Bang, today--another iteration by Tucker and Glenn Greewald of this simple idea, which so much has been written and talked about, especially by Michael Hudson, that "financial capitalism" and system it produces is basically a BS which not only does not produce anything but metastasizes into political instability both internally and abroad.
SEOUL (Reuters) - Samsung Electronics on Thursday commented for the first time on Intel's decision to outsource more of its chipmaking, but declined to talk about any possible partnership with one its key rivals. Intel, one of the few remaining firms that both designs and makes its own chips, said last week it would lean more heavily on outside factories, or foundry manufacturers, and could even licence technology from outside firms.
It is clear the United States is being demolished as an industrial country and, if to follow a rather convincing, albeit not perfect, theory that the United States is merely a vehicle for global finance then it inevitably leads us to a conclusion that the life of the United States as a useful economic vehicle is over and the demolition is in progress. This view, certainly, has its merits. I am sitting here with a bucket of pop-corn waiting to see the sequence of the largest cognitive dissonances in the camp of fanatic libertarians and laissez-faire enthusiasts, primarily from GOP--I do not count Democratic Party as sane political organization--who will have to now try to defend a real economy's demolition by the ideology which is in the foundation of their MO--making money, anyway they can. Again, let's recall that day in 2000.