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The US takes back its Chips industry from Taiwan, China +1, Japan and South Korea 1950-1990 to 2025-2040
04/16/2025
By 2025 bad economic theory was discarded, a clear path for the CHIPS manufacturing industry in the US is set forth and actions taken to do this. Morris Chang founder of TSMC got 20 years of experience at Stanford, MIT, Texas Instruments, everything he learned he learned in the US till Taiwan invited him to set up plants in that country in 1985. Bad economic theory that let this happen is being discarded in 2025. US decision by US Congress and the White House, the whole Nation, is to make Chips in America in 2025. Over 2025-2040 the entire Chips industry will be in the US similar to 1950-1990.
Linked Articles
Inside Taiwanese Chip Giant, a U.S. Expansion Stokes Tensions
NYTimes.com 04/16/2025
Tariffs fallout: The US will struggle to take on Asia over chipsBBC News 04/16/2025
"Pay their fair share of taxes" Biden asks of corporations showing 2017 predecessor tax cuts did not increase investment and added $100 billion yearly to the US Deficit
03/08/2024
By paying their fair share of taxes Biden says in State of Union speech to US Congress 2024 one can increase investment in education, affordable childcare and better living for seniors in their homes, and still cut the deficit by hundreds of billions of dollars. What is fair share? Certainly not zero percent that 55 of the largest corporations paid on $40 billion in profits in 2020, and corporate minimum tax was introduced at levels of 15% for which most ordinary Americans are not eligible for. And certainly not 8.2% that Biden said was being paid by 1000 billionaires in the US. Not a single penny more is being asked of hard working Americans earning less than $400,000 a year. Biden said he wanted to see the corporate minimum tax at 21% not 15%, and the top corporate tax rate set at 28% not the 21% that it was reduced to in 2017 from 35%. In short his predecessor turned to help companies and billionaires profit from the popular distress of the shipping of jobs overseas and the 2009 financial crisis caused by Bank executives without investing the nation's capital resources in manufacturing at home in scale to match and exceed China's. And at the same time neglecting to do anything about the concerns of the people for ease of living- affordable access to childcare, preschool education, education, health care to match Europe/China/India in quality and cost, and aging transportation infrastructure of airports, subways, roads and bridges. The savings when this is done properly go to cut the deficit by over 4 trillion dollars and keep America as the leader of all G-20 economies.
Linked Articles
Biden Draws Sharp Contrast With Trump in State of the Union
WSJ 03/07/2024
Biden Pushes More Corporate-Tax Hikes to Draw Contrast With TrumpWSJ 03/07/2024
Li Keqiang and the era of Openness in China 1977-2023
11/02/2023
LI Keqiang was able to pass entrance exams to Peking University in 1977 after entrance exams were reinstated following Mao's death. He led the modernization of China during the 2000-2022 period two decades of fast growth turning China into a middle income industrialized country after centuries of decline. During this period China urbanized at a rapid rate and Li's advanced studies focused on urbanization. It was also a period when China realized the damage done to the environment and quality of air, water, with haphazard growth, and shifted to climate change action through focus on solar energy and limiting use of coal.
Linked Articles
China Mourns Former Premier Whose Death Hovers Over Xi Jinping
WSJ 11/02/2023
Next Premier Came of Age in Era of OpennessWall Street Journal 11/16/2012
The situation of chronic or endemic coronavirus in places with high vaccination rates - Portugal and New York City
10/25/2021
Chronic or endemic coronavirus in New York with 76% fully vaccinated and Portugal with 85% fully vaccinated is a situation in some places. This still means 15-25% of people that are unvaccinated are at risk and with vaccine protection waning without a booster shot the risk of a fourth or a third of the population still at risk. The lifting of preventive steps such as social distancing, masking and other actions plus the shift to indoor, reopening of schools and colleges, could still lead to a surge.
Linked Articles
Endemic Covid-19 Has Arrived in Portugal. This Is What It Looks Like.
