66 Comments
User's avatar
james's avatar

it is shocking how trump and gang have this ''long range'' view on what needs to happen for the usa to reindustrialize itself, but is going about it in some short term way, destroying more then creating... the financialization of the usa, as michael hudson, richard wolfe and etc. have talked about - is what these predatory capitalists have gone along with all this time, and now a lightbulb is being turned on where they awaken to the destruction that has been wrought by it??? i have a hard time understanding where these folks are coming from... i also have a hard time thinking they have the interests of the ordinary person in mind as well, which is exactly how i have viewed these financial ponzi scheme artists who have brought us to where we are, both in the usa, and canada where i live.. thanks karl!

Expand full comment
Karl Sanchez's avatar

What’s more is the protectionist POV also embraces state subsidies for the economy, particularly public utilities, yet Team Trump aims to privatize as much as possible. IMO, it’s that latter policy goal that gives away the game—more rent for rent seekers to harvest and greater costs of living for the vast majority as we’re seeing in England.

Expand full comment
james's avatar

yes more ''screw the little people'' which is quite ironic as many ''little people'' have been very supportive of him.. i can't see that continuing..

Expand full comment
arthur brogard's avatar

the little people were conned by his promises... having no real understanding of how the hell he might bring them about.... turns out he doesn''t either....

Expand full comment
J C's avatar

It will take a lot to fix this mess. Ethical people in leadership would be helpful.

Expand full comment
Anna's avatar

True patriotic Americans are in short supply among the “leadership”

Expand full comment
J C's avatar

Yup.

Expand full comment
dornoch altbinhax's avatar

They've latched onto the idea of "re-homing" and "reindustrialisation", but have misplaced motives which is producing faulty solutions. It's akin to the "Russia" threat and the Eurocrats deciding that "building defence industries" requires the appropriation of people's savings without consent. In other words more short term scams to facilitate hoovering rents into the 1% pockets.

Expand full comment
Brian Bixby's avatar

You can tell that none of these clowns (except Musk, who doesn't give a shit) have ever been involved in any major industrial project. Biden thought that his big pile of subsidies would magically make chip fabs appear out of thin air, Rump thinks that he can just wave his magical tariff wand and fully staffed shipyards will materialize.

It took four decades for you morons to destroy US industry, it will take at least that long to rebuild it.

Expand full comment
J C's avatar

Yup. I commented before I saw your response. They definitely do not have our interests in mind. They are looking to take the contracts they disassemble. tRump, Thiel, Musk et al have massive conflicts of interest. That is supposed to be illegal. However, murder, mayhem and failing to enforce laws is the American Way!!

BTW: Isn't it the job of forensic accountants to assess efficiency? Congress is shameful. Their lust for power is shielding tRump. Well played Republicreeps! 50+ years of plotting is paying off.

Expand full comment
Garry Gerskwotiz's avatar

Just more proof that capitalism/neoliberalism was not about trickle down but was always about trickle up economics. They tptb could care less about what benefits the average American

Expand full comment
ann watson's avatar

here's a good article I read today - https://indi.ca/beating-china-vs-being-china/

Expand full comment
Karl Sanchez's avatar

I agree, that’s well done.

Expand full comment
ann watson's avatar

yeah - its a really cute substack. The guy lives in Sri Lanka and is a Palestinian I think - or at least very sympathetic to their cause.

Expand full comment
Karl Sanchez's avatar

To be human is to be sympathetic with Palestinians. There’s no being neutral here—either you’re human or inhuman.

Expand full comment
ann watson's avatar

truly.

Expand full comment
J C's avatar

China is wise. US oligarchs are greedy. I don't see the US winning. These hacks blew it long ago.

Witness over the 55 years I was fully awakening.

Expand full comment
ann watson's avatar

yes.

Expand full comment
Steve O's avatar

Good article, highlighting the difficulties of interacting with the US.

Coming from a smaller country that has been subject to Chinas punitive trade actions and sabre rattling talk and actions , I have trouble accepting some of their kumbaya talk these days, perhaps flowing out of BRICS. Vladimir may have convinced them their "wolf warrior" diplomacy , that nobody speaks of now, wasnt the way forward.

Expand full comment
Karl Sanchez's avatar

Please provide the context you omitted.

Expand full comment
ann watson's avatar

which country do you come from Steve ?

Expand full comment
Diana van Eyk's avatar

It's hard to believe the shooting from the hip attitude of Trump and company. Although it's what we all should have expected. Does he still have a huge fan base? I can imagine people losing jobs and government sources of income and support being pretty disillusioned.

