17 Burst results for "Endless Frontier Act"
"endless frontier act" Discussed on Bloomberg Radio New York
"At the ADRs of HelloFresh. This is the German meal kit delivery firm. They're down some 8%. This is after it cut its outlook for the year, they're citing a worsening consumer environment ahead a lot of companies are also doing a similar cuts these days. They said that second quarter revenue rose ahead of market expectations to around $2 billion that's according to some preliminary results and adjusted epidural also coming in ahead of the market expectations but then our expecting revenue growth for the full year between 18 to 23% previously then guided 2026 2026%. So that lower guidance coming as their concerns about inflation about a war in Ukraine and about weaker consumer confidence as inflation hits. I likely to hit them in the second half of the year. They're going to report the full second quarter and first half results on August 15th. All right, that is Bloomberg's Whittaker Gupta. Just getting word from Alphabet count of Google says it will pause hiring for two weeks. This, according to the information, alphabet shares up now by 6 tenths of 1%. Recapping the Dow now slumping 40 points down one tenth of 1% S&P up four tenths of 1% NASDAQ rallying 1.3%. I'm Charlie palette. That is a Bloomberg business flash. This is balance and power with David Weston. Inflation is a bigger risk because it's here. It's real, and if inflation doesn't come under control quickly, it doesn't enormous long-term damage. We have employees who are being bombarded by these rising energy costs. Where the world of politics meets the world of business. There aren't a lot of inflation fighting policies outside of what the fed can do. The American consumer like consumers really all over the world are paying a Putin tax. Balance of power with given Weston on Bloomberg radio, the worldwide search for energy turns to nuclear, the novavax vaccine finally moves forward Italy is on the brink of losing its government and Congress tries to do something about the shortage of chips. From the Bloomberg interacted worker studio in New York, welcome to the second hour of balance of power. I'm David Westin. We have all been waiting with bated breath for Congress to enact something involving chips, particularly making a $52 billion investment in potential new chip manufacturing facilities in the United States. It now looks like, in fact, after having debated it so long and claiming to be bipartisan support for it, we are going to get something done. To take us through the importance of this modified trim down chipset, welcome to Bonnie glick, of the Purdue crack institute for tech diplomacy. Miss glick served as deputy administrator at USAID under president Trump. So thanks so much for being with us. Give us a sense of what this bill assuming it does make it through will do. David, thanks so much for having me here today. Look, American leadership in technology innovation, democracy promotion, all of this did not happen by accident. It happened because of the extraordinary partnership between government and the private sector. And that has improved the lives of literally billions of people around the world, and it's harnessed technology in order to do that. I want to take us back three or so years when Congress and the administration first started talking about chips in the form of endless frontier act. It was a pre COVID world if we can remember that. And the purpose of the original legislation was to restore America to the era of American R&D dominance. So even before global supply chains were thrown into tailspins by COVID, the U.S. was focused on the need for technology to drive American excellence. And now we're in this conversation about what they're calling the skinny chips act. When COVID hit global supply chains all but shut down, we scrambled, quickly, both with our domestic industries and with global industry and governments to address the needs around the world for manufacturing and logistics and communications for everything. And we recognize that chips are the underlying raw material, the basic ingredient that goes into all of our technology. So we're at this crossroads. We've come to an agreement that encourages homegrown American initiatives around manufacturing, supply chains, as well as encouraging allies to invest here in the United States. So this is a critical moment for our efforts to onshore near shore and allied shore, critical components of the global semiconductor supply chain. So that we and our allies can be protected from future chip shortages. Well, we certainly have seen the chip shortages without a doubt. And something is better than nothing I'm sure. At the same time, is it big enough, as you said, it's skinny, there are things particularly on the house side they wanted to do that apparently will not get done. Does that make a difference in terms of making the U.S. competitive in the world stage? The key here is that the enemy not the perfect not be the enemy of the good or good enough. So the overall price tag of this legislation is around $52 billion. And that's David. That's a big number. And that's $52 billion of guarantees of financial assistance to industry to modernize domestic facilities to encourage the building of new industries. But keep in mind, $52 billion of investment from the U.S. government is matched many times over by investments from industry. This isn't a handout, it's a partnership. China obviously is making enormous investments in this. And Europe has also stepped up as I understand it. How do we compare? The United States partners with country are allies around the world. Our domestic supply our domestic GDP is impacted in the supply chain in the semiconductor space only by about .3% of our GDP output is in the form of semiconductors. However, they are an important component in the production of about 12% of our GDP. So we're importing a lot. That's what that tells you. When you look at countries like Taiwan, Taiwan is the powerhouse around the world in semiconductor manufacturing. But Taiwan recognizes the imminent threat from China, the pressing need to build international alliances because there is a direct threat of military action from China. So Taiwan is investing in the United States in to the tune of many, many billions, if not close to a $100 billion. TSMC, the world's largest semiconductor manufacturing company based in Taiwan, announced an investment in Arizona, media tech announced a partnership with Purdue, for example, global wafers of Taiwanese semiconductor company announced a fab it's building in Texas. So this is a really global enterprise while we're also simultaneously encouraging American manufacturers like sky water technology, like Intel, like AMD, to bolster up their manufacturing as well here in the United States. The environmental considerations and the other add ons from the house would, in some cases, be helpful, but what we need David more than anything is passage of something. And the something is designed to send a message to the world that the United States is competitive and that the U.S. government stands behind and beside American industry. And as you say, after literally years of going back and forth, it appears we're about to get it before Congress goes into recess in August. Thank you so much to Bonnie glick
"endless frontier act" Discussed on Bloomberg Radio New York
"In New York, welcome to the second hour of balance of power. I'm David Westin. Well, Congress is in on a break right now for the July 4th holiday, but when it gets back, there's a fair amount that it needs to attend to including the success of the chips act called the U.S. innovation and competition act that everybody seems to want to get past, but they can't get it done. And a lot of appropriating to do to keep the government going. To take us through what Congress has in store for it and what it should and should not be doing. Welcome now, Sarah bender. She is Professor of political science at George Washington University and senior fellow in governance studies at the brookings institution. So professor thanks so much for being with us. One of the priorities for Congress is they come back. Well, the Democrats have a lot on their plate. They are coming back next week, but time is running short. Midterm elections are coming. We high inflation, presence approval of teetering at 40%. And yet, there's a big agenda here. They, as you said, they are still trying to pursue with Republicans. The chip or endless frontiers act basically a big boost to the domestic semiconductor industry. They still Democrats still want to move on some form of clean energy, healthcare, reducing the cost of prescription drugs. Those are two big things. They still will, of course, need to do spending for the coming fiscal year. And everything is just getting a little bit harder as time is running short. Yeah, at the same time, we also have the president requesting a suspension of the national gas tax at various things to try to address the inflation that I'm