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Recent Freakonomics episode might have some insights: https://freakonomics.com/podcast/will-the-democrats-make-america-great-again/ https://freakonomics.com/pod

Recent Freakonomics episode might have some insights: https://freakonomics.com/podcast/will-the-democrats-make-america-great-again/ https://freakonomics.com/podcast/will-the-democrats-make-ame... Namely many of the major spending bills passed by the Biden admin focuses on actually building things in the US.

vGPU 3y ago
It turns out going to war against china isn’t the best idea when all of your manufacturing is in china.
- bluGill 3y ago
  Despite popular belief, there is still a lot of manufacturing in the us. Cheap plastic 'junk' is made in china, but there is plenty of manufacturing in the us and thus know how to do it.
  - missedthecue 3y ago
    It's not 1998 anymore, China has a huge industry in precision and high tech manufacturing. They build the iphone after all, not to mention most of the components inside, 95% of the drone industry, more automobiles than anyone else, high speed trains, hell, they even make their own 5th gen stealth fighter jets.
    - Vt71fcAqt7 3y ago
      >not to mention most of the components inside Which ones? The display, SoC, and RAM are not manufactured in China. IIRC the battery and one of the cameras are made there and the main camera is not.
- cyanydeez 3y ago
  Also, china managed the 2008 recession by make work projects and had those projects really had a use case, it's been successful. Biden clearly understands the real economic value of keeping an economy functional.
  - solardev 3y ago
    Didn't we also do that with the New Deal?
    - vGPU 3y ago
      >After scrutinizing Roosevelt’s record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years. Doesn't seem to have been a great move.
      - solardev 3y ago
        What is that quote from? I'd like to learn more, please.
      - deleted 3y ago
        [deleted]
      - OO000oo 3y ago
        The only choices were Communism or the New Deal. Which are you endorsing? The second New Deal was a different story.
  - pram 3y ago
    I seem to recall “shovel ready jobs” as a talking point around that time.
  - vGPU 3y ago
    Let's see just how well that worked out, shall we? >In June 2023, the surveyed unemployment rate of young people between 16 and 24 years of age in urban areas of China ranged at 21.3 percent, up from 20.8 percent in the previous month. >In 2022, S&P Global Ratings found that corporate debt in China reached nearly $29 trillion in the first quarter, the highest in the world and roughly equivalent to the size of the U.S. government’s total debt. US total debt to GDP: 118.6%. Chinese total debt to GDP: 279.7% Yes, very healthy. Very successful.
- toomuchtodo 3y ago
  On the contrary, it’s the best idea if you want to force manufacturing back towards your shores. Less painful now versus when a full blown conflict kicks off and trade seizes up.
ecshafer 3y ago
> Between the three big pieces of legislation passed in President Biden’s first two years — *the Bipartisan* Infrastructure Law, the Inflation Reduction Act, and the CHIPS and Science Act — *the Democrats* are trying to fundamentally reshape American industrial policy. Interesting editorializing.
- gruez 3y ago
  >the Bipartisan Infrastructure Law, the Inflation Reduction Act, and the CHIPS and Science Act — the Democrats are trying to fundamentally reshape American industrial policy. I guess it's technically "bipartisan" in the sense that they got some republicans to vote for it, but if you look at the actual votes[1] it's clearly being carried by democrats. Given that, I don't think the claim of "the Democrats are trying to fundamentally reshape American industrial policy" is misleading or "interesting editorializing" (whatever that means). [1] https://www.congress.gov/bill/117th-congress/house-bill/3684/actions https://www.congress.gov/bill/117th-congress/house-bill/3684...
- lapcat 3y ago
  Well, it was somewhat more bipartisan in the Senate, where 19 of the 69 votes were Republicans. Who knows what the outcome would have been, though, if Democrats didn't already have 50 votes and the tiebreak. https://www.senate.gov/legislative/LIS/roll_call_votes/vote1171/vote_117_1_00314.htm https://www.senate.gov/legislative/LIS/roll_call_votes/vote1... In the House, it was only 8 Republicans out of 228 votes. https://clerk.house.gov/Votes/2021370 https://clerk.house.gov/Votes/2021370
- aschearer 3y ago
  Care to explain why you think the Republicans deserve equal credit? Or what exactly is the problem?
  - ecshafer 3y ago
    Bipartisan means its not partisan, and supported by both sides. Saying Democrats are doing it is partisan. Its contradictory.