Expand full comment
Karl Sanchez's avatar

Yes, his approval rating continues to decline. Many are saying he has some sort of bipolar problem, the shipbuilding issue being an excellent example when he also says he wants to cut the military budget in half—you can’t have both as goals.

Expand full comment
J C's avatar

My view: tRump is/was a poor little rich boy. He bridles at insults and retaliates. He was a verified bully in school. He skated along as a rich kid, totally uneducated. He's a pretty good conman and carnival barker. The powers have spent many years dumbing down our educational system while at the same time introducing and selling the consumption ethos to our kids. Cell phones, Hollywood, bling, etc.

Many people listen to the words of lying politicians and ignore their actions. I'm sure they will note the betrayal eventually. The rest of us may actually pay heavily. ✌️

Expand full comment
Steve O's avatar

Dont see why really if your goal is to support commercial shipbuilding and you dont want to expand debt. Not saying its viable but the goals dont seem contradictory to me.

Expand full comment
Karl Sanchez's avatar

Support for shipbuilding is fine until you look to see what methods are to be employed; and since the US government doesn’t take in enough revenues to run the government, it will need to borrow—use credit which means further debt—to implement the plan.

Expand full comment
arthur brogard's avatar

holy dooley... it just gets worse and worse.... you know what I thought while reading this... ? that it's like reading of the state of the ussr before it collapsed....

Expand full comment
Steve O's avatar

I am not anti Trump , but he does suffer the classic politicians delusion that allocating money makes something happen. Send enough billions to Ukraine and they have to win, right?

Expand full comment
Ismaele's avatar

Crazy!

Expand full comment
Karl Sanchez's avatar

Yes, most certainly.

Expand full comment
james (seenitbefore)'s avatar

the retail industry doesn't give a damn about the long term welfare of america. it is called arbitrage; buy as cheap as you can and sell for maximum profit. if along the way millions of american workers lose their jobs, tough shit. up through the 70s, key core industries were protected and then Nixon opened our borders and the retailers betrayed the workers in this country.

Expand full comment
Karl Sanchez's avatar

Before cheap trinkets came from Japan, they came from Europe, although some weren’t cheap. Variety stores as they were called then were many and small-town business centers still thrived. The Imperial wars are what drained US wealth and resources and investment in industrial capitalism dropped like a rock after 1973 when stagflation began to take hold. The rusting of the rust belt was already underway since most of the coal was gone. Financialization of capitalism became the new game. And then Volker killed the economy with his 22% prime rate. For me, it was the economic draft; for my dad, he lost his business. It’s been VooDoo Economics ever since. There’s more to the story, 45 more years. But yeah, Capital is inhuman, which is why it must be strictly regulated for the common good.

Expand full comment
J C's avatar

Yup! Few of the elite will acknowledge that it was capitalist policy to send our manufacturing to China and other countries. Screw the people. All they ever want is more money. Then they try to blame China? Insane!

Expand full comment
james (seenitbefore)'s avatar

a bit. rust belt occurred because much of it was left over from WWII and Japanese/European growth needing US products. Marshall Plan helped many US producers stay in business, much the way our assistance to Ukraine has gone to the MIC. I remember when the first "Gibson Discount Centers" appeared near my home in SW KS. Filled with cheap Japanese products. The 5 and dime variety stores were gone within a few years; we opened our borders to the Japanese and the Europeans to help them recover, while allowing them to protect against US products; they still are!. But the Japanese could never flood our markets the way the Chinese are today and we still protected key industries. Financialization moved into many large companies, e.g., GM because they couldn't compete with overseas products. Even then the arbitrage was based on labor cost differences. Eventually US companies moved overseas in order to sell there but also to import their cheap labor based products back to the US. Neither the Japanese nor the Chinese could afford to sell in the US, (transportation costs) if their wage structure was similar. The Europeans protect and subsidize their industries. Air Bus still receives billions annually from the English, French, Italians and GERMANS while their Government owned airlines don't buy Boeing products. The list goes on and on. I suspect that the US is the only country in the world, whose airline industry is not nationally owned. Or?

Expand full comment
Karl Sanchez's avatar

Yes, the natural monopoly of air travel was regulated—parsed out—from the outset in response to Truman’s 1948 War Scare that was needed to rescue the airplane builders. Reagan “deregulated” that which led to consolidation and the severing of air service to marginal markets. Consolidation has occurred in every market/business area to the point where they’re monopsonistic or monopolized. And here there’s the reality of government and business being allied against workers/labor since the Civil War if not before. That means far fewer public utilities to decrease the cost of living that would enable US-based labor to be more competitive globally. Smart nations like Russia and China have a system where labor is included in the mix and isn’t fought against plus many more public utilities exist to support labor and the nation as a whole. The fundamental question that’s taught to all Macroeconomics 101 student is who is the political-economy designed to serve? In the West, it’s the Oligarchy, not the “little people.”