sure a lot of people who are back with their constituents are hearing a lot about right now. Is it likely the Congress will do something least on the inflation front? Well, I think there's been a lot of resistance even amongst congressional Democrats to push back against President Biden's a proposals on gas tax holidays. We're seeing a little bit of that at the state level, but many lawmakers seem to understand that that, in fact, could fuel more inflation and that's a real job here has to be done by the fed. Relatively little fiscal policy can do at this particular moment. You refer to it a moment ago, professor, but what about whatever is left of the build back better plan? I don't think they like to call it that anymore, but they had all those things. But things like energy and various things. There was word that Joe Manchin is in negotiations to actually come up with something. Well, it seems to be back in the news for sure. Joe Manchin, senator Manchin remains in the driver's seat. He seems to be trying to steer a package that he can vote for. Some carefully tailored clean energy, tax incentives, this question on reducing the cost of prescription drugs, which seems to generate a lot of money, which Manchin wants the bill to put toward deficit reduction. Never say never. The expiration of that date is September 30th. It may yet not happen, but these negotiations do seem to be having a little bit more traction than they did last year. And professor what's the effect in all likelihood of the midterm elections at some point people are going to be focusing specifically on their reelection all the house in a third of the Senate. Well, for sure. And Congress is not really in session all that much in the fall. They'll be there in September. House is gone in October. The senators will be there a little bit in October. But all eyes are on midterm elections, the closer they get. And I think everybody understands the big issue is what people think of Biden's performance and especially the state of the economy and the price of gas. Professor take a step back with me if you would for a moment because it strikes me that the Supreme Court, if anything has added to the agenda of Congress by saying, a lot of these things really are up to Congress or state legislatures. For example, the EPA decision with West Virginia. Last week, where they said, you know, if this has to happen, then Congress has to pass something to get it done. Is there a shift going on in the responsibilities of Congress over against the administrative branch if I can call it the branch? Well, I mean, the Supreme Court, whether or not they think Congress can actually get its act together to make these sorts of very minute specific instructions to bureaucratic agencies, that's not Congress's forte. I think in general, deals get made by doing a little delegation, a lot of delegation to the experts in bureaucracies. To enable them to think about how are we going to address these issues and how we're going to do long-term problems that Congress is not very good at foreseeing. So the record of Congress increasingly stalemated doesn't give me a lot of hope that they will be able to rise to this challenge that Supreme Court is throwing back on their plate. So let me push you on that just a little bit because we had pat toomey the senator from Pennsylvania on last week and I asked him about this quite specifically saying, wait a second, Congress can't get much done. So how realistic is it for the Supreme Court to say it's up to Congress? And he said, well, that's really undemocratic, isn't it David? I mean, that's why we are structured the way we are. Is there something undemocratic about the delegation to administrative agencies? Well, I think the delegation is to the reality of living in a world as complex as ours and a country as huge and diverse as ours that the way in which bipartisan agreements come together is that they have to be a little ambiguous to get the package out the door. So delegations to agencies can be done well or it can be done poorly, but the difficulty Congress faces and updating these laws means that power is just necessarily going to flow somewhere else and some that's where expertise lies. And so sort of a flip side of how do you legislate in the world and how do you make policy in such a complex world? Finally, let me ask the tough one, which is the deficit and the debt. Everyone seems to talk about it. Nobody does anything about it. It reportedly is one of the things that Joe Manchin, the senator from West Virginia is very concerned about. Is there any move afoot in Congress at all to take a serious look at the deficit and the debt and try to address it? I don't think either party has that high on its agenda. Certainly Joe Manchin is trying to put it in the radar and certainly the changing sort of inflationary environment, right? Where the U.S. can't rely on sort of near zero interest rates, it's going to change the calculation here, raise the pressure on lawmakers to act, but this is a problem that demands bipartisan buy in and the parties just aren't there. In history, going back as you've studied these things, can the markets give the Congress something of a nudge? That is to say, if the interest rate's really go up substantially, it's going to be hard to serve as the debt. Well, I think that's absolutely the case. And we do have episodes where markets can discipline Congress. Certainly, I think we've seen it on debt limit machinations that go on. I think the scare in 2011 has
"endless frontier act" Discussed on News-Talk 1400 The Patriot
"Network. And as of Monday, for the first time in 12 years, Benjamin Netanyahu and his Likud Party will not be leading Israel. At least for now. It remains to be seen how long the coalition government will last. The government agency that handles immigration is now facing a lawsuit. More of that from Jason Walker, a naturalized U. S citizen from Mexico is suing the immigration and Customs Enforcement, saying the agency held him in detention for a week even though he had his passport with him. Northwest Immigrant Rights project filed the lawsuit Friday in U. S. District Court As correspondent Jason Walker reporting British Prime Minister Boris Johnson held meetings with German Chancellor Angela Merkel and the French president Emmanuel Macron today on the sidelines of the G seven summit, as opposed to Brexit turbulence. Strange relations between Britain And the European Union. Republican Senator Todd Young says his endless Frontier Act was passed in the Senate, partly because both parties agree there is a need for targeted investment in high tech industries scenarios like artificial intelligence and quantum computing and robotics and advanced manufacturing in other areas. If we're going to out compete, how to innovate and outgrow the Chinese Communist Party. Senator Young co sponsored that bill along with Democrat Charles Schumer. He was interviewed this week by the Salem radio Network. More of these stories at town hall dot com. Tell me why relief factor is so successful in lowering or eliminating pain. I'm often asked that question. Peten. Seth Talbot, the father and son, founders of relief factor, tell me they believe our bodies were.
"endless frontier act" Discussed on WCBM 680 AM
"Miles from the far right to the far left with many parties in between, Um, a large number of ministers, 25 ministers. Oren was interviewed by the Salem Radio Network. And as of Monday, for the first time in 12 years, Benjamin Netanyahu and his Likud Party will not be leading Israel, at least for now. It remains to be seen how long the coalition government Well last. The government agency that handles immigration is now facing a lawsuit more on that from Jason Walker, a naturalized U. S citizen from Mexico is suing the immigration and Customs enforcement, saying the agency held him in detention for a week even though he had his passport. Northwest Immigrant Rights project filed the lawsuit Friday in U. S. District Court correspondent Jason Walker reporting British Prime Minister Boris Johnson held meetings with German Chancellor Angela Merkel and French President Emmanuel Macron today on the sidelines of the G seven summit as post Brexit turbulence. Strange relations between Britain And the European Union. Republican Senator Todd Young says his endless Frontier Act was passed in the Senate, partly because both parties agree there is a need for targeted investment in high tech industries scenarios like artificial intelligence and quantum computing. And robotics, advanced manufacturing in other areas. If we're going to out, compete out, innovate and outgrow the Chinese Communist Party Senator Young co sponsored that bill along with Democrat Charles Schumer. He was interviewed this week by the Salem radio Network. More of these stories at town hall dot com. Tell me why relief factor is so successful in lowering or eliminating pain. I'm often asked that question. Peten. Seth Talbot, the father and son, founders of relief factor, tell me they believe our bodies were.
