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r/lostgeneration
3.4k
Posted by2 months ago
WholesomeSilver

Not sure if people realize the significance of Nancy Pelosi this past week?

For context, House Speaker Nancy Pelosi went to Taiwan this past week. Prior to going China was making some really aggressive remarks about "playing with fire", etc. China essentially said she is not allowed to go. She went anyways, maybe as a show of power by the U.S. Since then China is conducting military drills in the waters of the Taiwan strait. Even sending missles over Taiwan.

https://apnews.com/article/taiwan-china-asia-beijing-b252479810add6a225fa1e4a6d441983

The issue for the U.S. is we get most of our computer chips from Taiwan. We use the chips for our missles so if China invades Taiwan the U.S. HAS to send soldiers since it is a matter of national security.

To counter this the U.S. is in the process of passing the Chips Act to fund $52b into making computer chips in the U.S. it will takes years to start production though. Some interviews I've heard say 2024.

https://www.cnbc.com/2022/08/02/biden-signs-china-competition-bill-to-boost-us-chip-production.html

Why is this significant to people here? These companies spent 20+ years sending all our jobs, and our economy essentially, to other countries. Globalization.

If we go to war with China and they stop sending things they make, the significance is mind boggling. Look at the inflation with clogs in our supply chain. Massive shipping boats sitting outside docks in CA. Imagine if instead a slow supply chain we just do not have one.

When you combine this with Baby Boomers retiring, and dropping birth rates resultant of less jobs in America, it's going to get absurdly expensive to bring the manufacturing back to the U.S.

The chips act alone will likely create hundreds of thousands of jobs. Imagine if we have to bring back making phones, furniture, car parts, etc.

The demand for labor will sky rocket.

437 comments
96% Upvoted
level 1
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Vote
level 1

Another war would just bring more misery and poverty - just like the Ukraine war is with the energy crisis we have here in Europe.

The only winners are the shareholders in Lockheed Martin, Halliburton etc.

As the song says "War, what is it good for? Absolutely nothing."

750
level 2

I was thinking meet the new boss same as the old boss.

182
level 2

Any bets that she isn't a shareholder of said companies...

64

4 more replies

level 1

Only if our Corporate masters didn’t offshore our industrial and manufacturing jobs in the name of higher profits, stock options and huge bonuses. I guess the is the American way, screw the little guys…

1.6k
level 2

I’m pretty sure the American way is “Fuck You I Got Mine!”

684
level 2

Doesn't help that the media and government have been putting down blue collar hobs and workers for years. Giws that sheepskinn working out fir ya stocking shelves at home deopt?

58
level 2

I would say that's more the humanity way rather than the American one. Can't think of many countries where most of the wealth isn't in the top few while they all spit on the climate.

16

2 more replies

level 1

so let me get this straight: chipmakers like intel offshore jobs and kill economy and displace labor and get record pRoFitS; same chipcos then charge higher blaming import costs and get record PrOfiTs; same chipcos then get $80+ billion (or worded another way, $80+ billion in citizens' tax dollars go to payoff chipcos to bring manufacturing back to US and get to claim that 80+ billion as income so will get to post record PrOfItS next quarter; then chipcos will raise prices claiming US labor is too expensive and NoBoDy wAnTs to wOrK anYmorE, and will again get to post record PrOfits because of not having to repay the $80+ billion gift. something is seriously wrong with this.

276
level 2

bailouts to billionaires and corporations for decades, bail out when they screw us over, bail out when they put us all at risk, bail out when they are making record profits, but that $1400 you got 2 years ago is what's wrong with this country. lunacy

65
level 2

You forgot to mention the politicians like Pelosi buy huge amounts of stock in chip makers before signing legislation that helps these companies and their pRoFitS.

House Speaker Nancy Pelosi’s husband purchased up to $5 million in stock options on a computer-chip company ahead of a vote on legislation next week that would deliver billions of dollars in subsidies to boost the chip-manufacturing industry, new financial disclosures show.

47
level 2
[deleted]
· 2 mo. ago

Don't forget the part where the Congresspeople bought stock in these companies a few months before awarding them all this money. Truly a bipartisan effort.

27
level 2

💯

56
level 1

Hm, instead of rich people and our government exploiting other countries for cheap labor maybe they should've kept the jobs within our country and we wouldn't be seeing problems like we do today. Idk, just my two cents.

311
level 2

My 2 cents as well.

51

3 more replies

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For those who did everything our parents told us to do... now what?
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