WSJ 10/24/2021
New York City Inches Toward Covid-19 Becoming EndemicWSJ 10/25/2021
Fukushima, Japan, ten years after the nuclear meltdown and tsunami
03/11/2021
Linked Articles
‘There’s No Town Left’: Fukushima’s Eerie Landscapes
NYTimes.com 03/11/2021
Japan’s Tsunami and Nuclear Disaster Unleashed a $300 Billion Effort to Rebuild a HinterlandWSJ 03/10/2021
What Bill Gates and France had in common in the fight for health preparedness
05/11/2020
France had learned lessons from SARS epidemic and prepared for the H1N1 epidemic at the time that Bill Gates of Microsoft was pushing for greater awareness of public health priorities. Today Gates says this was not enough, that he did not do enough and feels terrible about it. The irresponsible banking practices that caused the financial crises first in the global financial crisis of 2009 and then in the eurozone financial crisis that followed by 2011 led to the ditching of the pandemic preparedness effort in France and Britain. In all of the western world including the U.S. austerity practices were the response without addressing the root causes of financial crises. Investments in public services and infrastructure were neglected leading to a level of unpreparedness that is shocking. Countries in lesser developed countries with more consciousness of the importance of public services and care of the vast majority of people were better protected in the crisis as a result than the more developed countries.
Linked Articles
WSJ 05/11/2020
Pandemic disarmament: Why France was ready for Covid-19 a decade too soonFrance 24 05/17/2020
China's credit ratings downgrade for rising debt in 2017 and the echoes of Japan in the 1980's
05/25/2017
Linked Articles
Moody’s Cuts Its China Rating for the First Time Since 1989
WSJ 05/24/2017
In Downgraded China, Echoes of Japan’s Boom and BustWSJ 05/24/2017
Shinzo Abe and Japan's personal approach to diplomacy with the Trump administration
02/10/2017
Linked Articles
To Bond With Trump, Japan’s Abe Takes a Swing at Fairway Diplomacy
WSJ 02/10/2017
Trump targeted Japan during the campaign. Now its prime minister is embracing the new president.Washington Post 02/10/2017
Speaker Paul Ryan's House seat in Janesville, Wisconsin- improving economy in a U.S. midwestern factory town and the debate on trade, help for working class families
08/10/2016
The unemployment rate in Janesville, Wisconsin drops to 4.4% in May 2016, according to the Bureau of Labor Statistics. It was over 9% following the closing of the GM plant and the recession from the 2008 financial crisis. A working class town Janesville was hit hard by the closing of the GM plant in 2008. Amy Goldstein of the Washington Post describes the impact of losing about 5000 jobs at the GM plant, and the problems typical of most manufacturing dependent towns. Throughout the period since being first elected to Congress in 1998 Ryan has continued to be able to get elected on the basis of faith, family and public service, even though some of his policies may not have helped the poor and elderly or laid off workers. Ryan voted for rescuing the auto industry and worked hard to keep the GM plant, and listens to his constituents, and as the economy recovered by 2016 won easily in this old industrial midwestern town. His influence in national politics gives Janesville an opportunity to be heard, as it tackles problems common to many midwestern towns in the U.S.
Linked Articles
Could Paul Ryan’s ideas help his struggling home town? - The Washington Post
Washington Post 08/19/2012
Paul Ryan beats outsider 'mini-Donald Trump' challenger in Wisconsin primaryThe Guardian 08/10/2016
The U.S. manufacturing sector and the Trans Pacific Trade Agreement- U.S. manufacturing job losses and why leading candidates Clinton, Sanders, Trump and Cruz oppose it
01/25/2016
Linked Articles
Trans-Pacific Trade Pact Would Lift U.S. Incomes, but Not Jobs Overall, Study Says
New York Times 01/25/2016
What’s Our Duty to the People Globalization Leaves Behind?New York Times 01/26/2016
Ford Motor's higher profits from larger vehicles in the U.S. and China in 2015- the redesigned F-150 pickup, SUV's, with higher fuel efficiency, lower gas prices and lower interest rates
07/29/2015
Linked Articles
GM, Ford, Flourish Out of the Limelight
Wall Street Journal 07/29/2015
Ford Bets on Fancy PickupsWall Street Journal 07/29/2015
How the Trans Pacific Trade Partnership Agreement (TPP) fell apart- (2) fears of more job losses in the U.S. and economic impact on output in the U.S. of less than 0.5 percent
06/13/2015
Linked Articles
Labor’s Might Seen in Failure of Trade Deal as Unions Allied to Thwart It
New York Times 06/13/2015
Pacific Trade Deal Likely to Have Narrow ReachWall Street Journal 08/01/2015
The Obama administration's efforts on the Trans Pacific Partnership (TPP), after losing allies in Asia and Europe to the Asian Infrastructure Investment Bank
04/17/2015
The Obama administration pushes a free trade pact that includes the U.S., Canada, Mexico, Peru, Chile, Australia, New Zealand, Japan, Malaysia, Singapore and Vietnam. This free trade pact is now seen as a U.S. effort to counter China in the Asian region. India, UK, Germany, France, Italy and other European countries decided to join the Asian Infrastructure Investment Bank sponsored by China, on its merits, after the U.S. refused to join.