Expand full comment
J C's avatar

These people need a few real economists - Michael Hudson would be a great start. They are a true wrecking crew. Very sad. 😔

Expand full comment
Anna's avatar

By design

Expand full comment
Shank Hu's avatar

It’s actually worse…..much much worse for the US.

Expand full comment
Karl Sanchez's avatar

The main problem is resource depletion here in the States. Note that ship breaking is also offshored thus making it close to impossible to reuse those resources as the scrap gets recirculated to Eurasia primarily. No Capitalist in the USA ever examined the overall picture of supply chains until forced to by the Covid disruption as the resource problem didn't exist in WW2 when it was the industrial plant and skilled workforce that was lacking. Financialization negates the need to do such research, so what we get are pipe dreams.

Expand full comment
Anna's avatar

Thank you!

Expand full comment
uncle tungsten's avatar

What's the bet the weapon they shoot from the hip is a Norinco.

deepseek tells me: Norinco (China North Industries Group Corporation Limited, 中国兵器工业集团有限公司) is one of China's largest state-owned defense and industrial conglomerates. It manufactures a wide range of products, including military equipment, civilian firearms, vehicles, infrastructure machinery, and high-tech systems. Here’s a breakdown of its key products:

My guess is they chose a shotgun and aimed at their foot.

Expand full comment
arthur brogard's avatar

where?

Expand full comment
Karl Sanchez's avatar

IMO, uncle's referring to the sanctions target and the blowback will impact Trump's foot.

Expand full comment
arthur brogard's avatar

I meant where is the "breakdown of its key products" ?

Expand full comment
uncle tungsten's avatar

Thank you arthur, goto deepseek and ask "what does norinco make" and you will get a comprehensive reply.

Expand full comment
arthur brogard's avatar

can't be bothered, uncle. would have read your list or clicked your link though... :)

Expand full comment
WTFUD's avatar

We can't lay all this at Trumplethinskin's door but if he wants real change and not Barry Obama's chump change then he more than the previous mediocre/crooked Administrations should know a thing or two about the building game. Probably took him 6 years to get through the application process to build his Scottish Golf Course, and that after greasing paws and again after local protest.

Martyanov covered a related topic a few years back when bringing up the important factor of Steel Production to give an indication of current and future infrastructure build. The numbers are as follow -

Top 5 Steel Producers 2024

China 1.005 million metric Tonnes

India 139.0 million metric tonnes

USA 90 million metric tonnes

Japan 80 million metric tonnes

Russia 70 million metric tonnes

South Korea in particular but Japan also are more reliant on China in the shipbuilding arena these days.

Maybe China can assist America with a few thousand skilled craftsmen and women to get the ball rolling on America's New Build Programme.

Expand full comment
Karl Sanchez's avatar

Your closing sentence is a hoot! The coal, ore and men that built America’s industry and its ships are all depleted. The men you can regather and train, but the depleted resources are gone forever.

Expand full comment
WTFUD's avatar

Yes but when you assume control over Russia's resources in an Exxon-Blackrock JV underwritten by Goldman-JPM plus the same Troika who dun for Greece/Portugal/EU then Fanny's your grandad.

Plus think of all those Hypersonic scientists you now own/inherit, MIC frothing over that prospect. Hell China surrenders without a fight.

Is this really the wet dream of the Zio-Brotherhood of Little Mercy?

Expand full comment
Karl Sanchez's avatar

?

Expand full comment
WTFUD's avatar

Tongue in cheek Karl. Should I have placed a sarc emoji?

I'm saying that this is the Pipedream of Mr West, willing to place 80% of their armaments on their Eastern Front just like Hitler did to his chagrin.

Europe has little to negligible resources (Norway's Oil & Gas Fields).

Russia is standing in the way of progress! lol

Expand full comment
Karl Sanchez's avatar

Okay, understood.

Expand full comment
John Osman's avatar

WTFUD. My friend, in a time when the latest president was elected despite claiming that Haitian immigrants are eating cats and dogs, sarcasm is pretty much impossible.

Expand full comment
Stonebird's avatar

I reckon that the US has reached it's "Titanic" moment, where the owners had probably substituted cheaper rivets to maximise profits. (Profit before safety, who would ever know). Apparently those rivets did not hold together under the strain of the impact with the iceberg as they were of inferior quality than that specified in the specifications.

***

Note that the rumour that the iceberg was Chinese is false, as it may have come from Greenland or Canada. Panama was not involved.

Expand full comment
Karl Sanchez's avatar

Research has shown the iceberg that the Titanic hit was likely calved from Greenland. Your metaphor is well taken!

