 All right, here's some good news, I guess. I guess in some universe this is good news. This is what's happening to U.S. manufacturing. U.S. manufacturing is going through a massive boom. This is factory construction spending. This is the amount of dollars spent on construction of factories since 2016 or 2017. And if your standard for U.S. wellbeing is, like it was I think for Trump for much, manufacturing, how much manufacturing, how much new factories are we planning? Then you have to say Biden has succeeded where Trump has failed during Trump administration, mostly flat. Biden, it's gone through the roof. Factory construction spending has doubled since early 2022. Wow, you go. And then maybe you step back and think about this for a minute. Why? What has happened? What has changed? And one of the principles in economics is if you subsidize something, if you provide a strong monetary incentive for people to do something, they're likely to do it and do a lot of it. If you subsidize something, you get more of it. Generally, if you tax something, you get less of it. If you subsidize it, you get more of it. No, this is all pure subsidies. This is the consequence of the CHIP Act. This is why you've got a lot of billions and billions of billions of dollars going on here invested in a new CHIP manufacturing because the US government is gonna print money or borrow money to pay you to build the CHIP manufacturing plant. So you do it. And this is a consequence of the Inflation Reduction Act which basically printed money or borrowed money to give people money to do all kinds of things, but a lot of it was about building EV plants, like the vehicle plants, building batteries, subsidizing batteries. So this is all government subsidies. And look, government subsidies create economic activity. They allocate capital to where the subsidy is targeted. There's no question about that. Subsidies are very effective. If your goal is to get lots of manufacturing construction, just subsidize factory construction and it happens. And this is subsidizing the construction but it's also subsidizing the product that the answer a lot of people are rushing to build the product so that when they deliver it, it gets subsidized. This is government. This is government, quote, stimulating the economy. And this is government creating demand for the products that central planners in the government have decided are good. The problem with this, of course, is this is another broken window fallacy. This is, the money has to come from somewhere. The money doesn't just proof appear. The money is not costless. Any money spent on constructing these factories is not being spent on something else. Something else that has greater utility to people than this. How do we know it has greater utility people than this? Because people are choosing to spend it elsewhere rather than here. This is, at the end, government coercion. This is the use of force on dictating where money should be spent. The choices made in the market are choices made voluntarily. Those choices did not lead to a manufacturing boom. What is leading to a manufacturing boom is government coercion. Therefore, this is not, this is taking money from people who would have spent it differently, who would have invested it differently, and investing it the way the government wants. Now, I don't know exactly how this will end. It won't end well. I don't know when. I don't know how. I don't know how it will manifest itself and not any well. A lot of it will be, as I've said many, many times, one of the things about economics is it's very hard to say, this caused that, particularly over long periods of time because there's so many moving pieces. But what I will say is that all of this stuff, what it will cause is slow economic growth, stagnation, and a real challenging economy in the decades to come. Potential negative growth, but certainly very slow positive growth, if any at all. This might end with a lot of companies bankrupt who invested in these industries that the government is then subsidizing that then turn out to be maybe suboptimal, maybe not that profitable, even with the subsidy. Maybe some of these factories that are built now become obsolete very quickly. Maybe the construction is going to be shoddy. Who knows? Tom says Snoop, Snops or whatever they call it, is listing the Starlink and Substory as false. I have a screen image of them listing it as true. Now, maybe my source is wrong in this, but I think it was the whole Snoop thing, snop, whatever, it was listed on Twitter. And as a consequence, my guess is they changed and they realized they made a mistake. But the original was true and I have a screenshot of that. All right, anyway, government manipulating economy, you have it right there, doesn't end well. These things never do end well. So, yeah, we are, we are heading in a manufacturing boom, but where is the bus? There's a bus somewhere where all that money would have gone, if not for these distortions. Part of the distortions, by the way, are just the fact that the government has taken on more debt in order to fund all this and that budget deficit will have to be paid one day with taxes, with inflation, with some future distortion of the market, which will be much more negative and much more harming than this might be a little positive. Central planning doesn't work. Maybe you can let your politicians know. 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. 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