Dan Crawford | May 11, 2021 7:04 am
Semiconductor makers and users form a group to push for chip funding
Semiconductor companies and big businesses that use chips have formed a new coalition to push for tens of billions of dollars in federal funding for semiconductor research and manufacturing in the United States.The new group, the Semiconductors in America Coalition, announced its formation on Tuesday amid a global semiconductor shortage that has caused disruptions throughout the economy. Its members include chip makers like Intel, Nvidia and Qualcomm and companies that rely on semiconductors, like Apple, Google, Amazon Web Services, Microsoft, Verizon and AT&T.The coalition is calling on Congress to provide $50 billion for semiconductor research and manufacturing, which President Biden has proposed as part of his $2.3 trillion infrastructure package. …
Republicans Are Still Waging War on Workers https://www.nytimes.com/2021/05/10/opinion/jobs-unemployment-benefits-republicans.html?smid=tw-share
NY Times – Paul Krugman – May 10Has the Republican Party, which has championed the interests of big business and sought to keep wages low since the late 19th century, suddenly become populist? Some of its rising stars would have you believe so. For example, after the 2020 election Senator Josh Hawley declared that “we must be a working-class party, not a Wall Street party.”But while Republicans have lately attacked selected businesses, their beef with big companies seems to be over noneconomic issues. It bothers them a lot that some of corporate America has taken a mild stand in favor of social equality and against voter suppression.What doesn’t bother them is the fact that many corporations pay little or nothing in taxes and pay their workers poorly. On such matters the G.O.P. is the same as it ever was: It’s for tax cuts that favor corporations and the wealthy, against anything that might improve the lives of ordinary workers.The latest example: the Republican push to end enhanced unemployment benefits that have sustained millions of American families through the pandemic, even though unemployment remains very high. Multiple Republican-controlled states have moved to cut off the $300-a-month supplement provided under the American Rescue Plan, even though this means states turning away free money that helps boost their economies — the supplement is entirely paid for by the federal government. … And who has been pushing for a drastic cut in aid to the unemployed? Why, the U.S. Chamber of Commerce. Tell me again how the G.O.P. has become an anti-corporate party of the working class? Before I get into the substantive issues here, it’s important to be aware of the historical context — namely, that Republicans have always opposed helping the unemployed, no matter what the state of the economy may be.In 2011, with the economy still deeply depressed in the aftermath of the 2008 financial crisis, leading Republicans attacked unemployment benefits that, they claimed, were encouraging people to “just stay home and watch television.”And last summer, as a renewed surge in the coronavirus forced much of the country back into lockdown, Senator Lindsey Graham declared that enhanced unemployment benefits would be extended “over our dead bodies.”Editors’ PicksThe Strange New Life of Vaccine SitesCan You Have More Than 150 Friends?The Lure of H Mart, Where the Shelves Can Seem as Wide as AsiaContinue reading the main story
More than 100 Republicans, including some former elected officials, are preparing to release a letter this week threatening to form a third party if the Republican Party does not make certain changes, according to an organizer of the effort. …
(Disaffected Republicans really need to become Democrats if theywish to make their point. Otherwise, they’ll only make things worse.)
“Fred: Have you “ever” taken out a student loan or maybe a child of yours did?” Run,
The student loan thread seems to be closed off. However… Mrs Fred & I both had student loans back in the day, long ago, before tuition charges skyrocketed. Between the two of us, our debts were around $10k, and were easily paid off. When we had kids, I was determined to put money aside (i.e. invest) to pay for their education, and was very successful doing so. They had no debt, nor did we. That was during the period when college costs went through the roof, but so did the stock market. Nonetheless, I am not terribly sympathetic to those who naively, or out of desperation, borrowed huge sums to get educated. But they should be offered bankruptcy protection if needed.
I didn’t forget you. I had penned out a good reply and thennnnnnn deleted it accidently. Took a break and did some work I needed to get done.
I walked up hill going to and coming from college. Got it done though while working as a maintenance man at an old age home. A year and a half at a junior college getting the basics out of the way at, a lower cost, and another year and a half at a Lasallian University getting a BA in Economics and a minor in Math. I was in a hurry. The total was about $10,000 It cost me about $5,000 for a Masters at a well know Jesuit University and the same amount of time going for almost three years.
Annual rate now at the Lasallian University is $35,000 and at the Jesuit University the Masters is $85,000. Such a deal, heh? My one son’s BA was $100,000 in 2000, in 2002 the other son was in for $120,000, and my daughter was there for $90,000.
The one piece of advice I gave each of them was you will know when they want you when they offer grants and scholarships. If they offer you an unsubsidized Stafford loan, walk away. They do not want you. The for profit Art Institute of Atlanta offer for my daughter was $20,000 tuition. It is out of business now and left many of its students stranded there and at its other branches. I also told them I would sign for parent plus loans as long as they helped me to pay them off. They did.
The ability to go to college has become expensive now with states cutting funding to state universities causing tuition to rise, books to increase in cost, etc. My salary did not increase at the same rate as the tuition for my Masters. Me Econ prof at the Jesuit University says they are a bargain compared to the Vincentian University a mile or so away with a tuition of double. The ratio of my salary to the cost did not increase as much. Tuition outstripped me. I am one of the fortunate ones who cracked 6 digits in salary alone ten years ago.
Income has not kept up with inflation much less college tuition. States cutting funding has pushed more tuition costs on families. Books are more expensive. We have a crisis in the cost of healthcare which has impacted families. It is not surprising the debts go on longer than they did for both you and I. We talk about income and the economy a lot. Participation rate is no where near what it was pre-2007. Most of the people we are talking about hoover around median income and do not invest in the stock market like the upper 10% does.
Besides Congress pimping students, the servicers of Federal Loans are deliberately misleading kids. The controller of Connecticut in talking to one college loan servicer had difficulty understanding what the servicer was presenting. There they passed a student bill of rights to protect students from predatory lending. More of this is needed in addition to restoring consumer protections.
Stabenow mistook the white haired guy who had his hand up as an easy mark, I was not and interrupted her half way through her answer to correct her at the garden party I was invited to as a donner. I do not think you and others get it. Screwing over an entire generator by doubling the principle with penalties, interest on those penalties, and forcing the payment of interest before touching principle is usurious. Unless it is a loan from a loan shark, I know of not other loan like this. The economy lacks for the productivity of this generation which is taken in penalties in the form I stated. Joe Biden is the cause of much of this.
Alan Collinge of Student Loan Justice org has a 1 million+ petition going on and he hopes to hit 1.5 million. You and any others are welcome to sign it also..
The US has a system of financing higher education that would make JP Morgan and Frederick Hayek proud; rightly so since they were principals in establishing the principles of capital markets. “We have met the enemy and they are us.” – Pogo
Put your hands in the hands of the man that started banking, because that will end well :<)