"endless frontier act" Discussed on AM 970 The Answer
"But a Biden administration official is convinced that the current spike in prices is temporary and will begin to dissipate later this year. Greg Clugston Washington Senator Todd Young of Indiana is cheering Senate passage this week of the endless Frontier Act, a bill to compete against the Chinese Communist Party, he says about using the challenge that they present to our way of life to our Economy to our military from time to time, uh, to become a better version of ourselves by investing in Key technologies Center. Young was interviewed by the Salem radio Network. Former New Jersey governor Chris Christie says the U. S. Should consider the use of military force in the event. China decides to invade Taiwan Christie says the U. S has a longstanding promise to protect the people of Taiwan from foreign invasion and and I don't think the United States could back away from athletic before. On this Chinese got to that point. As president. You have to make very clear to the Chinese that that was a bridge for them not to cross. Christie notes that it's an important U. S ally as well as a strategic partner in the production of semi conductors stock shook off a wobbly day of trading and ended mostly higher on Wall Street on Friday, giving the S and P 503rd weekly gain in a row. And excited 0.2% of its value led by technology companies. Add banks. More from town hall dot com. Saint James Health is a community health center. Located in the East Ward and West Ward of Newark, New Jersey The goal of ST James Health is to bring comprehensive primary care to the community in a setting that is comfortable and accommodating to all visitors of ST James Health, regardless of their ability to pay with two locations serving the north community to 28, Lafayette Street and 3 32 South Eighth Street, ST. James Health has served just over 3800 patients in 2019, and so over.
"endless frontier act" Discussed on The Patriot AM 1150
"Biden is overseas meeting with the leaders of several countries in the UK for the G seven summit, and before he left, he told reporters that ending the alliance make it clear to Putin and to Canada, Europe and the United States were tight and the G seven is going to move Thursday. The president pledged to donate 500 million fighter made covid vaccines. Through the Global Kovacs alliance to more than 90 lower income countries. We're going to help lead the world out of this pandemic working alongside our global partners. Under the UK chairmanship of the G seven. Democracy of the world are posed to deliver as well. President Biden has said multiple times in the context of his infrastructure proposal or foreign policy, or covid, that the fight between democracies and autocracies is on and that autocracies believe they will win because democracies like ours require consensus agreement. In our case that's bipartisanship. There is one area in which Democrats and Republicans have come together and it's well infighting autocracies, specifically China This week, the Senate passed the U. S Innovation and Competition Act, also known as the Endless Frontier Act. We'll see if the House agrees to it, but the vote was 68 in favor of it. Senate Minority Leader Mitch McConnell voted for it as well. I think President Biden's messages is actually Accurate. Indiana Republican Senator Todd Young was a co sponsor of the legislation We democracies can indeed if we stay unified, we can win the 21st century and ensure that our way of life in our values continue to be protected. But that's going to require us come together to pass important pieces of legislation and to collectively work to resist some of the Malign behavior from the predatory behavior of the Chinese Communist Party. The Chinese Communist Party has for a number of years now been involved in economic predation. They've been stealing. Our intellectual property. They've been dumping cheap goods into our markets. They have been requiring joint ownership and companies that want to sell into or operate in China, so we don't do any of these things. And when it comes to resisting this, we fail to come together. It does send a message to the Chinese Communist Party that maybe we're not serious as a country. And as an alliance system about resisting their predation, So that's why it was really important this week for the United States Senate to come together. And we saw a vote of over two thirds of the United States, Senate Republicans and Democrats to make sure that we boldly invest and what is candidly the most sweeping broad based anti Chinese Communist party legislation in our nation's history. And it was the real point of emphasis on this legislation is making sure that when it comes to technology development, the US leads the way so that we might out grow and innovate. And out. Compete the Chinese Communist Party. Yeah, let's talk a little bit about what is in this bill. And just to be clear you were a part of the endless Frontier act that is within the U. S Innovation and competition Act that got passed. That's the name of the bill. Talk to me about what is in this. What are we spending money on here? An effort on here. So we are investing in some critical 21st century cutting edge technologies, many of which have direct military applications, all of which Will be required to ensure that our workers are the most productive in the world, and therefore we remain among the most prosperous countries in the world were really taking a page right out of our post World war. Two years where we invested in our national scientific enterprise. We invested through our universities, international laboratories and things like aerospace and and medical equipment We developed An entire aerospace industry. We came up with breakthroughs like MRIs and and on account of these breakthrough technologies were able to spin off. Businesses and and even develop entirely new sectors of our economy, that wealth and that bringing to bear of the American creative and innovative and entrepreneurial spirit. Helped us defeat the Soviet Union. Well, we need a essentially adopt the same model, as we relate to. The Chinese Communist Party will continue to do some business with the Chinese. They have A different form of government and a different sort of economy than the Soviet Union had. But what is for certain is that when it comes to these key tech areas, and more broadly are economic growth, we need to work with our partners and allies around the world and ensure that we're not out, matched or outpaced ID. Any moment by the Chinese. The Chinese did not like this act that passed their foreign affairs Committee said that this bill seeks to exaggerate and spread the so called China threat to maintain global American hegemony, using human rights and religion as excuses to interfere in China's domestic politics and deprived China of its legitimate development rights. I'm wondering what exactly they're afraid of in this legislation, and I'm going to list off some things here. Is it the part of the legislation that says Taiwanese officials can wear their uniforms and fly their flag here when there on official business? Is it? The part that says intelligence reports need to be gathered on Chinese objectives and international organizations? Or is it the part that says we will be doing extra work with our allies in an effort to compete with them? These are some of the things that are in this legislation, and I'm wondering what is your read on what the Chinese read is of the legislation. There's not much to like. If you're she Jinping in this anti Chinese Communist party legislation so between she Jinping and Bernie Sanders. I know there's been some, shall we say, principled opposition to these key strategic investments? What I think the Chinese Communist Party most dislikes about this legislation. Is that the US is starting to take seriously the notion that we need to invest in ourselves in our people through training and education and opportunities for all of our our citizens, regardless of where they live and what circumstances they grew up in. And in our key technology areas so that we can start the businesses that will help to find the 21st century and ensure that people in my state of Indiana and across the Heartland Can enjoy 21st century high paying jobs and giving us the wherewithal. To hopefully deter any conflict with the Chinese and and resist any pressure. They might place on some of their neighbors. But should any conflict ever arise? We will be Ensuring that our warfighters never have to fight a fair fight. If we have the most sophisticated technology Senator do we need to walk some line here? You know, the Chinese owned quite a bit of our debt, right? They make a lot of our critical supplies are pharmaceuticals. We're talking about bringing supply chains back here. What kind of line do we need to walk? Do we need to be Hesitant about upsetting them at all. And I don't mean that like Oh, we should bow to the Chinese. But They could disrupt us, right? I mean, we do make a lot of things over there still. Well, and we will continue to make a lot of things over there. One would hope if we make the right sort of investments that the things that require the greatest level of skill to make and therefore Compensate our workers the most for making those are made here in the United States. We want to import cheap things out of Asia and other countries. Comparatively, so our country can benefit from trade if we do trade, right, and if we engage in fair trade, and if we ensure that we have mechanisms to train people and support people have traded or automation disrupts their lives. So, yes, we have to be careful, but I think the best way we can be careful is By ensuring that we don't regard this competition between the United States as China is exclusively one between two countries, but instead If we play this right, this is actually going to be a competition between China And the rest of the world. I mean, who really wants to be China's partner, Um, really no. One they engage in predation. Even with their so called partners, they engage in debt trap diplomacy, They bully their neighbors. The only real ally of swords that they might have as North Korea. And even with them, they have a conflicted sort of tense relationship..
