in

Biden loves corporate welfare and Trump loves money printing.

Sabrin Murray 2.26.18 04

Join Paul Mladjenovic and me for a look at the 2024 presidential race. To register for the Zoom session, visit, https://www.ravingcapitalist.com/DEBATE/   Hope to see you on May 7.

Last Thursday President Biden visited Syracuse to tout a $6.1 billion grant to Micron Technology to build three chip making facilities in Boise, Idaho, and upstate New York.   This is one of many grants that have been made available by the 2022 CHIPS and Science Act.  Curiously, Micron will invest up to $125 billion over the next 20 years, which begs the questions: why does Micron need taxpayers’ money to help build its plants?  (There is no such thing as “government money.  All monies spent by governments come from taxpayers or the printing press.)

Murray’s Newsletter is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

In addition, Samsung, a South Korean company, received a $6.4 billion grant because it will expand its Texas operation.  Intel, which was awarded $8.5 billion, will increase production in four states.

Biden’s justification for the fleecing of taxpayers is that tens of thousands of jobs will be created and that increasing chips production in the US is also a vital national security issue.  Anytime a politician utters the term “national security” you know taxpayers are about to get shafted.

Chips corporations are making money hand over fist.  They do not need government grants to expand their operations. 

The CHIPS Act is nothing more than a government bribe and another example of corporate welfare. 

If a bank robber gave some of his ill-gotten gains to a struggling business or businesses which then became successful, should the bank robber be applauded for saving a marginal business?

But in this case, chips companies have the resources to fund their own investments, they do not need Biden to hand them multibillion dollar checks. 

In other words, Biden’s economic policies are no different than Mussolini’s.

Last week the Wall Street Journal published an article about discussions Trump advisors are having about reducing the Federal Reserve’s “independence” in a second Trump administration.  If Trump and his advisors were “sound money” advocates, they would call for the Fed to be abolished or at least propose the Fed stop manipulating interest rates and stop creating money out of thin air. 

But noooo, Trump is a self-described “low interest” man, which means he wants to Fed to inflate the supply of money to keep rates artificially low. 

In short, Trump is an inflationist, pure and simple. 

Both Biden and Trump support the statist quo.  They both embrace big government policies that have failed to produce sustainable prosperity and peace abroad. 

In the May 7th debate, I will point out why we have a one-party system and what needs to be done to put America on the path to a limited government republic. 

******************************************************************

Every Wednesday at 11:05am talk show host Gary Nolan and I discuss the economy and politics.  The Fort Myers Mises Circle presentations are available onlineMy Ludwig von Mises Lecture at the Institute is also online

Latest podcast on healthcare with host Johnathan Westover; Incentivizing wellness podcast with Bernadette Pajer; the Human Action podcast with Bob Murphy on my American journey; Joseph Cotto and I discuss Argentina and the US, and the Human podcast with Bob Murphy on healthcare; Robert Scott Bell and I discuss healthcare on the second hour of his podcast.

Murray Sabrin, PhD, is emeritus professor of finance, Ramapo College of New Jersey. Dr. Sabrin is considered a “public intellectual” for writing about the economy in scholarly and popular publications. His book, The Finance of Health Care: Wellness and Innovative Approaches to Employee Medical Insurance (Business Expert Press, Oct. 24, 2022), and his other BEP publication, Navigating the Boom/Bust Cycle: An Entrepreneur’s Survival Guide (October 2021), provides decision makers with tools needed to help manage their businesses during the business cycle.  Sabrin’s autobiography, From Immigrant to Public Intellectual: An American Story, was published in November, 2022.

Murray’s Newsletter is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

What do you think?

conk

Written by CONK!

Sabrin Murray 2.26.18 04

The Great Debate on May 7

Sabrin Murray 2.26.18 04

All governments are terrorist organizations