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Joined 1 year ago
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Cake day: June 27th, 2023

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  • Two points:

    1. It’s the fiscally responsible thing for these pension funds to do. They have diversified investments, including S&P500 stocks. I hope the police and firefighter pension realized all those TSLA gains.
    2. Institutional investors have POWER, and we don’t want all institutional investors to be investment banks. Why isn’t it good news that a union pension fund is holding a greedy board accountable for outsized executive pay? These guys saw a material impact in their investments at TSLA due to board BS and sued the board.


  • Yeah in fairness the article is making that leap as well. But the $ to build an EV factory or a semiconductor fab are so mind boggling that it will dwarf the new construction spend on some of the more traditional manufacturing industries. That said, there are some beautiful buildings- now vacant- in the rust belt that I wish would get re-purposed. The urban ones have likely turned into loft apartments by now, but the rural factory buildings may not ever get used again. Those old brick and stone buildings with the slanted skylights are iconic. I’m not sure they’ll ever get filled again, unfortunately.



  • You’re not a “doomer”, as I read it more like the opposite- your defense of global trade is optimistic. Trade and specialization doesn’t work nearly that cleanly in practice.

    Companies and governments saw the disruptions of the past few years and realized that there are unaccounted for costs (and benefits) to the global supply chain. COVID, shipping disruptions (strikes, Evergreen, prices), the chip shortage, etc. all have taught a lesson about the diversification of supply chain risk. Decentralization isn’t less efficient when you include those costs. So it makes more sense now to make goods in America for America, and make goods in China for China. Not all goods, obviously, but the scales have shifted…and that’s a good thing for the health of global supply.