NYP
Intel was one of the biggest beneficiaries of the Chips Act, receiving an $8.5 billion grant announced in March, a $25 billion sweetheart tax incentive and likely the lion’s share of an $11 billion federal loan program. That’s only the opening act.
What did we get in exchange? Intel this week announced it was laying off 15% of its workforce — 15,000
positions.
America lost twice: billions of dollars and thousands of jobs. More
This is such a fucking joke. You’ll need te read the article to understand what I’m typing about. Who’s made a shit ton of money off of Nvidia stock? Well none other than Nancy Pelosi, Dan Crenshaw, etc, etc. Off of legislation they pushed through a year ago to benefit Nvidia.
Why is Intel laying off all these people? Because Bidenomics has destroyed their market. Discretionary spending is just about full stop. New Computers, video games, new cars, etc, etc are tanking. If they had a market, they’d be hiring.
When the government tries to pick winners, it’s the taxpayers who lose, every stinking time!!!
“When the government tries to pick winners”
That’s not what they are doing. This is strait up market manipulation for self enrichment. This how the rat bastards get rich while they’re pretending to have the countries best interest at heart. And Dan Crenshaws a quick study.
Our country is run by gangsters, and they’re looting it left and right – all while doing the bidding of their Chicomm handlers.
Half of that money will end up in the coffers of the DNC. From there it will enrich many Dem politicians. They all belong in Supermax.
Supermax my ass!
The cemetery’s more like it … or a dumpster … or a landfill …
Just to prove there’s a silver lining, the markets tanked last Friday, just in time for Chlamydia’s “virtual” nomination.
Much like the “Atari Democrats”, only shovelling money to their friends for supporting them, then the “friends” screw the public and their employees.
Yeah, less the noble citizen legislature and more full-on gangster.
BIDEN/HARRIS Bidenomics, squeeze the middle class with inflation, taxes and regulations while feed big tech $Billions of Tax Dollars and increasing corporate tax breaks
Kind of appropriate here:
https://www.thegatewaypundit.com/2024/08/big-brother-is-watching-nfl-announces-mandatory-facial/
Proposed new chip fabs in the US have been postponed, scaled back or suspended altogether because of onerous DEI strings attached to the money. To wit:
Intel announced it would put the brakes on its Columbus factory, citing the CHIPS Act’s DEI requirements as a major factor.
Taiwan Semiconductor Manufacturing Company (TSMC) pushed back production at its second Arizona foundry, and Samsung delayed its first Texas fab.
Companies are reportedly canceling planned plants to avoid costly DEI requirements, which include provisions such as:
Recruitment from underrepresented groups
Training and apprenticeships for local labor
Scientific cooperation with minority-serving institutions
Increased participation of economically disadvantaged individuals in the semiconductor workforce
However bad you think the above sounds, it’s worse.
will Khlamydia’s homies in India get the Intel jobs!
So,bought intc over a year ago, low enough price as to make a decent return by dividends and probable growth…owned it about two months when the Chip Act passed..read the screed over two days. National Socialism NAZI at its best. Too many items to list but these three resulted in my intc sell. First, it actually says that Investors, at the expense of employees of intc , are harmed by stock buy backs that only help help people of questionable motives…that would include me as buy backs increase my ownership share. Secondly, dividends are paid to questionable stock holders rather than using the money to increase salaries…capitalism trashed and is the only force in economic history that has created financial well being for the masses. Thus, the Chip Act also provides that if the Chip company signs on to the deal, stock dividends and buy backs Are Not Allowed without government approval…those damned scoundrel stock investors. Lastly, New Board members must be hired as a guard to fealty to the Government that cares…ie Democrats. The Left never stops Nudging us into Serfdom. Banking has similar controls and some years ago, a Democrat Economist, ie Commie moron, who destroyed an entire country so that it became a ward of Britain, who was engaged to three women at the same time, was forced on its Board as its International expert..this is the primary difference between Nazi and Communist..
SoBelt….right on..