET WITH MORE CHIPS, you, too are a rocket scientist in economics like Joe Biden, which takes us back to Reuters for more of the reality that Joe Biden is unaware of because it is happening outside of the bubble of unreality he lives in where everything is possible and all Joe has to do is snap his fingers and it will happen, because it has to happen, because Joe is the president who makes things happen, so it better happen, or else, to wit:
The dismal forecast comes a day after Nvidia warned of weakness in its gaming business, accentuating fears of the first chip industry downturn since 2019.
That sent Micron’s shares and the Philadelphia SE Semiconductor index down 5.7% and 4.3%, as investors looked past U.S. President Joe Biden signing a landmark bill for $52.7 billion in subsidies for semiconductor production and research.
Micron, which last reported negative free cash flow in 2020 during the early days of the pandemic, warned it could see significant sequential declines in revenue and margins in its first quarter due to a fall in shipments.
Surging prices have forced consumers to curb their spending on electronic gadgets, prompting production revaluations at companies sitting on excess inventory of chips and other components in anticipation of strong post-pandemic demand.
Shipments of PCs are expected to drop 9.5% this year, according to IT research firm Gartner.
That, and cooling demand for smartphones, has drawn demand-related warnings from Micron and others including Intel, Advanced Micro Devices, Qualcomm) and Nvidia Corp.
Micron is seeing cloud, industrial and automotive customers also make “inventory adjustments” due to macro uncertainty, finance chief Mark Murphy said at the Keybanc Technology Leadership forum on Tuesday.
“It’s a challenging setup for this quarter.”
end quotes
Not, however, in the mind of Joe Biden, which takes us to Hunter Biden, in an investigative article by the Investigative Research Center titled “Hunter Biden Listed as Fisker Creditor, Raising Questions About Green Energy Boondoggle” by IRC Staff on June 2, 2020, where we have some necessary background history concerning Joe Biden’s fiscal irresponsibility with OUR tax dollars, to wit:
In 2009, the Obama-Biden administration agreed to pump $500 million of taxpayer stimulus cash into a foreign automotive company, Fisker, to make cars in the vice president’s home state of Delaware.
When their green-energy boondoggle went belly up, zero cars had been manufactured in the United States — despite the hefty cost footed by America.
end quotes
That was then, and now that Joe is back in power again, the same thing is happening now, all over again, which takes us back to that story, as follows:
The intricacies of the deal are tangled.
Bankruptcy documents related to the Fisker failure curiously listed Joe Biden’s son, Hunter, as a creditor to the automaker.
Fisker was later purchased at auction by Wanxiang, a Chinese conglomerate, after being “enticed” by Fisker creditors.
Wanxiang also has ties to Hunter Biden: The foreign company had invested $1.25 billion into a different company that was a client of Seneca Advisors, Hunter’s consulting firm.
Fisker was awarded $528 million in federal loans to build luxurious looking, environmentally friendly automobiles in America — despite having never sold a car.
The grant was given by the Department of Energy and celebrated by Secretary Steven Chu who declared that thousands of jobs would be created.
It has been written that Fisker’s overall marketing strategy “call[ed] out to an untapped market: moneyed Hollywood vegans, of which there plenty.”
Fiscal watchdogs were alarmed by the Obama-Biden administration’s expenditure.
One warned at the time: “This is not for average Americans.”
“This is for people to put something in their driveway that is a conversation piece.”
“It’s status symbol thing.”
end quotes
And think on those words, people, as we consider the “GREEN DREAM” PIE-IN-THE-SKY blather of Joe Biden today with respect to what his “CHIPS ACT” is supposed to accomplish today – fiscal watchdogs were alarmed by the Obama-Biden administration’s expenditure, with one warning at the time: “This is not for average Americans, this is for people to put something in their driveway that is a conversation piece, it’s status symbol thing.”
Recklessness with taxpayer dollars by Joe Biden, plain and simple, and now he is back in power to do it all over again, which takes us back to Fisker and Hunter and Joe, to wit:
The Fisker strategy also relied on large-scale government investment, which was made easier by having strong political connections.
Fisker was backed by former Vice President Al Gore and venture capitalist John Doerr, a “big-ticket” Obama donor and now a major contributor to Joe Biden’s 2020 campaign.
end quotes
And how about that, now will you, people – look where Joe is getting his money from!