Expand full comment
Truth Seeking Missile's avatar

Gripped by the reality of what they have done, MAGA voters will likely fade from view, too ashamed to even hang their heads and remain in public. Perhaps we can financialize and rehypothecate them to recoup some of the value society invested in their pathetically artificial lives.

Expand full comment
arthur brogard's avatar

well from my pathetically artificial life I nod my head and think 'conned again' and am reinforced in my view that the whole of the american social/political scene is rotten to the core. that's on seeing the political/economy scene etc. then i turn to my own little web oriented life and read yet another gratuitously 'abusive' post, doubtless from an american, and my view gets yet more reinforcement. the rot is not just 'at the top' its also at the bottom. a country with a big, foul mouth accustomed and addicted to bullying and bad mouthing the world. living in some hollywood spawned fantasy.

Expand full comment
Karl Sanchez's avatar

Hundreds of millions over the generations were bamboozled by politicos going back to the 1787 coup that enacted the oligarchical constitution whose rationale as stated in its Preamble has always been a BigLie. Turner's Frontier Thesis was correct that the expanding frontier made it difficult for the BigLie to be seen or felt for a long time, but then came the capitalist business cycle booms and busts that actually began in 1876. Labor history informs us of the ongoing war between workers and capital and the federal government that always sided with the latter. School-taught history is deliberately made uninteresting, boring, and made to be disconnected from the present when it's the opposite. That's why so many know so little. The vast majority doesn't have a clue that being a citizen comes with duties--it's not a passive role, but it's been made into one in America. And my reply isn't just for you Arthur. All who voted either red or blue in the last election made a mistake since neither of those choices were in the people's genuine interest, so both sides got fucked over again. "Meet the new boss; Same as the old boss" comes from a song almost 60 years old whose primary lesson still goes unheeded. And the reds and blues will continue to be divided and ruled over until they finally have a collective epiphany, join together and defeat the Duopoly.

Expand full comment
WTFUD's avatar

But everyone has 6G instant info collection, even in the Sahel desert.

If the Houthis can thwart the Evil Empire with their < 1% of Satan's budget then we've run out of excuses not to hold our Representation to account, to know when someone's pulling your onions.

You can always rely on the stupidity of the masses. The System depends on it.

Expand full comment
arthur brogard's avatar

Yep. And I say again: a major step towards a collective epiphany would be a startling new 'fashion' - a 'people's voting app', so to speak. Very noticeable to me is that not only is it not called for from any direction I know of but nor is anything else.

The only 'proactive' measures I ever see suggested for the masses is to march in the streets as the slaves in Rome did. Which is ludicrous.

Here:

https://abrogard.com/blog/2023/12/25/dont-write-to-congress/

This is still not the way because it still belongs to govt. not the people and is still used only every few years -

but shows it could be done right NOW

https://en.wikipedia.org/wiki/Open-source_voting_system

a little more in depth:

https://abrogard.com/blog/2024/10/14/how-about-this-to-bring-truth-to-the-elections/

Expand full comment
J C's avatar

These corrupted people have systemic agendas in my view.

No where is genocide NOT a crime! The smallest ask is ignored. We need diverse actions - emails, calls, streets.

We've enabled them by not acting on our civic responsibilities. Hopelessness is also a thing.

NOW these misleaders have massive weapons, surveillance, etc. to suppress the people. Unity is another issue. Organizing and finding common ground could help. The system has deliberately created this by policy. It's enraging. They argue over words (antisemitism) while enabling mass murder.

Expand full comment
J C's avatar

Exactly. 💯

Expand full comment
J C's avatar

Not all of us! I apologize 😔 for these criminals.

Expand full comment
arthur brogard's avatar

I, of course, am very apologetic to the 'good' americans for my insinuations, castigations and general opprobrium of america and americans. I hope they realise I am referring to 'america its public face/actions' and to 'americans that support it'.

Which doesn't mean I'm totally approving of that vast mass that is not in the above category for I am not, any more than I am approving of the vast mass of any western country at all.

I find them all at fault for their disinterest and inactivity.

Which leaves me having to defend myself against counter accusations to the tune of well what do you do?

Well I do this and I have a couple of websites. If they did only as much I'd be silenced. :)

Expand full comment
J C's avatar

So sad.

Expand full comment
Crush Limbraw's avatar

The USA will win any tariff war because it has been losing the free trade war for decades. America has literally nothing to lose in this regard. - https://crushlimbraw.blogspot.com/search?q=Tariffs&updated-max=2024-05-16T13:17:00-07:00&max-results=20&by-date=false&m=1 - read them all and then decide - and stop believing propaganda!

Expand full comment