Posted on 06/09/2023 6:35:12 PM PDT by ChicagoConservative27
Last year, production at American factories increased — and so did the production of factories themselves.
According to data from the Census Bureau released last week, construction spending by US manufacturers more than doubled over the past year. For April 2023, the annual rate reached nearly $190 billion compared with $90 billion in June 2022, with manufacturing accounting for around 13% of non-government construction.
The US government has offered billions of dollars in subsidies for the production of electric vehicles and solar panels to compete with countries such as China and to fortify US leadership in sectors including clean energy. According to the World Bank, China makes up around 30% of global value added from manufacturing, about double the US. Over the last few decades, Asia has taken up a greater share of global factory manufacturing.
(Excerpt) Read more at businessinsider.com ...
My taxdollars wasted, and I have about zero input on where it goes. Then the US government sabotages their own efforts and give China a pass on everything to our detriment.
Building factories in the US. I guess that means Biden will soon want to end TRUMP’S TARIFFS ON CHINA!
China has been building Ghost Cities, highlighting Chinese practices of over-development and dependence on housing as an investment strategy.
In the US we seem to be building lots of factories that make products no one really wants. Seems just as dumb.
The only “subsidy” should be really high import tariffs.
Tesla, solar and battery plants make the news…
Over the past few years I have observed the building of many warehouses in large industrial areas for all the Chinese crap coming into the US.
The only “subsidy” should be really high import tariffs.
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Typical Free Republic anti manufacturing/industry commentary. I’ve noticed it for years.
We’ve grown this woke economy over the last 40 years with massive subsidies for nonessential businesses but they’re bitching about this.
They want to work from home .......the essential work of any civilization.(sarcasm)
It’s Business Insider folks. The Marxist fake business site
Building subsidised EV and solar cell and lithium battery factories is counterproductive economically and every dollar that is put into those projects that comes from the taxpayers is a ne loss to the economy. If and when such things become economically profitable they will be built with private money. Forcing economic change by government is anti market and destructive.
sounds like AI to me. They are going full marxist with AI. You won’t have a job, but they will have their goodies.
Weird though because AI can’t pay taxes to fund their goodies.
Still wondering how this will all work out when 2/3rds of folks are out of work and those jobs are taken over by entities that do not pay taxes.
If you were counting on SS or any other retirement plan, think again. This does not work out in the end. Nonetheless they push on.
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