Getting back to that story, it goes on as follows, and provides us with a template and game plan for what Joe intends to do with our taxpayer dollars today, to wit:
In February 2009, Doerr had been appointed by the Obama-Biden administration to sit on an economic recovery board.
His firm, Kleiner Perkins, managed a $100 million tech fund.
CNET reported of his appointment: “Not-so-coincidentally, Doerr has lobbied for laws at the state level – and, more recently, as part of the ‘stimulus’ proposal – that would benefit his portfolio by moving toward smart grid, solar, and other technology.”
Fisker had private clout, and soon would secure taxpayer cash.
A Biden staffer told the Wall Street Journal that he made “no direct appeals” to the agency prior to the loan’s approval.
That claim from December 2009 seems suspect based on the paper’s chronicling of events.
Delaware’s Chief of Economic Development dubbed Biden a “secret weapon” in securing federal support.
Before ruling on the loan, Department of Energy leadership was “peppered” by elected officials in the state and had “repeated discussions with Vice President Biden and his staff.”
When Secretary Chu ran into Biden at an event, he reportedly told him, “I know, I know – Fisker.”
The loan was approved five days after that conversation.
Fisker chose a shuttered factory in Delaware located 3,000 miles away from the company’s headquarters.
High Gear Media notes other disadvantages besides geography: “(It) needed expensive retooling, was far too large for the task at hand, and was ostensibly more expensive to retrofit than some other ‘old GM’ properties, such as Doraville.”
However, the selected destination had some political advantages: It was just a few miles from Biden’s house and “across the tracks from Biden Park.”
The vice president was so excited that he “inadvertently divulged” Fisker’s product plan during a speech to union members.
A press release heralded a “new chapter” for the American auto industry which he believed would help our country “reclaim its top position in the global market.”
Given that the taxpayers were funding this venture backed by his political allies, Biden sought to assure the nation that his investment was wise: “This is seed money that will return back to the American consumer in billions and billions and billions of dollars in good, new jobs.”
end quotes
And let’s leave off there for a moment as we pause for station identification so you can get to the fridge for some necessary munchies, and when we return, it will be to hear the following from the authors of that investigative report, so stay tuned:
“But not everything went according to Biden’s ‘roadmap.’”
http://www.capecharlesmirror.com/news/o ... ent-663823
Re: MADNESS AND INSANITY IN A TIME OF JOE BIDEN
THE CAPE CHARLES MIRROR AUGUST 24, 2022 AT 8:47 PM
Paul Plante says:
White & Case
“President Biden Signs CHIPS and Science Act into Law”
12 August 2022
On August 9, 2022, President Biden signed the CHIPS and Science Act (H.R.4346), which seeks to bolster the US semiconductor supply chain and promote research and development of advanced technologies in the United States.
The Act is comprised largely of provisions extracted from the US Innovation and Competition Act (USICA) and its House alternative, the America COMPETES Act, which Congress failed to reconcile in conference negotiations this summer.
The CHIPS and Science Act encompasses the most popular provisions of the USICA and COMPETES bills, but modifies and adds to those provisions in important ways.
Key provisions and updates in the CHIPS and Science Act are as follows:
* $52.7 billion appropriation for semiconductor incentives. The bill appropriates $52.7 billion over five years to fund grants, loans, loan guarantees, and other programs to incentivize semiconductor manufacturing in the United States (as proposed in the USICA and the COMPETES Act).
* “FABS Act” investment tax credit. The bill establishes a new 25 percent tax credit for investments in semiconductor manufacturing facilities in the United States (not envisioned in the USICA or the COMPETES Act).
* Limits on expansion of manufacturing capacity in China. The bill includes new “clawback” provisions that generally prohibit beneficiaries of the CHIPS funding and investment tax credit from expanding semiconductor manufacturing in China for a period of ten years (except for manufacturing of legacy chips).
* $170 billion authorization for R&D programs. The bill authorizes nearly $170 billion in funding over five years for research and development initiatives across multiple federal agencies, roughly in line with the USICA and the COMPETES Act.
This includes a $20 billion authorization for a new technology directorate within the National Science Foundation, which will award grants to fund research and development in areas such as artificial intelligence, advanced energy, data storage, and robotics.
