"China's Six Networks is a comprehensive plan for water, electric grids, computing power and communications networks, underground pipes, and logistics. For this year China’s investment in those networks will be over a trillion dollars US."
It's not rocket science. When a country builds out its civilian and industrial infrastructure rather than wasting trillions on diminishing military dominance, great things are poised to happen.
China graduates 1.3 million engineers EVERY YEAR. Most of them aren't working in the defence industry. They're making China a better place to live.
In China, the "Field of Dreams" is a reality--build it and they will come. Historically, China has always been big on infrastructure development to fuel the national economy. As Hudson and a few others remark, China's properly using Capital in a manner the West long abandoned. Western Finance Capitalists only do what fattens Western Financial Capitalists, not what feeds national economies. Thus, Bessent has only blanks as financial ammo to use against Iran.
All true in my view, Karl. Western capitalists elevated their financial ideology to the level of a religion. By that I mean, it can't be questioned or modified, only pursued to its sacred end-point: pure financialism with those in control (the Chosen Ones) enriching themselves beyond measure.
Bessent's "most devastating sanctions in history," a phrase we've heard with every new sanctions package the USA/EU have rolled out against China, Russia and Iran, will not have any strategic impact. Iran's spent decades learning how to work around those sanctions, and alternative financial mechanisms are now in place.
BTW, the market heard Bessent's threat, thought for about two seconds, and then the price of oil dropped. That wouldn't happen if the market thought that the US could shut off Iranian oil. So besides you and me, a lot of dyed-in-the-wool capitalists with sharp pencils think that Bessent is firing blanks.
It's the classic 'Goose That Laid the Golden Eggs' story.
Western capitalists could've continued enriching themselves with their industrial and intellectual capabilities - indefinitely. But even though that had already made them the richest people on earth, it wasn't enough. They broke open the industrial/intellectual basis, thinking that they would find a frictionless and risk-free way to earn unlimited profit. In the process they killed that which had previously been so successful.
Along with all the humiliations its undergoing, the USA is now being schooled by children's parables.
"China's Six Networks is a comprehensive plan for water, electric grids, computing power and communications networks, underground pipes, and logistics. For this year China’s investment in those networks will be over a trillion dollars US."
It's not rocket science. When a country builds out its civilian and industrial infrastructure rather than wasting trillions on diminishing military dominance, great things are poised to happen.
China graduates 1.3 million engineers EVERY YEAR. Most of them aren't working in the defence industry. They're making China a better place to live.
In China, the "Field of Dreams" is a reality--build it and they will come. Historically, China has always been big on infrastructure development to fuel the national economy. As Hudson and a few others remark, China's properly using Capital in a manner the West long abandoned. Western Finance Capitalists only do what fattens Western Financial Capitalists, not what feeds national economies. Thus, Bessent has only blanks as financial ammo to use against Iran.
All true in my view, Karl. Western capitalists elevated their financial ideology to the level of a religion. By that I mean, it can't be questioned or modified, only pursued to its sacred end-point: pure financialism with those in control (the Chosen Ones) enriching themselves beyond measure.
Bessent's "most devastating sanctions in history," a phrase we've heard with every new sanctions package the USA/EU have rolled out against China, Russia and Iran, will not have any strategic impact. Iran's spent decades learning how to work around those sanctions, and alternative financial mechanisms are now in place.
BTW, the market heard Bessent's threat, thought for about two seconds, and then the price of oil dropped. That wouldn't happen if the market thought that the US could shut off Iranian oil. So besides you and me, a lot of dyed-in-the-wool capitalists with sharp pencils think that Bessent is firing blanks.
They traded the smart people in for profit .
Who needs people when you can have profits ?
Data centres are another rich man’s burden with no upside in the West .
It's the classic 'Goose That Laid the Golden Eggs' story.
Western capitalists could've continued enriching themselves with their industrial and intellectual capabilities - indefinitely. But even though that had already made them the richest people on earth, it wasn't enough. They broke open the industrial/intellectual basis, thinking that they would find a frictionless and risk-free way to earn unlimited profit. In the process they killed that which had previously been so successful.
Along with all the humiliations its undergoing, the USA is now being schooled by children's parables.
Have thought so myself about the Golden Goose . Must of happened before!
😀Big Thanks😃
China - US/Europe: different business models, I guess...