Manufacturing jobs my foot

(Reuters) — Foxconn Technology Group is reconsidering plans to make advanced liquid crystal display panels at a $10 billion Wisconsin campus, and said it intends to hire mostly engineers and researchers rather than the manufacturing workforce the project originally promised.

https://venturebeat.com/2019/01/30/foxconn-may-not-build-lcd-panels-at-wisconsin-cites-labor-costs/

It costs at least $1M to create one hitech manufacturing job in the US. Why would you do it for a commodity product?

Bullshit eaters - 78%

After inheriting a growing economy, the guy presided over the creation of an enormous $1T pro-cyclical budget deficit through increasing military expenditures (for what?), subsidizing corporate profits with no impact on investment; he imposed tariffs that subsidize few steel producers and hurt all consumers, including the oil and gas industry; imposed trade tariffs that increase consumer prices, etc. And his base loves it. Idiots!

BTW, even if you like the newly appointed judges it's the Federalist Society that created the list and gave it to the Congress. He just rubber stamped the selection.



https://d25d2506sfb94s.cloudfront.net/cumulus_uploads/document/hh0961cq54/tabs_Trump_Tweets_20190128.pdf

Schwarzman at Davos

He projects growth no more than 2.5% this year, with corporate profits on the "disappointing" side. He's also hesitant to perceive the current corporate (21%) taxes as permanent.

"Blackstone's Schwarzman Says U.S. Slowing, But No Recession in 2019" (Watch on YouTube)

Кто виноват и что делать?

Dalio writes:

There are four types of levers that policy makers can pull to bring debt and debt service levels down relative to the income and cash flow levels that are required to service them:
1) Austerity (i.e., spending less)
2) Debt defaults/restructurings
3) The central bank “printing money” and making purchases (or providing guarantees)
4) Transfers of money and credit from those who have more than they need to those who have less.

The macro options are isomorphic to:
1 the Austrians;
2 Friedman, more or less;
3. Keynes;
4. Marx.

In Davos this year, many realized that should the developed world hit the next debt crisis, option 4 is quite probable because 2-3 have been exhausted in the previous cycle, while 1 is not feasible given the rise of populism, esp. in its nationalistic version.

upd. Furman and Summers argue that deficit financing is ok in downturns, i.e. 3 is the best option. https://www.foreignaffairs.com/articles/2019-01-27/whos-afraid-budget-deficits