"endless frontier act" Discussed on The Propaganda Report
"He's been out for a little bit. And as a great favourite to us our friends cam harleys hosts co of the mad ones. Podcast which you have heard on this feed before has graciously agreed to help us out this week and fill in. Thank you so much cam for being here for filling in and why don't you take it away with today's top stories. Well you're welcome and also Here is the top story. This senate is set to pass a massive. Bipartisan tech in manufacturing bill that takes on china. If that wording doesn't sound like ooh propaganda. I don't know what will as. Oh so what's going on right now is the the. There's a very. Bipartisan a bipartisan af. Push right now. to continue donald trump's policies of nationalism of manufacturing in america and Starting cold war with china. Jana so there is this bill called the innovation and competition act of twenty twenty one and this bill incorporates at least three other previous that did not make it through committee so there it incorporates the endless frontier act the chips for america act in the strategic competition act In this is a big bill. I think it's like twelve hundred pages long and it's gonna cost around two hundred billion dollars if not more and it's all about combating china. That's very interesting to me. Because i hadn't read the previous titles of the bills that are now incorporated and every article. I read especially the new york times which it proves outright that we are dealing with the welfare warfare unit party superstate because this is a fascist thing it's in it's couched in militaristic terms that is really come out in new york times like that. But it's kind of a smoking gun when you think of what the actual purpose of the pieces was. Could you reread those three titles. Yes so the this incorporates. The endless frontier. Act the chips for america act and the strategic competition act and so one of the so. You mentioned the cold work because this is very reminiscent of what happened between the nineteen late..
"endless frontier act" Discussed on Bloomberg Radio New York
"Transparency of debt contracts would be a big step forward for China. We welcome their their membership and shareholding. In the World Bank there, the third biggest shareholder in the World Bank, and we're engaged in China in with our programs. Jamie Male passed to the World Bank with a terse economic report yesterday, they minced no words about at the World Bank in their wheelhouse of a struggling world economy, particularly Africa, and they made clear the disparity between the haves And they have nots within this pandemic is exceptional was really quite a heated interview with Mr Malpass in this eight o'clock, our Wall Street and Washington time we're waiting for the president. The United States has left the White House. We should have images of Marine one on a tape delay here for all of the press in the moment, and it is Andrews Air Force Base, Air Force one awaits this president. For his first trip abroad again more than just a visit to Cornwall in the G seven nations. He will make the grand Tour is presidents do, including inappropriate moment with the Queen Terry Haynes, with Lisa Brammertz remain Bostic and myself. Thrilled You could be with us. This morning futures and makes much like yesterday. But the yield front and center here, the yield, indicating the oddest of American economy is 1.5%. Carrying every president goes abroad and then they come back. I love what Politico says today and the ghosts of the legislative graveyard. What does the president come back to in Washington? What the president comes back to is I think a probation positives on handling of the coronavirus, including just how he will continue to talk about United States leadership there in the G seven. I think he comes back to gathering momentum in a positive way on on infrastructure. I think on on G seven and the taxes I think that people understood need to understand in markets that There's far less here than meets the eye, and Congress is unlikely to take that up. And that on semiconductors what Washington has done largely is throw money at a problem instead of trying to fix immediate issues in the supply chain or anything else, Terry, you're our expert on conservative gridlock. Are we in gridlock now? And is it a new gridlock? You know, I always think that there's there's gridlock on. There's gridlock any time that the for the progressives on the left and the Conservatives on the right ball things up. But when the center of both parties come together as they have on infrastructure, use me as they have on covid spending. And as I think that they're still likely to do about 60% likely to do on infrastructure spending, then you don't have you don't have gridlock, but You know, that's those are short term agreements that continue to exacerbate longer term problems. Like like the debt, the deficit and, you know, may feed into the inflation problem. You were just talking about a few minutes ago. Yeah, We're looking at live pictures here on the television of Marine One landing there at joint base. Andrews. Terry, what is, uh, the clout that President Biden and the Americans overall have on the international stage right now. I remain. Um well, you know, it is, I think somewhat of a of a well meaning trope to say that the that the President Biden has re establishing leadership. What he's trying to do is use a different form of leadership. That is a lot more collegial and the previous administration, which Was set off by a lot of frustrations with European countries not paying their defense spills and not doing this and not doing that. And you know, trying to reset the relationship. President Biden is resetting the reset. But the you know, but he's got one big plus, which is that the nature of concerns with China and Russia or both, Uh Focusing minds in a way that hadn't been done over the past few years. And, uh and that's really the nature of American leadership here is to try to find common solutions to those fundamental problems. I mean, talk about focusing minds. It's not just internationally, but also nationally. We saw that $250 billion plan passed by Senate yesterday. On a bipartisan basis to help support certain industries in the United States to become more competitive against China. How material is that in your view? You said in the last hour that you thought is is that the expressed the view that it might be rearranging the deck chairs, and I think that is true to some extent. Uh, markets need to understand that this is what the Endless Frontier Act, as it's called down here is all about is about long term issues, and that's perfectly fine. But you know, at the same time there is no there. There are no answers, Then you know none. None expected, really. In a facile sense to the The immediate supply chain problems. The immediate rarest problems all the other issues with but semi is much less the other issues to China. So What we're going to be doing and there's no You in Washington as to why we need to be throwing money at the semiconductor industry, which last I saw didn't really need money to be thrown at it. So, uh, you know, there's the long term problems that are being addressed, but not the short term problems, And that's what markets need to understand. Markets are also trying to understand policy and headlines that sometimes seem confusing. Yesterday we saw that Talks broke down talks ended between President Biden and Shelley Capito, the senator, Republican senator leading the bipartisan efforts you wrote A report promptly thereafter, saying, Don't believe tonight's erroneous press headlines to infrastructure talks Ending they are not. They will now continue with an expanded bipartisan cast of characters. What is the distinction of this new bipartisan discussion from the one that had been being had between capital and men? Biden Well, no sooner did I write that report than the than a bipartisan group, including that in the house that so called Problem solver Caucus and in the Senate, including Senators, Cassidy of Louisiana as well as it apparently Democratic Senators mansion in cinema, uh, came out with a proposal of about 1.2 Trillion over eight years, which is now getting into my bogey of of a deal at 1.25 to 1.5. What's important to understand here is very simply to numbers. Uh, this group and President Biden for now. $500 billion apart overall and their $250 billion apart in new spending, so that we're on our way to on the way to a deal getting done or think, tear hands up NGO with us, and he will stay with us right now. We witnessed the president of the United States as it begins his first trip abroad. This to the G seven meetings in Cornwall. Very much self southwest of London is well, the president now leaving Marine one from the White House with Mrs Biden. And they will, of course, leave on Air Force One. A bit of a flap for those of you worldwide the East Coast and out to Ohio of the United States invaded by cicadas this summer in the press plane had a near seven hour delay, according to Jonathan Lemire at The Associated Press out of Dulles Dulles is west of Washington, much more towards the farm fields of the cicadas. The president is moving east towards the Atlantic Ocean at Andrews Air Force Base or joint base. Andrews, the president here going to a G seven meeting, And as we heard earlier, this is someone very familiar with G seven. Politics Lease Abramowitz Ian Bremmer making very clear we couldn't have vice president more understanding of an Atlanticist approach, although the question is how much weight that will carry based on the actions. Of the United States based on President Trump's administration, and, frankly that it began several presidents before that, that the U. S started to depart from the the rest of the allies from the rest of the European continent. There is a question of what President Biden can do to restore those alliances at this point without some sort of material, legislative action, Tom images everything as he comes off Marine one where they wear dress blues, the pilot, the helicopter. With the air Force at Marine one. This is a president Tyler's I mean, the look is everything. Lisa? Yeah, I mean, he looks like remain Boston Casual. On the weekend, The Aviator glasses gone, but it is important. This is his sort of, you know, a common man look and the common man appeal and how much that's going to read in Europe at a time when the U. S has Is going to be important to see. He seems to be fired up. He's coming over to speak with us for those of you on Bloomberg Radio. We're going to try to listen in here. Maybe we'll hear something from President Biden. It.
