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Biden Launches National Biotechnology and Biomanufacturing Initiative

tonyget

Active member

Infrastructure act,CHIPS act,Inflation act,Bio act. What's next?Five year plan?:LOL:

Biden is turning the US free market economy into a Chinese style state capitalism economy,is that indirectly acknowledge that the US system has failed?
 

hist78

Well-known member

Infrastructure act,CHIPS act,Inflation act,Bio act. What's next?Five year plan?:LOL:

Biden is turning the US free market economy into a Chinese style state capitalism economy,is that indirectly acknowledge that the US system has failed?

@tonyget,

Can you please explain what your "state capitalism economy" really means?

Using the Infrastructure Act as an example, I believe all governments in the world are using public money to build bridges and roads. I haven't heard any economists call it as "state capitalism economy".
 

tonyget

Active member
Using the Infrastructure Act as an example, I believe all governments in the world are using public money to build bridges and roads.

Not when you are in a inflation crisis. Economic 101,government have to cut spending if they want to control inflation,increase spending will only exacerbate the problem
 

hist78

Well-known member
Not when you are in a inflation crisis. Economic 101,government have to cut spending if they want to control inflation,increase spending will only exacerbate the problem

The economic courses I took in the college didn't teach me such simple rule as you mentioned. And in reality it shouldn't.

For example the Russia invasion of Ukraine caused the gasoline, natural gas, and food prices jump. Consequently it affects everything we purchased for our daily life. Stop replacing an aging bridge or repairing an outdated city water supply system will do little to control such inflation.
 

tonyget

Active member
The economic courses I took in the college didn't teach me such simple rule as you mentioned. And in reality it shouldn't.

For example the Russia invasion of Ukraine caused the gasoline, natural gas, and food prices jump. Consequently it affects everything we purchased for our daily life. Stop replacing an aging bridge or repairing an outdated city water supply system will do little to control such inflation.

(1)To combat inflation,government needs to reduce the amount of money circulating in the economy,not increase it(by boost spending)

(2)The way to hammer inflation,is to cool off the economy(which is why hiking rate). Government spending is stimulus package,has the opposite effect.

 

Jozo035

Member
For example the Russia invasion of Ukraine caused the gasoline, natural gas, and food prices jump. Consequently it affects everything we purchased for our daily life. Stop replacing an aging bridge or repairing an outdated city water supply system will do little to control such inflation.
You are lying.

Gas prices are high because Biden cancelled pipelines and drilling.
Russian war on Ukraine affects oil prices in EU since they are/were biggest trading partner. It also affects prices in China/India since Russia is selling excess oil/gas for cheap. But it has no relation to prices in US.

Meanwhile US is selling strategic reserves to China.... Its not even surprising anymore. Its Biden...

Regarding food:
By mid-2022, according to the U.S. Department of Agriculture, China will hold 69% of the world’s corn reserves, 60% of its rice and 51% of its wheat. By China’s own estimation, these reserves are at a “historically high level” and are contributing to higher global food prices. For China, such stockpiles are necessary to ensure it won’t be at the mercy of major food exporters such as the U.S. But other countries, especially in the developing world, might ask why less than 20% of the world’s population is hoarding so much of its food.

Biden is communist. He is destroying America. He is destroying capitalism.

Right now You should be asking what portion of that money will end in China.
 
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