 Biden economics, Bidenomics is a new term. I talked about it a little bit last time. We talked about a manufacturing dramatic increase in the building of manufacturing plants in the United States over the last year and a half since the CHIP Act was passed and the Inflation Reduction Act, which is both investing heavily in infrastructure, primarily manufacturing infrastructure in the United States, and this is viewed by everybody as well. Look, Biden is succeeding. This is amazing. This is what we always should have had, more central planning, industrial planning. The Republicans are actually trying to out-compete the Democrats by saying, yes, we need more of this. We'll give it to you as well. It's not just the Democrats. In other words, the Republicans are completely embracing Biden economics. There was a big conference put on by Compass, USA, the big kind of new right organization in DC by Cass. Cass is the guy in charge of this. Anyway, the government is gonna spend, we're gonna figure this out. This is great. Well, the latest of this piece is that as part of the infrastructure law that was passed, which was bipartisan, I'll continue to remind him, there are gonna be billions and billions and billions of dollars distributed and starting now to build a high speed internet all over the United States. The government is gonna deploy billions of dollars. They're gonna decide which states get them and how much they get, primarily for areas that don't yet have high speed internet, primarily for areas that have been neglected by the market. But the idea here is for the government to roll out massive spending on internet. 40 billion dollars for high speed internet. This will create, of course, many jobs. This will, of course, connect people to the internet so they can be more productive. This will increase the, what do you call it, the feasibility of people to move to rural America and work from home, because I'll have high speed internet now. I mean, the delusion of power, the delusion of central planning, the delusion of all this, I mean, as I said the other day about manufacturing, this is the classic broken window fallacy. You see the money being spent, you see economic activity, which you ignore other alternatives. What you ignore is what could have been done with that money. What you ignore is what the market, how the market would have allocated that money to actually desirable uses, not to the uses desired by a central planner, by government authoritarian, but by the actual people by the marketplace. Part of this massive investment in America that is part of this Inflation Reduction Act is in addition a massive investment in nuclear power. Now, I happen to like the idea of nuclear power. I want more nuclear power. I want more high speed internet. I think both are good things. I just want the government to stay out of it, but the government is going to be spending huge amounts of money. Again, billions of dollars, the Biden administration is, to advance nuclear power because it's green. And, you know, so right now, a majority of Americans want more nuclear power. And the federal government has opened up the coffers and they are getting ready to spend massive amounts on nuclear power. The government is now just giving a $1.1 billion grant to fund this fund to California to keep the Diablo Canyon. Diablo Canyon nuclear power plant open in spite of the fact that California wanted to close it because it's getting old. In addition, there are plans now to build new nuclear power plants all over the United States. Of course, these are only plans. They're not reality yet. The real challenges here, challenges which I don't think are being dealt with, the government is much better throwing money at problems than actually dealing with the challenges. Three challenges. The first is cost because of regulations, because of controls, because of all the environmental and safety and the millions of regulations that have to go through everything. Nuclear power reactors to build a still, even the mini nuclear power plants, super expensive, somewhere double probably the cost of what would make them economic on a per kilowatt scale. And whether any of these projects will actually be built, given these costs, who knows? Second question, and this relates to Russia, is where do they get the fuel? How do you get refined uranium? How do we get the uranium needed for the fuel? It turns out that Russia dominates uranium processes, processing. And indeed, the nuclear power plants in the United States that they are still buying the uranium from Russia, a billion dollars a year, unbelievable. This is low enriched uranium, high, sorry, a high assay low enriched uranium. Russia is the only commercial supply of it. Now, they're trying to figure out other places to buy it. They're trying to figure out how to do it in other places, but right now Russia is it, right? We're not talking about nuclear bomb grade uranium. We're talking about, I guess, this high assay low enriched uranium, which is used for nuclear power plants. For example, the power plant that was likely to be built in Wyoming, in a coal town in Wyoming by Terra Power, I think this is the company Bill Gates supports, is now delayed opening for two years into the future because it can't get uranium. Can't get uranium. Department of Energy in the United States is scrambling to figure out how to get uranium. Now, the raw uranium is in other places. The question is, how do you get it enriched and that enriched uranium? And then what do you do with the spent fuel? Of course, the Terra Power, I think, uses spent fuel in order to, or one of these nuclear power plants actually uses spent fuel. So, I mean, that would be the solution is to open a bunch of spent fuel facilities. And then finally, I think this is funny. Finally, the problem with building a lot of nuclear power plants because the plan is to triple nuclear power plant, nuclear energy production in the United States by 2050. Triple it. Today, it produced about 19% of all the electricity in the U.S. The idea is to triple the amount of electricity, not necessarily the percentage, but the amount. For that, the United States reckons they will need 375,000 workers. In the near term, they're going to require skill trades, electricians, metal workers, fabricators, construction workers. These people don't exist. We don't have 375,000 workers who can do these works. Right now, there's a massive shortage of exactly these kind of workers, skilled blue collar labor. By the way, they make a good living because they're in short supply. So the biggest problem, one of the big problem beyond regulations, costs, controls, the government might say we want nuclear power plants, but the regulatory agency doesn't approve them on all that stuff, beyond nuclear waste, beyond all those. No people to build the plants. Not enough construction workers. The Santas has a solution for this, don't worry. So, and this is one of the big problems in this idea of reviving through bi-denomics, reviving US manufacturing. Who's going to work at these manufacturing plants? Where are the workers? There's a massive shortage of workers right now. I mean, unemployment is still like 40, 50 year lows. Who's going to work there? Anyway, I'm not a fan of any central planning. I'm not a fan of money flowing to these things. I do hope though, that what will result from this is trimming down regulations, lowering the cost of producing a nuclear energy, and maybe significant freeing up of that market to allow private enterprise to go and build nuclear power plants, rather than the government deciding who the winners and losers are and deciding how much money to spend and pouring money into white elephant projects all over the country. Let's leave it to the private sector. That's not the plan though. Again, both Democrats and Republicans are committed now, committed whether it's the Santas or Trump or any of the Republicans or Biden or RFK or any of the Democrat, they're all committed to managing economy and determining how to use, how to allocate resources, picking winners and losers and focused on increasing manufacturing jobs in areas and fields and things that the government as a central planner will decide. Basically, even though China is in decline, China has won because what the United States is doing is embracing the Chinese model. Of, you know, was it public private partnerships? In quotes I put that. Thank you for listening or watching the Iran Book Show. If you'd like to support the show, we make it as easy as possible for you to trade with me. You get value from listening, you get value from watching, show your appreciation. You can do that by going to iranbrookshow.com slash support by going to Patreon, subscribe star locals and just making a appropriate contribution on any one of those, any one of those channels. Also, if you'd like to see the Iran Book Show grow, please consider sharing our content and of course, subscribe. Press that little bell button right down there on YouTube so that you get an announcement when we go live. And for those of you who are already subscribers and those of you who are already supporters of the show, thank you. I very much appreciate it.