"endless frontier act" Discussed on KCRW
"I guess the question I have for David is, you know you want to look at you know what former President Trump did What Josh Holly did that sort of thing. What is a commission going to find out that we don't already know? I mean, as you know, this is basically a political question. But I think the key political effects appear to be out here that you had irresponsible statements that certain people made and continue to make that of whip people up that have that have encouraged this sort of unrest and effort to subvert democracy. How does how does a commission tell us something new about that? Commission has subpoena powers. And this has been a problem through through the trump years as we saw it with Trump and his pals in Russia that people were engaged in activities that were probably not exactly illegal. It's not illegal for the president of the United States to be communicating to, um Radical people come to Khan come to Washington on a day on DPA. Oh, test that I should not have to recognize the election. The statement the president shouldn't have to write. That's free speech, the president talking to supporters, even if some of them are pretty out there. That's normal politics, the people on the president's campaign paying for Busses for potentially violent people. None of that is illegal. But when you You subpoena powers to get an exact profile. Did money flow from the Trump campaign to the bus? Is that brought the violent people to Congress? That's useful information. What we I think what We have here is an information problem We need to fix in the public mind on this is I think one of the things that sort of disturbing about what Rachel said. This isn't politics. Politics is you can campaign you see quotes you count votes once the result is there you accept the result. That's politics When you violently challenged the result. Now we're outside politics. We don't you? No way. Don't vote put just out of office. The problem is, we already have voted the pushes out of office. That's why they made the putsch or attempted the push. This was not. This is not a comical incident. It's less deadly than many terrible things that have happened before. But this one was one was an incident went to the very core of what it means to be a self governing people. It was an attack on that project. And while we're going to send many people, probably to prison for their particular violent acts. The people who organized it are going to go scot free within at the most. At least what we can do is fix in the public mind who organized it. Why what they were trying to do and that this is Utterly radically unacceptable and his comes attached with permanent disgrace. Rachel, and I'm wondering what you make of Lizzie's point that if they're already going to be congressional investigations, why are Republicans so resistant to this particular one? Andre? When I look at this, I think what it is, is that this is a politically inconvenient matter For Republicans, it divides the Republican Party. It exposed Republican elected officials and Republican staff to real physical danger. On the day that the riot happened, But you can't really you can't really be resolutely angry about the riot and the people in the party who fomented the riot with the former president at the top of that, because of his ongoing role in the party. So isn't it basically just that Republicans wish they didn't have to talk about this anymore? No, because I think they're going to continue to have to talk about it. Regardless of whether this commission gets agreed to or not. These hearings are not going to stop. Democrats have made that very clear, but I think there's a fundamental distinction between You know, Congress holding itself accountable, finding out what the problems were in their own security system versus outsourcing That task to a number of people you know that aren't necessarily serving in government aren't aren't you know, weren't involved in exactly what was going on in our accountable to it, And I also think there's a little bit of an imbalance that Republicans see here because this was a terrible event. But to David's point, if we're going to look at who organized this, should we also be investigating? If there was any sort of political radicalization from the left, you know that resulted in a man open firing on Republicans and upon a baseball field in a shooting that nearly killed Steve Scalise. Should we investigate whether or not Maxine Waters used her campaign funds to get on the ground? What did she say? Getting in people's faces right before the verdict in a jury trial. I think you open up, you know, a trend that is not going to go away, I guess is my point. And I think when you start to use the leverage government to punish what is essentially, you know, politics gone wrong. I think you're moving into a new phase of self government that I think a lot of people are going to be ultimately uncomfortable with. How am I related questions? Don't go far enough. I mean, why don't we investigate the Pearl Harbor negligence at the same time? And who promoted Benedict Arnold? I mean, obviously 111 way is actually one way of heading off a question about President Trump's culpability is to open boxes about every other bad thing that has ever happened in history the world and say, Let's get to President Trump After we saw all these other unrelated problems. I want to move on and talk about the The more productive aspect of what Congress has been up to this week. Which is this this bill? What's called the Endless Frontier Act. It's the we talked about this. Last week. It establishes a technology directorate at the National Science Foundation to Beef up Apply technology research. Supports the domestic microchip industry. Basically, the idea is that you know, we're not doing enough on applied science in terms of research and investment, and this is a bipartisan priority that you have Republicans and Democrats agreeing Let's spend a bunch of new money on this not as much new money as the bill originally envisioned. The bill's been watered down in certain ways, but it's It's a significant and bipartisan thing that as we're taping on Friday, looks like it's about to happen..
"endless frontier act" Discussed on WIBC 93.1FM
"The three covert vaccines approved in the U. S have what's called an emergency use authorization, But experts say that does not mean they're not safe America Burman Emergency authorization means the final stage of clinical trials runs about four months less than it normally would, and I, U P Y law professor Dan Ornstein says, while the benchmarks for it FDA approval are written differently. They amount to the same thing and practice. Eric Berman 93 WNBC Mobile need more Indiana lawmakers criticizing Indiana University's Corona virus vaccine requirement. At one point it was 19 now 35 Republican senators have assigned Republican lawmakers. Excuse me have signed a letter. Sento IU President Michael MC Robby's saying the school is veering away from the return to normal. Ah, University spokesman said Thursday that required vaccinations are the on leeway to ensure a safe return. Indiana's attorney General Todd Ricky, to says I use requirement is illegal. Who's your Senator Todd Young's bill to stay competitive with China took a big step forward this morning, Kurt Darling reports on this vote. The ayes are 68. Nasar 30. The motion is agreed to the vote to end debate on the endless Frontier Act of big step towards final passage in the Senate. Young's bill would steer 100 billion in federal money towards innovating and developing new tech in order to stay competitive with China. Though Young says the endgame is not to beat China Sea, the Endless Frontier Act is about using their challenge to become a better version of ourselves. The bill needs another final vote for approval before it can be sent to the House. Work. Darling 93. W. Y. B C Mobile new If you're considering adopting a pet, the Indianapolis animal care Services says they could use your help. They're offering free pet adoptions as they reach critical capacity. That's in part because of an increase in cats and kittens coming to the shelter. All animals available for adoption or spayed or neutered micro chipped and they've had their first round of vaccines. I'm John Herrick on the level on the going on w y b c dot com seven Oh, five with traffic on the fives. Mad Bear Gate's open for Carb Day around eight a.m. so you can expect a little more traffic around speedway than usual. I know there aren't a whole lot of things happening for carved a other than practice but still be careful as you make your way around Speedway later, the sporting also south bound 65 10 minutes down 4 16 5 to the North Split, and then we're looking at inbound 70 years..
