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Cake day: June 14th, 2023

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  • A lot of these subsidies (both in the US and China) are implicit. Chinese state rail networks operate at cost, allowing cheap transportation of materials and labor. American borrowing is heavily subsidized through the Fed Credit Window, which keeps rates in the low single digits while corporate bonds and consumer loans can be 2x-30x as high. Both countries cut corners on environmental enforcement and subsidize waste management. Both countries subsidize education and incentive R&D through their university systems.

    The real benefit BYD enjoys - even above its Chinese peers - is vertical integration. They own everything from mining interests to technology patents to dealerships. This is a deliberate consequence of Chinese trade policy, which requires foreign investors to partner with Chinese nationals in order to own and operate capital. Consequently, Berkshire Hathaway - a large early investor in BYD - cannot dictate Chinese vehicle manufacturing policy from a private office in Omaha. Chinese locals benefit from the innovation, the domestic capital, the experienced labor force (which can migrate to local competitors), and the increased economic activity it produces.

    China is insourcing it’s wealth aggregation, which has a cyclical compound benefit over time.




  • Prosecuted him for what?

    Juanita Broaddrick and Paula Jones, just for starters. The illegal military strikes into Iraq in '93 and Sudan in '98 and the bombing of the Chinese Embassy in '99 which killed three journalists. Their involvement in the Arkansas Prisoner Blood Sales scandal, having appointed and defended a number of people involved.

    Then there’s the more obscure stuff. The Clinton/Epstein connection, for instance. US support for the Yeltsin government’s Rule By Decree following a bad electoral turn and the subsequent cannibalization of Russian democracy. The assorted corporate kickbacks and money laundering scandals that came out of the Clinton/Walmart relationship. Yadda yadda yadda.

    Bush Jr wasn’t going to touch any of that because he was up to the gills in corrupt practices himself. But maybe if the GOP didn’t suck shit…



  • people forget Hamas was backed by Israel. Doesn’t mean Hamas is an Israel asset

    It’s the age old “backing moderate rebels” strategy. Divide and conquer. Netanyahu armed Hamas to undermine The Palestinian Authority, then turned them into a Boogeyman the moment they had an electoral win.

    Hamas was an “asset” in the sense that it gave Israelis an excuse to continue ethically cleansing Gaza.

    Just like they did with the Taliban originally to fight the Soviets.

    So easy for westerners to ignore how the fundamental local appeal of the Taliban was to break the hold of the opium cartels (which the CIA/MI6 loved).

    As soon as the US toppled Mullah Omar’s government, their allies in the drug trade rushed back in to rebuild the old opium trade. When they were finally pushed out 20 years later, the opium traffickers were pushed out with them.