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

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.

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

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.

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.

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!!

With Market tumbling, Inflation Soaring, Is the stock market actually getting better or could this be the regular new year market manipulation to entice new investors? I'm currently sitting on $500k inheritance and just wondering what better assets than stocks to invest in right now

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.

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!

There’s still going to be global trade, but supply chains become more disperse across geographies and the United States is bringing strategic manufacturers closer to home…here and Mexico. With automation, AI, less transportation costs, etc costs will be slightly higher at first then lower over time, but quality will be much better. Also the leverage China currently has over us is significantly reduced.

Very good for the US citizens. I hope we in the EU can pass some similar policy to help our citizens as well. We need to get rid of our dependence on cheap countries production. We have eastern Europe for that.

- 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)

I thought Biden was part Irish but I’d never had thought he would support the IRA to such an extent, especially without backlash from the British.

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

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.

It is fantastic that America is finally investing significantly in upgrading its infrastructure and supply chains! Seeing manufacturing return to America after years of outsourcing is truly beautiful! Make More In America!

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.

Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.

Great video, a number of the most eminent market experts have been expressing their views on the severity of the impending economic downturn and the extent to which equities might plummet. This is because the economy is heading towards a recession and inflation is persistently above the Federal Reserve's 2% target. As I'm aiming to create a portfolio worth no less than $850,000 before I turn 60, I would appreciate any advice on potential investments.

The more free, clean energy any society has, the STRONGER that society’s economy IS!