"endless frontier act" Discussed on KLIF 570 AM
"Kayla David Amy On Wednesday morning, President Biden gearing up to meet with the man he once called a killer. That killer would be Russian President Vladimir Putin. Joining us now with details from Washington is Rachel Sutherland. Good morning, Rachel. Hey. Good morning, David Navy. Can you imagine that will be a little bit of such a never think between person by then and President Putin when they meet in Geneva, June 16th. This meeting will come after the seventh world of leaders meet in the UK and this just president by the first international trip, and so they'll sit down to discuss what the White House describes is a wide range of issues. Iran, North Korea the Arctic because Russia has been blasting through some of that ice up there trying to get a channel for themselves plan that control Karoo the virus, and I would imagine that also, the solar wind tact with come up. We've the U. S. Has blamed Russia for that getting into government systems. We only know the total scope of that yet. So how do you think the conversation's going to go considering that President Biden has called him in the past a killer? Yeah, I'm gonna be watching the idiot. The body language there. The handshakes, Whether or not you know how how the tension really plays out, and, uh, It's a good question about how it'll go with us. It'll be you know, there's going to be on the world stage, probably pretty diplomatic on the surface, but I would be more interested in any kind of side conversations that they have. That's not on camera. And what they talk about, of course, and I'm also interested in the context of the now the now presidents of comments in the past The Washington Post saying that the first time Joe Biden met with with Putin, he looked into his eyes and said, quote. I don't think you have a soul. And one. Yeah, and biting, Putin responded. We understand one another. So you know, don't know what that that's all about. It doesn't sound like somebody who was there on behalf of President Obama, but apparently he wants Well, you know what? You're part of this. Know the president know, just call it as he sees it. So, uh, he needs say something like that. I mean, that would definitely make headlines with it. But they'll be talking about all those kinds of things and more. I would imagine all the president will bring up the military build up on the border of Ukraine. Ukraine has been talking about that then deep concern about that. In the up and on a personal level, though, David are you putting up with a point? I mean, will there be that kind of tension or little by that kind of tone it down a little bit because he's on the world stage. Um, I would imagine he would. He would call it as he sees it. I mean, he's like you mentioned rightly calling him a murderer in the you know, basically a bad actor. So But it's changed time. The United States needs to have a good relationship with Russia and White House press Secretary Jen Psaki is to think that this meeting is to stabilize really the relations between the two, so we'll see if that can come about a couple of weeks. Is this the president's first overseas trip? It is. That's president. It is when he goes to the U. K for the G seven it is and then heading off to Geneva s. So it will be his first trip in that's it. I think he is bound for Scotland and the falls for a climate of this, So those two things on the table. All right, Rachel, Rachel Sutherland. Thanks for that update. We do appreciate it. It's 8 23. All right, Jeff visas Whether he's the richest man in the world, the second richest man hardly matters. He is Rich beyond imagination. And he has a company called Blue Origin of Spaceflight Company, which lost a multibillion dollar contract to Space X, which is owned by Yvonne Musk. And this is to put people back on the moon for the first time since 1972. But Jesus lost out. So now now we have to bail him out, apparently with the richest man in the world needs a needs A handout from Congress. So they're working with this thing called The Endless Frontier Act, which is a bill to beef up resource is for science and technology research. So that sounds like a good idea overall, but Debating this on the senator Senate floor right now. An amendment added to that legislation by Senator Maria Cantwell to hand over $10 billion to NASA to give it to blue origin and by the way blue origin is headquartered in Senator Cantwell's home state. $10 billion. Wow. The richest man in the world. Speaking of the richest man in the world, which just bought MGM just a second. I'm just gonna say this. Just this for the first time I can ever remember this puts me in agreement with Bernie Sanders hatred. Introduced the last minute amendment to eliminate the $10 billion, saying it does not make a lot of sense to me that we would provide billions of dollars to a company owned by the wealthiest guy. I'm sorry. Go ahead with the Amazon is buying MGM for $8.45 billion that you lose your place here who owns Amazon kept Jesus be Zoe's right. And you know what MGM owns, right? Shark tank That and the Apprentice. Oh, So now Jeff Bezos has access to all of the behind the scenes, not on the Air Donald Trump apprentice tapes and those have been in the news lately. I mean, those maybe not lately in the last year, so where people have wanted those tapes released and GM said no. But now base those homes. I just just got to do it just saying those those air now and Jeff Bezos his hands. Here's a guy who's got his hands in all of our pockets. Because we signed up for Amazon Prime Deliveries very happy about that. And, uh, Can't wait. We praised him because there was are you the You know American entrepreneurship? Look at this. Self made go. Zillionaire started off by selling books out of his apartment online. And now look where he is. He's gonna be a bond villain. Now E could just see it 25. Let's get update on traffic.
"endless frontier act" Discussed on KTRH
"You all right. Time for a little pork barrel spending in Washington D C. My one of my favorite Senator John Kennedy. Hama Tucker last night can't miss an opportunity to quote him. Senator corn vicious Who talked about the orgy of spending going on. In Washington, D C. The latest one being the You're Gonna love the name of this. It's a Chuck Schumer bill. It's called the Endless Frontier Act. More like more like more like the endless spending act. Here's what Senator Kennedy had to say about it. Let me apologize in advance for any mean ugly, accurate things I'm about to say. Senator Schumer has a bill Askew said. Unless Frontiers Act it, Z. It is right now before the Senate. It is an orgy of spending and very little bit of the money. Goes to the military. It started out at $40 billion. The budget office tells me it's up to 200 billion and growing like cut suit. It's probably going to pass because I say this gently, but some of my Republican colleagues have swapped brains with the Democrats that are going to vote for it. Senator Schumer is ecstatic. He's running around like a Five year old in a Batman costume. Here's what the bill will do $120 billion in foreign aid. I don't know why we can't use that money for infrastructure. I don't know why we have to give money to countries that hate us. They should be able to hate us for free. $50 billion to the big tech semiconductor companies. Well know how broke big techie is? I guess they can use the money to develop. More efficient algorithms to censorious. Please. God. I just want to meet him one time so I can give him a high five. Senator John Kennedy. 6 21. Time for traffic.
"endless frontier act" Discussed on KLIF 570 AM
"I. F am Dallas que es es FM HD to Fort Worth no rockets and no airstrikes. I'm him. Who's oh Fox News. It's been two days since the ceasefire was struck between Israel and the Palestinians. Next week, Secretary of State Antony Blinken will travel to the Middle East for meetings with both sides. Yesterday, President Biden reiterated his commitment to the security of the Jewish state. After being asked if Democratic loyalty was shifting. There's no shift in my commitment to commitment to the security of Israel period. No shift, not at all. 11. Days of fighting left well over 200 people dead, most of them in Gaza. An attempt at bipartisanship appears to be in jeopardy following another round of talks on infrastructure. Republicans say the cost is still too high. The White House bring down their top line amount, about half a trillion dollars from 2.25 Trillion, down to 1.7 trillion The White House press secretary Jen Psaki said some of the changes involved shifting investments on research and development and also supply chain manufacturing and small businesses out of this packaged into another piece of legislation, the endless Frontiers act and that deals with making the US more competitive with China. They also brought down the request for broadband funding to match the GOP offer, the White House says. Also brought their physical infrastructure investment in Rosen Bridge is closer to the Republican number. Fox is Jackie Heinrich. Republicans also oppose raising taxes to pay for the package. There was a deadly shooting in Minneapolis overnight. Police say 10 people were shot to fatally after a fight broke out between two men. No arrests have been made. Terrorism is not suspected in the Netherlands, where five people were stabbed last night, But authorities in Amsterdam.