Financial Assistance Program for Semiconductors ($39 billion)
The CHIPS and Science Act appropriates $52.7 billion to fund semiconductor incentive programs authorized by the CHIPS for America Act of 2021.
The majority of this appropriation ($39 billion) will fund a “Financial Assistance Program” for the semiconductor industry.
This program, which the US Department of Commerce will administer, will provide Federal financial assistance to “covered entities” to incentivize “investment in facilities and equipment in the United States for the fabrication, assembly, testing, advanced packaging, production, or research and development of semiconductors, materials used to manufacture semiconductors, or semiconductor manufacturing equipment.”
Federal investment in any particular project may not exceed $3 billion, unless the Executive Branch certifies to Congress that a larger investment is necessary to:
(1) “significantly increase the proportion of reliable domestic supply of semiconductors relevant for national security and economic competitiveness that can be met through domestic production;” and
(2) “meet the needs of national security.”
Other notable changes to the Financial Assistance Program
The CHIPS and Science Act makes several other noteworthy changes to the Financial Assistance Program, including:
* Expanding the scope of the program to include upstream suppliers of semiconductor manufacturing equipment and materials used to manufacture semiconductors;
* Providing express authority for the Secretary of Commerce to provide financial assistance in the form of loans or loan guarantees (which may account for up to $6 billion of the $39 billion appropriation);
* Establishing additional eligibility criteria, including requirements that covered entities must have plans in place to identify and mitigate supply chain security risks; and
* Establishing a dedicated sub-program to provide financial assistance for assembly, testing, or packaging of semiconductors at “mature technology nodes,” and setting aside $2 billion of the total appropriation to implement this sub-program.
Other CHIPS for America Act Programs ($13.7 billion)
The bill appropriates $13.7 billion for other programs authorized by the CHIPS for America Act, including:
* $11 billion for workforce and research and development programs administered by the Department of Commerce (including the National Semiconductor Technology Center and the National Advanced Packaging Manufacturing Program);
* $2 billion for a CHIPS for America Defense Fund, which will be used to establish a national network for microelectronics research and development;
* $500 million for a CHIPS for America International Technology Security and Innovation Fund, which will be used to coordinate with foreign government partners on semiconductor supply chain issues; and
* $200 million for a CHIPS for America Workforce and Education Fund, which will seek to promote growth of the US semiconductor workforce.
New Investment Tax Credit for Semiconductor Manufacturing
The CHIPS and Science Act establishes a new tax credit for investments in semiconductor manufacturing facilities in the United States, based on the Facilitating American-Built Semiconductors (FABS) Act introduced by Senators Ron Wyden (D-OR) and Mike Crapo (R-ID).
The credit is equal to 25 percent of the value of a qualified investment in a facility for which the primary purpose is the manufacturing of semiconductors or semiconductor manufacturing equipment.
The Congressional Budget Office estimates that this credit will result in tax expenditures of approximately $24 billion.
Research and Development, Competition, and Innovation Act
Division B of the CHIPS and Science Act, entitled the Research and Development, Competition, and Innovation Act, authorizes nearly $170 billion in funding over five years for research and development initiatives across multiple federal agencies, including the National Science Foundation, the Department of Commerce, the Department of Energy, and the National Institute of Standards and Technology.
This amounts to an $82.5 billion increase over the baseline of authorized funding, representing “the largest five-year investment in public R&D in the nation’s history,” according to the bill’s proponents.
The legislation covers a broad array of programs, including initiatives to fund research and development of advanced technologies, promote research security, develop standards in areas such as cybersecurity and advanced communications, and promote energy security.
Among other notable provisions in Division B, and particularly relevant to the bill’s theme of technological competition with China, the bill authorizes a $20 billion appropriation for a new “Directorate for Technology, Innovation, and Partnerships” within the National Science Foundation.
The Directorate is authorized to make financial awards to private entities and other institutions (excluding “entities of concern”) for research and technology development within “key technology focus areas.”
