Cyclotron
I can't say that tariffs are the solution; the news suggests that vast amounts of investments are being made in the US and other Western countries for manufacturing. That could be fake news.
The total is around 4 trillion dollars for the US in 2025, as announced so far. The EU has committed a considerable amount to semiconductors and related technologies.
I don't mean to be too critical of the U.S. and Canada is in a similar situation.
What I see is some countries moving away from tangible assets like the gold standard and printing trillions in worthless paper money to artificially inflate their economy at others expense. It can work for a while until others lose confidence and they can no longer pay the interest on their debt. This is what were seeing today. It doesn't matter if they print 100 trillion dollars if nobody buys into the bs.
In effect, it's just another pyramid scheme not based in reality or boots on the ground doing useful work. Similar to the 10 year old who randomly bought bitcoin at fractions of one cent and became a billionaire. There is no demonstrable value in it unless others buy into the bs, ergo it's not capitalism just another pyramid scheme.
This is why many countries like China locked the U.S. out of their economy. They realized the dollar was basically worthless and would not allow them to buy real assets having real value for next to nothing. Many countries demanded to be paid in gold which of course never happened.
As well, what were seeing now as increased investment and manufacturing in the U.S. is not through capitalism and increased productivity but extortion. Trump literally threatened to destroy other countries if they did not comply. Once trump is gone I suspect we will see a severe backlash because of what happened. The collapse of tourism and exports is just the tip of the iceberg imo.
As for Musk, I'm sure there's always a good time to poke fun at him. I'm sure it gets him in the feels. For all the hate he gets, it's hard to argue with his company's successes.
I don't hate Musk in any sense of the word, I just don't buy into all the bs. As you implied, facts are facts and all Musk's companies have grossly overinflated evaluations. Musk always tends to make false claims he cannot follow through on. In fact, wall street claims tesla stock is 70% overvalued. So in fact it's not a trillion dollar company in any sense of the word.
But aside from all of that, I see a lot of criticism in your post. I don't see any indications of solutions. I know AK wants us to roll over and take it; is that your solution, too?
The only solution is always demonstrable progress and innovation not grossly overinflated evaluations and pyramid schemes. So of course I am very critical of all the bs I am seeing. It has real consequences for all the people I know who actually work for a living.
As far as I know, there's no gold-backed currency in the world. The US has long held a privilege and a certain amount of power because international trade is often in the USD. China would like to take that position as it would enjoy similar power. Does the US deserve the position? That's debatable for sure. But if I were to compare the two, it is in the West's best interest to maintain the standard in a Western economy. China has every right to be wary of the US and the West; our way of life and values do not align with theirs, posing a threat to their way of life. In the same vein, the West or really any more democratic society should see China's wielding of power as a threat to their way of things.
In China, citizens have a social score. I can't imagine living with that. The West has a credit score system, but you don't get demerits for not visiting your parents. Or eating a sandwich on the train to work. Imagine not being able to use the train or fly because of your credit score.
I really have no insight into how much Musk's companies are valued currently. I'm not directly invested in any of them. The level of technology coming from these companies is substantial. He helms a diverse set of cutting-edge technology companies, AI, implants, broadband, robotics, rockets, EVs, and even a tunnel boring company. But Musk is just leading these companies, and that leadership has attracted talent that has produced these fantastic things. I recall the hair standing up on the back of my neck the day I witnessed the first landing of two boosters on the Falcon Heavy. Boeing told everyone that landing a booster wasn't possible, we watched two land side by side that day.
CEOs are always overly optimistic both publicly and internally.
Leaders in general are optimistic . That can create intentional and non-intentional fairy tales. They must walk a fine line in the US due to forward statements and SEC regulations. But giving optimistic timelines and points of view is typical of every CEO I've worked for. Most CEOs are full of shit.
I don't have any substantial disagreement with your views, though I tend to be more optimistic myself. I unequivocally support the view of builders, workers, and people who create a nation's wealth. I come from very, very poor beginnings, and I know the value of the talent, blood, sweat, and tears of people who are doing their part and more to create something bigger and provide for their families.