The whole point of stories like this is to make you think "crony capitalism" isn't a description of what's been going on and continues to go on right now

 

 Ken Griffin just hates tariffs, which funded the (necessarily very small) federal government until the 20th century.

Meanwhile he's afraid the 12,000 lobbyists which already populate Washington procuring handouts like the Chips Act's billions of dollars for businesses will be replaced with 12,000 other ones lobbying for something else, ROFLMAO.

 

 Citadel’s Ken Griffin says Trump’s tariffs could lead to crony capitalism

“I am gravely concerned that the rise of tariffs puts us on a slippery slope towards crony capitalism,” the billionaire investor said Thursday at the Economic Club of New York. ...

“Those same companies that enjoy that momentary sugar rush of having their competitors removed from the battlefield, soon become complacent, soon take for granted their newfound economic superiority, and frankly, they become less competitive on both the world stage and less competitive at meeting the needs of the American consumer,” Griffin said at the event. ...

“Now you’re going to find the halls of Washington really filled with the special interest groups and the lobbyists as people look for continued higher and higher tariffs to keep away foreign competition, and to protect inefficient American businesses have failed to meet the needs of the American consumer,” Griffin said.

 

Repeat after me, people: Handing chip manufacturers billion$ and billion$ of taxpayer money is NOT fascism

 

Biden-Harris administration buys votes in North Carolina using the fascist Chips Act just in time for the election

 CNBC doesn't even hide the fact.

Biden administration to provide $750 million to North Carolina-based Wolfspeed for advanced computer chips

The Biden-Harris administration announced plans Tuesday to provide up to $750 million in direct funding to Wolfspeed, with the money supporting its new silicon carbide factory in North Carolina that makes the wafers used in advanced computer chips and its factory in Marcy, New York.

Wolfspeed’s use of silicon carbide enables the computer chips used in electric vehicles and other advanced technologies to be more efficient. The North Carolina-based company’s two projects are estimated to create 2,000 manufacturing jobs as part of a more than $6 billion expansion plan. ...

The new Wolfspeed facility in Siler City could be a critical symbol in this year’s election, as it opened earlier this year in a swing state county that is undergoing rapid economic expansion in large part due to incentives provided by the Biden-Harris administration. ...

Wolfspeed CEO Gregg Lowe told The Associated Press that the United States currently produces 70% of the world’s silicon carbide — and that the investments will help the country preserve its lead as China ramps up efforts in the sector.

Lowe said “we’re very happy with this grant” and that the Commerce Department staff awarding funds from the 2022 CHIPS and Science Act was “terrific.”

Gretchen Whitmer The Weird says Doritos stunt was about The Chips Act

 

Video.

In the good old days the Republican fascists funded domestic companies, now the Democrat fascists fund the foreign companies

 Taiwan last week, South Korea this week.

The Biden administration has reached an agreement to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas.

The funding announced Monday by the Commerce Department is part of a total investment in the cluster that, with private money, is expected to exceed $40 billion. The government support comes from the CHIPS and Science Act, which President Joe Biden signed into law in 2022 with the goal of reviving the production of advanced computer chips domestically.

More.

 

24 Republicans voted for $280 billion fascist Chips and Science Act in July 2022 even though they didn't need to, latest award goes to Taiwan Semiconductor Mfg. Co.

 The July 2022 roll call vote is here.

TSMC’s Arizona subsidiary is set to receive up to $6.6 billion in U.S. government funding under a preliminary agreement announced by the Biden administration on Monday. 

The funding, under the U.S. CHIPS and Science Act, will support Taiwan Semiconductor Manufacturing Co.’s more than $65 billion investment in three cutting-edge fabrication plants in Phoenix, according to the nonbinding agreement.

More.

Dunderheads Peter Meijer and Fred Upton from Michigan voted for the bill, in addition to other has-beens like Adam Kinzinger and Liz Cheney.

 

 

Fascist Joe Biden makes $20 billion in grants and loans to Intel in Arizona under the $114 billion Chips Act, which is all borrowed money, to buy votes

Democrats are more than willing to hand Joe Biden slush money to buy votes, but $25 billion for a wall? No way. 

Bloomberg doesn't even hide it:

(Bloomberg) -- President Joe Biden said his $20 billion award to Intel Corp. demonstrated his investments in US industries that had withered under Donald Trump’s tenure, touting a flurry of government spending he hopes will help him defeat his Republican rival in a general-election rematch. ...

Biden trails Trump in several crucial states, including Arizona, as voters remain skeptical of the president’s handling of the economy. Biden is responding by using his bully pulpit, as well as federal dollars, in states to show the public the results of his plans. The president said Wednesday’s announcement would support 10,000 manufacturing jobs, including 3,000 in Phoenix. ...

Intel is the first company to land a preliminary funding deal from the Chips Act for advanced manufacturing facilities. The law provided $39 billion in grants, plus loans and guarantees worth $75 billion to persuade companies to build factories on US soil and reverse a decades-long shift of semiconductor production to Asia.