The bill specifies ten “key technology focus areas” that are eligible for such awards:
* Artificial intelligence, machine learning, autonomy, and related advances;
* High performance computing, semiconductors, and advanced computer hardware and software;
* Quantum information science and technology;
* Robotics, automation, and advanced manufacturing;
* Natural and anthropogenic disaster prevention or mitigation;
* Advanced communications technology and immersive technology;
* Biotechnology, medical technology, genomics, and synthetic biology;
* Data storage, data management, distributed ledger technologies, and cybersecurity, including biometrics;
* Advanced energy and industrial efficiency technologies; and
* Advanced materials science.
Outlook
The CHIPS and Science Act creates significant new funding opportunities and potential tax benefits for companies exploring investments in the semiconductor supply chain and other critical technologies in the United States.
The CHIPS and Science Act also represents an important evolution of the United States’ longstanding posture regarding industrial subsidies.
The United States has long expressed concern about the market-distorting effects of industrial subsidies maintained by other countries, and has sought to address them primarily through trade enforcement and dispute settlement, new FTA disciplines, and proposed reforms to WTO rules (the latter being a focus of trilateral discussions with the EU and Japan in recent years).
More recently, the Biden Administration and Members of Congress of both parties have argued that the United States must respond to foreign subsidization of the semiconductor industry by offering commensurate subsidies of its own, as envisioned in the CHIPS and Science Act (which is expressly intended to “erase the difference with foreign subsidy regimes.”
Following the passage of the CHIPS and Science Act, US Trade Representative Katherine Tai stated that the United States should “keep replicating this for other industries,” especially those that face “stiff competition from economies that are not structured like ours,” calling this approach “the key to American competitiveness going forward.”
This shift in the United States’ posture may further complicate efforts to advance new trade disciplines regarding industrial subsidies, and there are indications that the United States has already begun to pull back from some of those efforts.
http://www.capecharlesmirror.com/news/o ... ent-677329
Paul Plante says:
White & Case
“President Biden Signs CHIPS and Science Act into Law”
12 August 2022
On August 9, 2022, President Biden signed the CHIPS and Science Act (H.R.4346), which seeks to bolster the US semiconductor supply chain and promote research and development of advanced technologies in the United States.
The Act is comprised largely of provisions extracted from the US Innovation and Competition Act (USICA) and its House alternative, the America COMPETES Act, which Congress failed to reconcile in conference negotiations this summer.
The CHIPS and Science Act encompasses the most popular provisions of the USICA and COMPETES bills, but modifies and adds to those provisions in important ways.
Key provisions and updates in the CHIPS and Science Act are as follows:
* $52.7 billion appropriation for semiconductor incentives. The bill appropriates $52.7 billion over five years to fund grants, loans, loan guarantees, and other programs to incentivize semiconductor manufacturing in the United States (as proposed in the USICA and the COMPETES Act).
* “FABS Act” investment tax credit. The bill establishes a new 25 percent tax credit for investments in semiconductor manufacturing facilities in the United States (not envisioned in the USICA or the COMPETES Act).
* Limits on expansion of manufacturing capacity in China. The bill includes new “clawback” provisions that generally prohibit beneficiaries of the CHIPS funding and investment tax credit from expanding semiconductor manufacturing in China for a period of ten years (except for manufacturing of legacy chips).
* $170 billion authorization for R&D programs. The bill authorizes nearly $170 billion in funding over five years for research and development initiatives across multiple federal agencies, roughly in line with the USICA and the COMPETES Act.
This includes a $20 billion authorization for a new technology directorate within the National Science Foundation, which will award grants to fund research and development in areas such as artificial intelligence, advanced energy, data storage, and robotics.
Financial Assistance Program for Semiconductors ($39 billion)
The CHIPS and Science Act appropriates $52.7 billion to fund semiconductor incentive programs authorized by the CHIPS for America Act of 2021.
The majority of this appropriation ($39 billion) will fund a “Financial Assistance Program” for the semiconductor industry.
This program, which the US Department of Commerce will administer, will provide Federal financial assistance to “covered entities” to incentivize “investment in facilities and equipment in the United States for the fabrication, assembly, testing, advanced packaging, production, or research and development of semiconductors, materials used to manufacture semiconductors, or semiconductor manufacturing equipment.”
Federal investment in any particular project may not exceed $3 billion, unless the Executive Branch certifies to Congress that a larger investment is necessary to:
(1) “significantly increase the proportion of reliable domestic supply of semiconductors relevant for national security and economic competitiveness that can be met through domestic production;” and
(2) “meet the needs of national security.”