Linked Articles
TPP: Momentum on Trade Deal Bolsters U.S., Japan Efforts to Counter China
Wall Street Journal 04/17/2015
Lawmakers Introduce ‘Fast Track’ Trade Bill, Triggering Democratic DiscordWall Street Journal 04/17/2015
How low interest rates from the banks created 2009 financial crisis were squeezing Americans and most of all seniors
06/05/2024
In 2010 Charles Schwab pointed out that low interest rates were squeezing Americans, most of all seniors on fixed incomes and pensions. In 2024 first quarter the higher interest rates in one quarter alone created an additional $770 billion in interest and dividends for Americans, many of them seniors, according to US Federal Reserve. This is the damage done by the recklessness of the banks and financial sector and seniors have paid heavily for this and for the wars in the Middle East which reduced the growth potential of the US economy that were embraced by Reagan and Bush, Trump and Obama. The war money was not used to build new infrastructure to replace the old as it should have been leading to China having new infrastructure and America's being aging and worn out.
Linked Articles
Low Interest Rates Are Squeezing Seniors
Wall Street Journal 03/30/2010
Americans Have More Investment Income Than Ever BeforeWSJ 06/05/2024
Reagan, Greenspan and America's lost years 1980-2009
11/17/2023
It was in this period that many of the problems that we face today were created through policies of low interest rates, deregulation and financial market speculation leading to the financial crisis of 2008. At the beginning of the Reagan administration in 1980 China was still a country of bicycles and largely rural, by 2009 it had transformed itself into the largest manufacturing nation in the world and continued to 2023. In the US financial deregulation and lack of health care for all allowed financial interests to become the dominant force in the economy in a speculative way , and defunded manufacturing, infrastructure and public services. The work of FDR, Truman Eisenhower and Kennedy unraveled, Clinton, Obama and Trump continued that decline.
Linked Articles
Puerto Rico Was Supposed to Be John Paulson’s Paradise. Then Came the Lawsuits.
WSJ 11/16/2023
Trader Made Billions on SubprimeWSJ Jan 15 2008 01/15/2008
The danger to the US, European Union and India of concentration of chip production in Taiwan
06/20/2022
Concentrating 92% of chip production that powers cell phones, laptops, computers in Taiwan makes no sense. Five fabs are concentrated in just 1 Science Park- Hsinshu Science Park in Taiwan. A missile attack could take out half of the world's chip supply. After Ukraine the US, EU and India, South Korea, Japan need to take this seriously. Action taken now will bring results over 3-5 years. The Free World depends on creation of new supply chains using manufacturing in the US, EU, India and Japan.
Linked Articles
Opinion | China Is Losing Its Bet on Chips
WSJ 06/20/2022
Opinion | Semiconductor Dependency Imperils American SecurityWSJ 06/20/2022
Mental health crisis during coronavirus pandemic- Japan and France
05/05/2021
Linked Articles
Covid-19: French mental health ‘deteriorating’ amid lockdown, minister says
France 24 11/23/2020
Japan: 'Minister of loneliness' tackles mental health crisis | DW | 23.04.2021DW.COM 04/25/2021
Trump, Microsoft and the ban on TikTok
08/04/2020
Microsoft would have to make a large outlay for TikTok with uncertain prospects as TikTok is losing money. The closer it gets to the U.S. ban date of September 15 the steeper the drop in value of TikTok.
