The USA economy is still solid as a rock according to
Biden, with job creation reaching for the moon. Such a view is not
shared by Trump, who labelled the job market a 'cesspool'. Wonder how
the voters will look at it.
As Profession Richard Wolff puts it,
USA's economic growth is all about printing toilet papers, that goes
into the stock market to create a bigger and bigger balloon. That is
growth in the context of the USA. When BRICS gets it house in order with
its currency, settlement system and control of its in house 'grain and
energy exchange', that will end the toilet paper printing and put the
printing machines out of business.
China is still said to be
collapsing with a 5.2% growth in the first quarter of 2024. Huawei was
thought to be tottering or even collapsing from the sanctions earlier
but still reported a staggering 564% profit growth year on year. USA
chipmakers on the other hand are sinking deeper into losses and are of
course not collapsing anytime soon. Biden will throw more subsidies into
the black hole to keep them alive. What is the truth, or the alternate
truth? Do the sanctions work so far against Huawei? Wonder how other
sanctions will work against China that is said to be coming up.
I
just wonder what TSMC, Samsung and other USA chipmakers are thinking
now about their investments in Arizona and prospect moving forward.
Their future looks bleak, considering that Huawei is growing stronger by
the day and now even making its own lithography machines and selling
them cheap. Oh, those are junks they will say, but never forget the
junks that China used to turn out and now dominating the market in EVs,
solar panels, wind turbines, batteries, and even shipbuilding, the
traditional niche of Japan and South Korea in the recent past.
And
were not Chinamen also relegated to merely suitable to be cooks and
laundrymen? Why is the West now fearful of those Chinamen eating their
lunch? Keep denying, go to sleep and everything will turn out fine when
they wake up.
Anonymous