Other notable changes to the Financial Assistance Program
The CHIPS and Science Act makes several other noteworthy changes to the Financial Assistance Program, including:
* Expanding the scope of the program to include upstream suppliers of semiconductor manufacturing equipment and materials used to manufacture semiconductors;
* Providing express authority for the Secretary of Commerce to provide financial assistance in the form of loans or loan guarantees (which may account for up to $6 billion of the $39 billion appropriation);
* Establishing additional eligibility criteria, including requirements that covered entities must have plans in place to identify and mitigate supply chain security risks; and
* Establishing a dedicated sub-program to provide financial assistance for assembly, testing, or packaging of semiconductors at “mature technology nodes,” and setting aside $2 billion of the total appropriation to implement this sub-program.
Other CHIPS for America Act Programs ($13.7 billion)
The bill appropriates $13.7 billion for other programs authorized by the CHIPS for America Act, including:
* $11 billion for workforce and research and development programs administered by the Department of Commerce (including the National Semiconductor Technology Center and the National Advanced Packaging Manufacturing Program);
* $2 billion for a CHIPS for America Defense Fund, which will be used to establish a national network for microelectronics research and development;
* $500 million for a CHIPS for America International Technology Security and Innovation Fund, which will be used to coordinate with foreign government partners on semiconductor supply chain issues; and
* $200 million for a CHIPS for America Workforce and Education Fund, which will seek to promote growth of the US semiconductor workforce.
New Investment Tax Credit for Semiconductor Manufacturing
The CHIPS and Science Act establishes a new tax credit for investments in semiconductor manufacturing facilities in the United States, based on the Facilitating American-Built Semiconductors (FABS) Act introduced by Senators Ron Wyden (D-OR) and Mike Crapo (R-ID).
The credit is equal to 25 percent of the value of a qualified investment in a facility for which the primary purpose is the manufacturing of semiconductors or semiconductor manufacturing equipment.
The Congressional Budget Office estimates that this credit will result in tax expenditures of approximately $24 billion.
Research and Development, Competition, and Innovation Act
Division B of the CHIPS and Science Act, entitled the Research and Development, Competition, and Innovation Act, authorizes nearly $170 billion in funding over five years for research and development initiatives across multiple federal agencies, including the National Science Foundation, the Department of Commerce, the Department of Energy, and the National Institute of Standards and Technology.
This amounts to an $82.5 billion increase over the baseline of authorized funding, representing “the largest five-year investment in public R&D in the nation’s history,” according to the bill’s proponents.
The legislation covers a broad array of programs, including initiatives to fund research and development of advanced technologies, promote research security, develop standards in areas such as cybersecurity and advanced communications, and promote energy security.
Among other notable provisions in Division B, and particularly relevant to the bill’s theme of technological competition with China, the bill authorizes a $20 billion appropriation for a new “Directorate for Technology, Innovation, and Partnerships” within the National Science Foundation.
The Directorate is authorized to make financial awards to private entities and other institutions (excluding “entities of concern”) for research and technology development within “key technology focus areas.”
The bill specifies ten “key technology focus areas” that are eligible for such awards:
* Artificial intelligence, machine learning, autonomy, and related advances;
* High performance computing, semiconductors, and advanced computer hardware and software;
* Quantum information science and technology;
* Robotics, automation, and advanced manufacturing;
* Natural and anthropogenic disaster prevention or mitigation;
* Advanced communications technology and immersive technology;
* Biotechnology, medical technology, genomics, and synthetic biology;
* Data storage, data management, distributed ledger technologies, and cybersecurity, including biometrics;
* Advanced energy and industrial efficiency technologies; and
* Advanced materials science.
Outlook
The CHIPS and Science Act creates significant new funding opportunities and potential tax benefits for companies exploring investments in the semiconductor supply chain and other critical technologies in the United States.
The CHIPS and Science Act also represents an important evolution of the United States’ longstanding posture regarding industrial subsidies.
The United States has long expressed concern about the market-distorting effects of industrial subsidies maintained by other countries, and has sought to address them primarily through trade enforcement and dispute settlement, new FTA disciplines, and proposed reforms to WTO rules (the latter being a focus of trilateral discussions with the EU and Japan in recent years).
