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this post was submitted on 14 May 2024
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US is being seriously outcompeted at its own game by China, and this is it slowly imploding in response. Genuinely think we're on the steep slope of decline of US economic hegemony.
This is after passing huge subsidies with the IRA and CHIPS act. Very interesting!
How the hell did anyone see that law and not think that the rich would just pocket the "subsidy".
I seriously don't get it either. Comparing how the US does subsidies to private companies to how China does investment in state owned (whole or in part) enterprises really lays bare how our whole system is just intended to print money for rich people.
They will work about as well as the heavily-funded "defensive lines" in northern ukraine