vGPU 3y ago

It turns out going to war against china isn’t the best idea when all of your manufacturing is in china.

bluGill 3y ago
Despite popular belief, there is still a lot of manufacturing in the us. Cheap plastic 'junk' is made in china, but there is plenty of manufacturing in the us and thus know how to do it.
- missedthecue 3y ago
  It's not 1998 anymore, China has a huge industry in precision and high tech manufacturing. They build the iphone after all, not to mention most of the components inside, 95% of the drone industry, more automobiles than anyone else, high speed trains, hell, they even make their own 5th gen stealth fighter jets.
  - Vt71fcAqt7 3y ago
    >not to mention most of the components inside Which ones? The display, SoC, and RAM are not manufactured in China. IIRC the battery and one of the cameras are made there and the main camera is not.
cyanydeez 3y ago
Also, china managed the 2008 recession by make work projects and had those projects really had a use case, it's been successful. Biden clearly understands the real economic value of keeping an economy functional.
- solardev 3y ago
  Didn't we also do that with the New Deal?
  - vGPU 3y ago
    >After scrutinizing Roosevelt’s record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years. Doesn't seem to have been a great move.
    - solardev 3y ago
      What is that quote from? I'd like to learn more, please.
    - deleted 3y ago
      [deleted]
    - OO000oo 3y ago
      The only choices were Communism or the New Deal. Which are you endorsing? The second New Deal was a different story.
- pram 3y ago
  I seem to recall “shovel ready jobs” as a talking point around that time.
- vGPU 3y ago
  Let's see just how well that worked out, shall we? >In June 2023, the surveyed unemployment rate of young people between 16 and 24 years of age in urban areas of China ranged at 21.3 percent, up from 20.8 percent in the previous month. >In 2022, S&P Global Ratings found that corporate debt in China reached nearly $29 trillion in the first quarter, the highest in the world and roughly equivalent to the size of the U.S. government’s total debt. US total debt to GDP: 118.6%. Chinese total debt to GDP: 279.7% Yes, very healthy. Very successful.
toomuchtodo 3y ago
On the contrary, it’s the best idea if you want to force manufacturing back towards your shores. Less painful now versus when a full blown conflict kicks off and trade seizes up.

ecshafer 3y ago

> Between the three big pieces of legislation passed in President Biden’s first two years — *the Bipartisan* Infrastructure Law, the Inflation Reduction Act, and the CHIPS and Science Act — *the Democrats* are trying to fundamentally reshape American industrial policy. Interesting editorializing.

gruez 3y ago
>the Bipartisan Infrastructure Law, the Inflation Reduction Act, and the CHIPS and Science Act — the Democrats are trying to fundamentally reshape American industrial policy. I guess it's technically "bipartisan" in the sense that they got some republicans to vote for it, but if you look at the actual votes[1] it's clearly being carried by democrats. Given that, I don't think the claim of "the Democrats are trying to fundamentally reshape American industrial policy" is misleading or "interesting editorializing" (whatever that means). [1] https://www.congress.gov/bill/117th-congress/house-bill/3684/actions https://www.congress.gov/bill/117th-congress/house-bill/3684...
lapcat 3y ago
Well, it was somewhat more bipartisan in the Senate, where 19 of the 69 votes were Republicans. Who knows what the outcome would have been, though, if Democrats didn't already have 50 votes and the tiebreak. https://www.senate.gov/legislative/LIS/roll_call_votes/vote1171/vote_117_1_00314.htm https://www.senate.gov/legislative/LIS/roll_call_votes/vote1... In the House, it was only 8 Republicans out of 228 votes. https://clerk.house.gov/Votes/2021370 https://clerk.house.gov/Votes/2021370
aschearer 3y ago
Care to explain why you think the Republicans deserve equal credit? Or what exactly is the problem?
- ecshafer 3y ago
  Bipartisan means its not partisan, and supported by both sides. Saying Democrats are doing it is partisan. Its contradictory.