More recently, the Biden Administration and Members of Congress of both parties have argued that the United States must respond to foreign subsidization of the semiconductor industry by offering commensurate subsidies of its own, as envisioned in the CHIPS and Science Act (which is expressly intended to “erase the difference with foreign subsidy regimes.”
Following the passage of the CHIPS and Science Act, US Trade Representative Katherine Tai stated that the United States should “keep replicating this for other industries,” especially those that face “stiff competition from economies that are not structured like ours,” calling this approach “the key to American competitiveness going forward.”
This shift in the United States’ posture may further complicate efforts to advance new trade disciplines regarding industrial subsidies, and there are indications that the United States has already begun to pull back from some of those efforts.
http://www.capecharlesmirror.com/news/o ... ent-677329
Re: MADNESS AND INSANITY IN A TIME OF JOE BIDEN
THE CAPE CHARLES MIRROR SEPTEMBER 1, 2022 AT 5:08 PM
Paul Plante says:
FASCISM: a one party system of government in which each class has its distinct place, function, and representation in the government, but the individual is subordinated to the state and control is maintained by military forces, secret police, rigid censorship, and governmental regimentation of industry and finance.
– Reader’s Digest Great Encyclopedic Dictionary
**********************************************
Reuters
“U.S. officials order Nvidia to halt sales of top AI chips to China”
By Stephen Nellis and Jane Lanhee Lee
August 31, 2022
Aug 31 (Reuters) – Chip designer Nvidia Corp on Wednesday said that U.S. officials told it to stop exporting two top computing chips for artificial intelligence work to China, a move that could cripple Chinese firms’ ability to carry out advanced work like image recognition and hamper a business that Nvidia expects to generate $400 million in sales this quarter.
Nvidia shares fell 4% after hours.
The company said the ban, which affects its A100 and H100 chips designed to speed up machine learning tasks, could interfere with completion of developing the H100, the flagship chip Nvidia announced this year.
AMD shares were down 2% in after hours trading.
It makes similar artificial intelligence chips.
The announcement signals a major escalation of the U.S. crackdown on China’s technological capabilities as tensions bubble over the fate of Taiwan, where chips for Nvidia and almost every other major chip firm are manufactured.
Without American chips from companies like Nvidia and its rival Advanced Micro Devices, Chinese organizations will be unable to cost-effectively carry out the kind of advanced computing used for image and speech recognition, among many other tasks.
AMD did not immediately respond to request for comment.
Nvidia said it had booked $400 million in sales of the affected chips this quarter to China that could be lost if Chinese firms decide not to buy alternative Nvidia products.
It said it plans to apply for exemptions to the rule but has “no assurances” that U.S. officials will grant them.
http://www.capecharlesmirror.com/news/o ... ent-683238
Paul Plante says:
FASCISM: a one party system of government in which each class has its distinct place, function, and representation in the government, but the individual is subordinated to the state and control is maintained by military forces, secret police, rigid censorship, and governmental regimentation of industry and finance.
– Reader’s Digest Great Encyclopedic Dictionary
**********************************************
Reuters
“U.S. officials order Nvidia to halt sales of top AI chips to China”
By Stephen Nellis and Jane Lanhee Lee
August 31, 2022
Aug 31 (Reuters) – Chip designer Nvidia Corp on Wednesday said that U.S. officials told it to stop exporting two top computing chips for artificial intelligence work to China, a move that could cripple Chinese firms’ ability to carry out advanced work like image recognition and hamper a business that Nvidia expects to generate $400 million in sales this quarter.
Nvidia shares fell 4% after hours.
The company said the ban, which affects its A100 and H100 chips designed to speed up machine learning tasks, could interfere with completion of developing the H100, the flagship chip Nvidia announced this year.
AMD shares were down 2% in after hours trading.
It makes similar artificial intelligence chips.
The announcement signals a major escalation of the U.S. crackdown on China’s technological capabilities as tensions bubble over the fate of Taiwan, where chips for Nvidia and almost every other major chip firm are manufactured.
Without American chips from companies like Nvidia and its rival Advanced Micro Devices, Chinese organizations will be unable to cost-effectively carry out the kind of advanced computing used for image and speech recognition, among many other tasks.
