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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?
 

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".
 
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
 
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 Stop replacing an aging bridge or repairing an outdated city water supply system will do little to control such inflation.
 
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 Stop replacing an aging bridge or repairing an outdated city water supply system will do little to control such inflation.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.

 
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.
 
(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.


@tonyget

Thank you for suggesting that YouTube video created by Daniel Lacalle. My comments are as follows:

1. In his 3-minute short video clip, Mr. Guatemala expressed his idea on how to control inflation. He didn't spell out which country's economy or what type of inflation he is talking about. He might not have the intention to make his video as a thorough research thesis, but to me it's unrealistic and not piratical to provide some suggestions to today's sophisticated economy without doing so. Each country, each economy, and each inflation has its own uniqueness and need to deal it differently. To use his government spending cut as a golden rule to combat inflation everywhere in the world is probably not useful and it might not be his original intention at all..

2. An inflation can be caused by unbalanced demand and supply. It can be too much demand, not enough supply, or both. Logically we need to handle them accordingly. Let's use the US as an example. In the past two years US railroad freight train congestion problems in Chicago, Memphis, Kansas City, and other places caused big delays in the US supply chain system. A traditional one-week container journey from LA to Chicago took more than 4 weeks to complete. This is a supply side problem and we must deal with it by improving the US railroad system. In the Bipartisan Infrastructure Act, there is 5-year $27 billion allocated to improve those critical railroad hubs. This type of spending has potential to control the inflation and improve the efficiency and cost of the supply chain.

3. The $52 Chips Act is another good example. This Act has the potential to increase the semiconductor supply and ease the automobile and trucks production shortage. We know cars and trucks transport the workers and goods we need everyday. This is a 5-year spending (about $10 billion a year averagely) can help to reduce the pressure on the supply side. BTW, $10 billion a year is a insignificant number in the US economy.

4. Oil, natural gas, grans, soybeans, and other commodities are traded in the world at several exchanges/markets. Their ups and downs greatly impact the inflation. When there is shortage in Europe, it will push the US' higher too. They are in a pool and influencing each other all the time. We may need to cut the demand (such government spending and consumer spending) to combat the inflation, but we need to analyze the sources and their weights on inflation first. I don't see cutting back a city water modernization project can increase the natural gas production that is in short supply right now.


.
 
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:


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.

First,

"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."

"But it has no relation to prices in US"
Not true.


Second:

Please suggest some up to date articles. The one below you referenced was an opinion writing, not a rigorous Bloomberg reporting. Put the issues and analysis aside, it was posted 50 days before the Russia invasion of Ukraine. The author can't foresee all those drastic impacts for the obvious reason.

 
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