Linked Articles
Trump Says U.S. Should Get Slice of TikTok Sale Price
WSJ 08/03/2020
Microsoft May Test the Faith With TikTokWSJ 08/03/2020
Carlos Ghosn and Nissan discontent in Japan- the failing Renault-Nissan alliance
12/18/2018
Renault-Nissan's failure to invest in Japan and the lack of interest in Nissan under Ghosn added to worries in Japan about the compensation of Ghosn being larger than all nine top executives of Nissan combined. A deep sense of affront was felt in Japan as one executive put it -"where is the transparency and where is the frugality." This special report by WSJ shows how the ego based executive which is not typical of Japan failed Nissan. It also shows why this type of management is not healthy for companies or the employees and all stakeholders. Its hard driving nature with unhealthy lifestyles is also becoming unpopular today.
Linked Articles
The Fall of the House of Ghosn
WSJ 12/16/2018
Ghosn’s U.S. Push Irked Nissan ExecutivesWSJ 12/18/2018
Robert Lighthizer, U.S. Trade Representative and the effort to renegotiate NAFTA, ensure a level playing field in international trade
05/19/2017
In a 2010 article Lighthizer described the disadvantages for the U.S. in existing trade practices, especially with China. We covered Lighthizer at that time. In 2017 Lighthizer takes up the arduous task of renegotiating NAFTA, and ensuring a level playing field in U.S. trade relations with Germany, China, Japan, and other countries.
Linked Articles
New York Times 11/12/2010
Trump Sends Nafta Renegotiation Notice to CongressThe New York Times 05/18/2017
How U.S. economic growth and interest rates can play out in ways contrary to what is expected for 2017-2019
12/14/2016
Linked Articles
Will the Trump Era Bring Higher Interest Rates? Don’t Count On It
The New York Times 12/14/2016
A Trump Economic Boom? The Fed May Stand in the WayThe New York Times 12/13/2016
The pause in the U.S. economy with the May 2016 U.S. jobs report showing 38,000 jobs added
06/06/2016
Krugman discusses the U.S. May 2016 jobs report from the Labor Department. He says it will be harder to come up with a response to the political uncertainty in an election year, especially now that rates are near zero.
Linked Articles
Sharp Fall in U.S. Hiring Saps Chance of Fed Rate Increase in June
The New York Times 06/03/2016
A Pause That DistressesThe New York Times 06/06/2016
The devaluation of the yuan in August 2015 as China responds to lower exports, the appreciation of the euro and the yen, and the U.S. Federal Reserve's plan to raise rates
08/12/2015
China's currency appreciated 9.2% against the euro and 57% against the Japanese yen with its soft peg to the dollar in 2013-2015. The 8.3% decline in China's exports for July 2015 over the prior year led to the policy action to devalue the Chinese currency, the yuan on August 11, 2015.
Linked Articles
China is trying to save its economy with a cheaper currency - The Washington Post
Washington Post 08/12/2015
China’s Devaluation GambitWall Street Journal 08/12/2015
Hillary Clinton's plan to change the way the capital gains tax works to encourage long term investors
07/27/2015
Under Hillary Clinton's plan the lower rates for capital gains tax would be introduced with a sliding scale at the highest tax bracket of 39.6%, with the rate gradually declining in year 4, and the rate not reaching the current rate of 23.6% (20% plus a 3.6% surcharge) till year 6 following the investment. Clinton calls it a way to restrain "quarterly capitalism," disincentivize "cut and run shareholders," and incentivize investors "to build companies." One unintended effect of this could also be the shift away from investments that do not support improving productivity levels, to investments that have a longer horizon and have a material effect on productivity growth. Especially considering the low productivity growth improvements in the last decade, as productivity growth will be needed to break out of a period of stagnant wages.
Linked Articles
Wall Street Journal 07/29/2015
Hillary Clinton Aim Is to Thwart Quick Buck on Wall StreetNew York Times 07/27/2015
How the NASDAQ in 2015 has changed since 2000, and the change in the interest rate environment and inflation- critical factors in the new investment environment of 2015
04/24/2015
Linked Articles
Why This Old Bull Market May Not Be Ready to Die
Wall Street Journal 04/26/2015
The New Nasdaq Record, Set By a New NasdaqWall Street Journal 04/24/2015
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