How Biden's Inflation Reduction Act changed the world | FT Film

The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?

A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k

The whole talk about "reverse" market crash (real estate and stock market) basically argues that we are nowhere near done with inflation and that we might actually experience "hyperinflation" in the near future combined with accelerating poverty levels across the nation or going thru a historical economic depression...those are the extreme conditions that have produced the reverse market crashes in most examples I've seen. I personally don't see anything that extreme coming, but who knows.

The reaction of European governments to the IRA is a perfect illustration of why Globalization, as it currently stands, doesn't work. It creates a global market, but not global citizens. People still belong to their countries, not the globe. To protect their citizens, individual European countries will compete with each other, because their citizens are ultimately who they're held accountable to (ideally). The US sent its manufacturing base to China, which was great for "the global market", and terrible for the citizens of the United States. So you either need to move past the idea of the nation state, or you have to abandon the idea of an unrestrained global market. You can't have both over the long term.

With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly—which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio.

My Step-dad is from Holland. He told me, through this ACT, the U.S. bought a LOT of very expensive chip-manufacturing machines from the only company in the world that makes them - which is based in Holland. I have to admit, Biden surprised me here.

- Overview of Inflation Reduction Act's objectives (0:10) - Discussion on reshoring and reducing China dependence (0:23) - Analysis of job creation and investment impact (3:29) - Insights into international reactions and economic shifts (7:48) - Consideration of the act's long-term sustainability and global influence (11:01)

It is not the end of globalization. It is moving to avoid the complete annihilation of select manufacturing in various economies. It is a recognition that when you build here, you also have a chance to protect the workers, the environment, and the customers here. It is reducing potential liabilities.

I'm glad someone told this story clearly. Neither the President's communications team nor his campaign seem capable of doing so.

One of the best lines in this presentation was 'what happens when the subsidies run out, do you just keep paying them forever or do you end up with a bunch of white elephants'

Usually I would think that Governments shouldn't subsidize their companies just to pull production on shore. This makes for a very distorted market where the market is not functioning and money is wasted. Stuff will be produced inefficiently and innovation is stifled. BUT I see 3 exceptions: 1. If it is something that your society cannot do without and the supplier econonmies are not diverse enough. For example a country that does import all of it's food and can only import it from a single country is gambling with their future. If they can they should and must create some food production on shore. 2. If it is a global distaster like climate change that has been known for decades and every country is still moving incredibly slowly. The progress in carbon reduction clearly outweighs a little damage to the global economy. And I don't think it's even a contest long term. The benefits outweigh the disadvantages by so much. 3. If you are currently dependant on a hostile autoritarian regime, you should lessen your vulnerability. We shouldn't depend on China for solar technology and receive all fossil fuels from Russia and Saudi Arabia. These are not countries you should stake your existance on. Especially with all the rising tensions. It is probably ok to depend on fellow working democracies. You shouldn't depend on a dictator that wants to ruin or conquer you.

Industrial policy is good and biden deserves more credit for taking these steps. It's insane how much industrial capacity has been lost after the cold war ended.

Geopolitics aside, the fact that Mexican labor is now 1/3rd the cost of Chinese labor means pure economics alone will force the American industrial base to relocate closer to home. If the current rate of factory build out continues alongside our energy independence, U.S. can reach pre-WW2 levels of economic isolation within 10 years. And I'm all for it!

This is an excellent step. Hopefully it is the first step to give America the confidence to tackle the rising cost of living, education system, prison system, and other issues facing our nation.

Seems like the human species isn't that intelligent and very repetitive. Always a group of powerful, influential people seek to gain permanent power positions by stacking the deck to benefit themselves. That has always been the harbinger of decline for every empire. Wash, rinse, and repeat.

I'm glad to see America rebuilding it's industrial core. For far too long, we've freely given away our consumption and production of goods. Time to bring more back to the United States and ensure that we have a certain industrial capacity for both our own consumption and national security reasons.

Surprised I never grasped what the hell the IRA is... this was really eye opening about how big a deal this is in historical perspective... and really well done. Much obliged!!

The end of globalization is like believing in a unicorn....period

A fantastic summary of the Inflation Reduction Act and our strategy to fight global warming. Great reporting, wonderful editing and presentation of the material

I love it. Bring everything back where many of the technologies were invented. Good for the American workers and the US economy.