"endless frontier act" Discussed on KCRW
"With left right and center. I'm Josh Barrow on the right is Megan McArdle, columnist of The Washington Post on the left is Elizabeth Bronek, staff writer at the Atlantic Congress remains busy. There are ongoing negotiations to see whether a portion of President Biden's infrastructure proposal could be completed on a bipartisan basis. West Virginia Senator Shelley Moore Capito is the lead Republican negotiator on that Democrats are working out how they want to seek to advance legislation about voting, though that's highly likely to run into a Republican filibuster in the Senate, But there are two other things moving in the shorter term. But I think tell us something interesting about how Congress works today. One bill is a reflection of the new, highly polarized Congress, and the other is a throwback. Showing the Congress is sometimes secretly like it always Woz. The partisan fight, which we'll get to in a second is over whether there should be a bipartisan commission to investigate the January six attack on the Capitol. But what I want to talk about first is something that really looks like old style legislation. This is the U. S Innovation and Competition Act. Now part of this was once referred to as the Endless Frontier Act, which is a bipartisan proposal from Chuck Schumer on the Democratic side, and Todd Young, a Republican from Indiana. On. It was intended to sharply increase U. S investment in Applied Science Research. That's in things like artificial intelligence, semiconductors, quantum computing biotechnology. All this very cool stuff on you can call a big $100 billion investment in this over five years. You can call it a way to boost productivity growth. Even call it a way to fight climate change. You can call it a way to compete with China and in fact Members of both parties have been saying all of those things, and that's part of why the bill is likely on the way to pass. It's been moving through regular order. That's the way Congress is supposed to work or committees right legislation. They change it. There are negotiations and people insert their own pet projects into the bills. And we've been seeing the good and bad of that That's helping to build the coalition that's going to get this thing to pass. But the bills also becoming kind of a Christmas tree, which is to say people hang whatever they want on it. Why Senator Brian Shot's gotta provisioning to build to fight the trade in shark fins. Some of the money also keeps getting shifted around like New Mexico Senator Ben Ray Luhan got a lot of the money that was supposed to go to this new initiative is gonna move the Department of Energy, which has major labs in his state of New Mexico. Bills also been really reduced in size. $100 billion now includes the existing budget of the National Science Foundation, So it's good. It's an increase in spending by tens of billions of dollars, but not as much as was once hoped. Still, it's not nothing even though a lot of a lot of other science stuff and a lot of other unrelated stuff has gotten to this bill. It shows that Congress can move toward new, interesting initiatives, with the temperature a little bit lower in terms of partisanship of the negotiations when they set their mind to it. S Elizabeth. When you look at this Is this a good process and is it leading to a good outcome? Well, I think that the second question sort of answers. The first It's not leading to good outcomes and therefore I I have to rule that it's not a great process. I mean, something. We're not about Congress for a long time. Like you said, It's no surprise that it's ultra dysfunctional. But I think this bill especially because there's nothing really to object to their on. There's a lot to support, especially coming from the situation. We've just come from with the pandemic. On get it's turned into you know such a such a log rolling disaster, I think is it is a very good object lesson in the problem here. But I don't know that it's a log rolling disaster. I mean, even if a lot of the stuff that's getting put in here wasn't supposed to be the initial priority. You know, I don't have a problem with spending more money at the Department of Energy's labs in New Mexico, even if the bill is becoming less focused, and some of the money is spent better than others. It seems to me like you know, if that's what you have to do in order to get something done, and and things are, there's nothing in here that looks to me like it's a completely terrible way for the government to spend money. So I'm I'm not sure it's a disaster, even if it's in perfect. But hasn't ah lot of the pinning stuff. I mean, pinning things on to this bill. I mean, hasn't it also resulted in the wiggling down of the money that was initially set aside for innovation and right? And yes, that's the arresting and technology. Yes, that's a serious problem. Megan, What do you make of this? Look on the one hand I'm kind of heartened to see logrolling coming back. It's kind of just really you cheering to see Congress behaving basically normally. Yes. On the one hand, they have messed up this bill. It is now smaller than it should be, I would say, because I think that you know the government should just like spend money with abandon on basic scientific research research. Ondo Horse Trading has been no prettier to watch than any process of congressional sausage making ever is. But on the other hand, like it's just so normal, right, we're kind of arguing about fairly small details on a bill that we can all basically agree like, should happen. Um and that is a really welcome change from the other side..
"endless frontier act" Discussed on NewsRadio KFBK
"Tech. Scheuer's behind it. Every name did Chuck Schumer has renamed the Endless Frontiers Act? Um as scope of tech bill proceeds. Um He wants to make sure That there is an effort to combat the current semiconductors shortage. Strengthen the U. S. Tech sector. As it competes against China and established tech hubs in places where they haven't traditionally existed. Um, is now called the U. S Innovation and Competition Act. It was the endless Frontier Act. And it's Maurin list than ever 1445 pages of light reading. All right, look it I'm all for helping out with keeping our technology boosting our technology, helping out the semiconductor business so that the shortage Eyes taking care of, But I will tell you if you if you know anything about the shorties that we have Most of these chips that they make for so many products that you and I use. Beyond cars. Yes, but I mean a lot of other things, too. I mean, right down to toasters. That it has to do with the fact that our industry the semiconductor industry has left our country now we still have Some of those company Intel, for example. Is in the semiconductor business. Um What's the one Texas Drawing a blank. There's a handful of them. But they won over 60 minutes went over two weeks ago and talked to the guy in charge of the company Most a mermaid in Taiwan. Which is helpful. But China's, you know, taking a hard look at them as they always have. But it seems to be harder now because they know that Joe Biden won't do anything. So Taiwan is where a lot of these chips are, and they interviewed the guy in charge of the company that most makes the most computer semiconductor chips in the world. And he said. Quite honestly, your companies in the US are years behind us. They don't know how to do what we do. So you can throw all the government money at that you can possibly throw, but somehow we need to get our tech people in this country up to speed so they can at least be somewhere in the hunt with it with the Taiwanese. So that's anyway, the money there. I'm fine with shifting some of that money to helping out the tech sector, but I don't want them to still fund all these other touchy feely things. Just focus on something that you can touch. You can touch a chip. You can touch a bridge. You can touch a tunnel. Tony Westerly. I don't know what you think about the great according Jen Psaki, that this is the The, uh The art of seeking common ground. Well, Obviously, she doesn't know much about seeking common ground because $500 billion deal versus now $1.7 trillion deal shows that they're still oceans apart from each other. Anyway. That's That's the latest on on all of that. We have. Ah, the cease fire. I want to go over this little bit with you today as well Yesterday during the show we announced That the cease fire had been agreed to Between Hamas and Israel. And so far Missiles haven't been flying. Knock on wood. But the fight has not stopped in Jerusalem. And the fighting has not stopped in Los Angeles. And in New York City. Where you've got Palestinians attacking Jews. Worse than ever before. So the fighting is still going just not on the battlefield that we've seen over the last 11 days. The phone number here. You want to chime in, or is this the art of reaching common ground for you business people out there who don't negotiate. Phone number. Here's 855295 66 100. You can also get the number of Tom Sullivan dot com..