AMD did not immediately respond to request for comment.
Nvidia said it had booked $400 million in sales of the affected chips this quarter to China that could be lost if Chinese firms decide not to buy alternative Nvidia products.
It said it plans to apply for exemptions to the rule but has “no assurances” that U.S. officials will grant them.
http://www.capecharlesmirror.com/news/o ... ent-683238
Re: MADNESS AND INSANITY IN A TIME OF JOE BIDEN
THE CAPE CHARLES MIRROR SEPTEMBER 2, 2022 AT 8:25 PM
Paul Plante says:
Speaking of madness and insanity in a time of Joe Biden’s “ULTRA-MAGA GREAT LEAP FORWARD”:
Reuters
“Chip wreck: Nvidia sinks sector after U.S. restricts China sales”
By Noel Randewich
September 1, 2022
Sept 1 (Reuters) – U.S. chip stocks tumbled on Thursday, with the main semiconductor index down more than 3% after Nvidia and Advanced Micro Devices said U.S. officials told them to stop exporting cutting-edge processors for artificial intelligence to China.
Nvidia’s stock plummeted 11%, on track for its biggest one-day percentage drop since 2020, while smaller rival AMD’s stock fell almost 6%.
As of mid-day, about $40 billion worth of Nvidia’s stock market value had evaporated.
The 30 companies making up the Philadelphia semiconductor index lost a combined about $100 billion worth of stock market value.
Traders exchanged over $11 billion worth of Nvidia shares, more than any other stock on Wall Street.
The restricted exports to China of two of Nvidia’s top computing chips for artificial intelligence – the H100 and A100 – could impact $400 million in potential sales to China in its current fiscal quarter, the company warned in a filing on Wednesday.
“We see an escalation in US semiconductor restrictions to China and increased volatility for the semiconductors and equipment group following NVIDIA’s update,” Citi analyst Atif Malik wrote in a research note.
The announcements also come as investors worry that the global chip industry may be heading for its first sales downturn since 2019, as rising interest rates and stuttering economies in the United States and Europe cut into demand for personal computers, smartphones and data center components.
The Philadelphia chip index has now lost almost 16% since mid-August.
It is down about 35% in 2022, on track for its worst calendar-year performance since 2009.
http://www.capecharlesmirror.com/news/o ... ent-683238
Paul Plante says:
Speaking of madness and insanity in a time of Joe Biden’s “ULTRA-MAGA GREAT LEAP FORWARD”:
Reuters
“Chip wreck: Nvidia sinks sector after U.S. restricts China sales”
By Noel Randewich
September 1, 2022
Sept 1 (Reuters) – U.S. chip stocks tumbled on Thursday, with the main semiconductor index down more than 3% after Nvidia and Advanced Micro Devices said U.S. officials told them to stop exporting cutting-edge processors for artificial intelligence to China.
Nvidia’s stock plummeted 11%, on track for its biggest one-day percentage drop since 2020, while smaller rival AMD’s stock fell almost 6%.
As of mid-day, about $40 billion worth of Nvidia’s stock market value had evaporated.
The 30 companies making up the Philadelphia semiconductor index lost a combined about $100 billion worth of stock market value.
Traders exchanged over $11 billion worth of Nvidia shares, more than any other stock on Wall Street.
The restricted exports to China of two of Nvidia’s top computing chips for artificial intelligence – the H100 and A100 – could impact $400 million in potential sales to China in its current fiscal quarter, the company warned in a filing on Wednesday.
“We see an escalation in US semiconductor restrictions to China and increased volatility for the semiconductors and equipment group following NVIDIA’s update,” Citi analyst Atif Malik wrote in a research note.
The announcements also come as investors worry that the global chip industry may be heading for its first sales downturn since 2019, as rising interest rates and stuttering economies in the United States and Europe cut into demand for personal computers, smartphones and data center components.
The Philadelphia chip index has now lost almost 16% since mid-August.
