Monday, May 03, 2021
The old inverse rule works
Interesting item from Wolfstreet. One of the offshoots of the holocaust is a shortage in the semiconductor industry, for reasons that aren't quite clear.
Intel is making clear and sane moves to counteract the shortage. It's building more factories in US, and halting the share buybacks that were its main source of profit for the last few years. More real work, less finance. Good!
My father used to say "If you want Democrat policies, vote for a Republican. If you want Republican policies, vote for a Democrat." Now R and D are meaningless, but his inverse rule seems to be showing up as Populist vs Globalist.
Trump scampaigned as a Populist, and did everything possible to advance Globalism. Our imports from China increased during Trump after holding steady during Obama.
Biden campaigned as a Globalist, and certainly is a Globalist. But now the pressure from NYC is off. Corporations no longer have to avoid the slightest hint that they might be making Trump look good. Now increased employment will make Biden look good, so it's permissible.
Fine with me. I don't give a fuck how you justify the right result. Just DO the right thing.
Labels: Equipoise
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