"endless frontier act" Discussed on Bloomberg Radio New York
"From where it was again back in February and March, despite the biggest inflation printing 40 years, So this is a big deal. But you know the wheels not coming off the vehicle yet, and right now we've got the tenure at 1.63% after earning Cisco Systems now higher by 5/10 of 1%. And cold stores now plunging by 10.2% re capping S and P up. 45 up 1.1%. I'm Charlie Pellet that David Weston is a Bloomberg business Flash. Thank you so much childhood happy Thursday to you as well, President, Biden says we have to get moving on electric vehicles or China will leave us behind. But at the moment we can't even move forward on what we've already got working, given the shortage of chips necessary for automobiles, whether electric or otherwise. Give us a sense of where the United States is in this competition. Welcome now. Michael, her son. He is a head of China and North East Asia coverage for Eurasia Group. Michael. Thank you for being back with us. Appreciate it. We have a sense. I think many of the United States that we are falling behind not just in electric vehicles, but in all sorts of tech areas. Are we right or wrong? Thanks, baby. Well, that's a great question. I think it really depends on what area of tech we're talking about. I mean, Or somebody conductors. I would say the consensus is the U. S remains far ahead of China in terms of technology, But what we've seen this year is that there's still a chip shortage in geopolitics are part of this because it does involve anxiety. Over our reliance really on the rest of the world's reliance on Taiwan, which in itself has a very intense relationship with China, so I don't think we should conclude that we are far behind China across the board. Far from it. We are still way ahead in some areas. But in other areas, the competition is quite fierce. AI, for example, you know, China leads in some of the Areas of AI. So it's a complicated picture. But there's anxiety, you know, nonetheless, esos sticking with chips just for a moment, if we could. Is China having trouble getting chips as well? Are they in his much of a pickle as we are? In some ways, it's even tighter for China in the sense that US restrictions, um export control restrictions. Have hit some Chinese companies quite hard. Now that really is the poster child here is alway, which, of course, has been Target for rolling US policies. And this has deprived what way which is China's telecom infrastructure five G champion of access to chips not just from the U. S, but also from Taiwan and from Taiwan's leading semiconductor maker. He has them see, And that actually is part it's a contributing factor to the global chip shortage because some Chinese companies have been stockpiling chips. Out of concern about further U. S export controls. So China feels the pinch in some ways, even more than in the U. S and Europe, and it's because of those geopolitical factors. President Biden went out to Dearborn, Michigan this week on said, We really need to compete with China when it comes to electric vehicles more broadly, not just microchips. Are we behind an electric vehicles? Because China is really was there before we were is that first day? It is fair to say I mean, China is making a huge push on climate and clean tech. Part of that is for their anti pollution goals at home, which is a seriously issue, but it's also Part of their bid to really capture this leap in technology to gain a real edge in, um, you know, in the automotive industry, so I think China is ahead and they're rolling out a lot of subsidies and preferential policies. You two really cement? Ah, lead in this issue. It would have shows you is even in any area like climate which was, you know, build as having some potential T be an area of cooperation between the U. S and China. Even here we see strategic competition between the two sides gives you real insight into where the relationship is these days where we in solar panels Because China certainly is a major producer of solar panels, many of them manufactured as I understand it out in the West. There are allegations of maybe misuse of weaker labor for it. That's right. And you know, I think at least for me it's hard to know with certainty. Um, you know, just dust. What to make of the forced labor is certainly there's there's potential there. It's really difficult to say. It is becoming a complicated question for the U. S. Because China dominates. Manufacturer of solar panels, and that's going to be important for the renewable sector at home. But there is a link to Um, you know, potentially to forced labor from the weaker population, which is a political issue for for the administration, and, you know, I think there's also just concerns about being reliant on China and a lot of these areas of renewable. So it's one of the tensions that I think it's going to persist in terms of how the administration draws up their climate policies. If we and by that means United States or China or anyone else, for that matter are gonna make real progress. When it comes to climate, there's gonna have to be a fair amount of innovation creation invention going on. What about research and development? That's something I know that President Biden has tried to put some emphasis on Are we investing What we need to in research and develop just to come up with the new technologies necessary to go green. Well, we're probably not doing enough either. Is the government you know, or in the corporate sector, and that is an area that is really top of mind right now. So this week we've seen legislation announced there's this big China package sweeping China package working its way. Through Congress right now, and one of the big headline items there is, um, spending an additional $120 billion on are indeed through the National Science Foundation. Some of that is going to be related to clean tech. But this is AH, China focused bill, but it shows you that there is this concern Washington about falling behind on Also, there's I think, a political, um, use in trying to get funding for domestic priorities. Noting the competitive aspect with China, and that's why we're seeing across a range of areas in the U. S. So Michael just help me here is what you're talking about The endless frontiers bill That's pending because we've heard about that from both Democrats and Republicans. I have a sense there's some bipartisan support for it. There is it's the endless Frontier Act, which has really become a much larger package. What we've seen is the you know, the Senate basically advanced this big China package. It has endless frontier and has the Chips Act, which has funding for on short semiconductor production. You know, to your earlier question. It's got funding across a wide range of areas and It's still not clear kind of what vehicle this will all come out. And But as you said, there is basic bipartisan support for these measures, and some of this could go as part of an infrastructure package. The summer, where some of the other parts of this trying to package could go later in the year. But most elements here are likely Tonto to become law this year because of that bipartisan support. That's interesting. I didn't realize they were the Senate was putting the chips act together with the endorsement. Iraq. That's very interesting. Thanks so much Michael for being with us is Michael, her son of Eurasia Group..
"endless frontier act" Discussed on Bloomberg Radio New York
"Abundance. And again, as we've seen right here in the East Coast. We'll just one pipeline away from absolute disrupting the economy's in the lives of American people. So let's talk about what could be done by Congress. You mentioned the endless fresh Cyriaque. We also have a proposal from President Biden is, you know for infrastructure? Is there money in that infrastructure proposal? He has that might address the sort of energy fragility if I could put it that way that we're seeing. Yeah, well, I'm concerned about where the by administration is trying to take the country and that is towards more of a scarcity approach versus a balanced approach on energy. You one of the first executive orders that President Biden sign was killing Keystone Pipeline that is a private sector infrastructure project that generates tens of millions of tax revenues and creates jobs and continues to build really resilience in our energy supply. Insuring. We have North American made energy and not dependent on the Middle East. What we could do it regarding the cyber front that I think is move forward. This endless frontiers act. This is where we will invest in our universities in research and development. To ensure that we stay ahead of places like Russia and China, as relates to innovation. High tech. This is not just cyber security. It's also artificial intelligence. It's quantum computing. We've got to win this race. This is the next generation race eyes relates to what's gonna happen in the world not only in terms of economic prosperity but also national security on Senator, I guess that the Colonial pipeline situation illustrates the fact that no matter how many pipelines you have, if you can't run of it doesn't help. And that was the cyber security issue gives a sense of what the endless frontier exact specifically would do. Protecting us from cyber attacks..