It is down about 35% in 2022, on track for its worst calendar-year performance since 2009.
http://www.capecharlesmirror.com/news/o ... ent-683238
Re: MADNESS AND INSANITY IN A TIME OF JOE BIDEN
THE CAPE CHARLES MIRROR SEPTEMBER 5, 2022 AT 9:10 PM
Paul Plante says:
And while we are on the subject of a “planned central economy” by people in Washington, D.C. who themselves have never worked a real job in their lives, which includes Joe Biden, this Washington Examiner article titled “Obama’s ‘car of the future’ goes kaput” by Philip Wegmann on November 26, 2018, gives us some possible insights into how Joe’s subsidizing of the chip fab industry with massive amounts of taxpayer dollars might go, to wit:
It came with a turbocharged four-cylinder engine, churned out about 140 horsepower, and made upwards 40 mpg highway.
What’s more, the Chevy Cruze was the only compact sedan to come with a presidential seal of approval.
When a prototype of the 2011 model rolled off the assembly line, then President Barack Obama put his signature on the hood writing that the Cruze was “the car of the future.”
But the future lasted only seven years.
Responding to slumping sales, General Motors announced plans to push the Cruze out of their showrooms and off of a cliff.
The Motor City has learned the hard way that what was good for Obama’s green agenda wasn’t good for GM.
Fuel efficiency made the Cruze a poster child of that president’s energy legacy.
If Detroit could make a car capable of making the round trip between New York City and Washington, D.C. on a single tank of gas (the Cruze comes standard with a 13.7 gallon gas tank and those cities are 220 miles apart), then the automaker could make higher fuel economy standards.
Obama wanted higher Corporate Average Fuel Economy standards, and his administration mandated a 54.5 mpg standard for cars and light-duty trucks by model year 2025.
Consumers did not, however, want the Cruze.
Sales were never stellar and more were sold in China than in the United States.
And when President Trump reversed the Obama-era fuel standards, sales plummeted even further.
Automotive News reports that sales of the Cruze dropped 26 percent through last March.
Soon they will free-fall.
A freshened up 2019 Cruze goes on sale in the fall for a final time.
Soon after, the plant in Lordstown, Ohio, that makes them will cease production.
end quotes
Is there possibly a moral to that story?
Something along the lines of do not put idiots who know nothing about how the economy really works in charge of the economy they know nothing about?
http://www.capecharlesmirror.com/news/o ... ent-684960
Paul Plante says:
And while we are on the subject of a “planned central economy” by people in Washington, D.C. who themselves have never worked a real job in their lives, which includes Joe Biden, this Washington Examiner article titled “Obama’s ‘car of the future’ goes kaput” by Philip Wegmann on November 26, 2018, gives us some possible insights into how Joe’s subsidizing of the chip fab industry with massive amounts of taxpayer dollars might go, to wit:
It came with a turbocharged four-cylinder engine, churned out about 140 horsepower, and made upwards 40 mpg highway.
What’s more, the Chevy Cruze was the only compact sedan to come with a presidential seal of approval.
When a prototype of the 2011 model rolled off the assembly line, then President Barack Obama put his signature on the hood writing that the Cruze was “the car of the future.”
But the future lasted only seven years.
Responding to slumping sales, General Motors announced plans to push the Cruze out of their showrooms and off of a cliff.
The Motor City has learned the hard way that what was good for Obama’s green agenda wasn’t good for GM.
Fuel efficiency made the Cruze a poster child of that president’s energy legacy.
If Detroit could make a car capable of making the round trip between New York City and Washington, D.C. on a single tank of gas (the Cruze comes standard with a 13.7 gallon gas tank and those cities are 220 miles apart), then the automaker could make higher fuel economy standards.
Obama wanted higher Corporate Average Fuel Economy standards, and his administration mandated a 54.5 mpg standard for cars and light-duty trucks by model year 2025.
Consumers did not, however, want the Cruze.
Sales were never stellar and more were sold in China than in the United States.
And when President Trump reversed the Obama-era fuel standards, sales plummeted even further.
Automotive News reports that sales of the Cruze dropped 26 percent through last March.
Soon they will free-fall.
A freshened up 2019 Cruze goes on sale in the fall for a final time.
Soon after, the plant in Lordstown, Ohio, that makes them will cease production.
end quotes
Is there possibly a moral to that story?
Something along the lines of do not put idiots who know nothing about how the economy really works in charge of the economy they know nothing about?
http://www.capecharlesmirror.com/news/o ... ent-684960