Biden CHIPS Act Fraud!
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Joe Biden’s Chips Act fraud. Don’t say we didn’t tell you, we didn’t warn you, we told you exactly what this was. And again, you know, I could just blame it on Biden because you had Republicans supporting this ridiculous, again, it’s stealing. Stealing from you and I. That’s what they’re doing. Yeah, you feel like, what was his name there?
Chip. Remember Chip and Animal House, they’re played by Kevin Bacon. They’re bent over, assume the position, and then Niedermeier starts paddling them. Thank you, sir, may I have another. That’s what it’s like to be an American taxpayer. Whack. Thank you, sir, may I have another. Whack. And that’s what this Chips Act is. And I’m going to explain it to you. Oh, no, we got a question we’re talking about. We need to have chips made here in America, man. America!
Shut up. Just shut up. You don’t know what the hell you’re talking about. And I’ll explain. White House, US Commerce Department, preliminary agreement with Intel. They are taking your money, giving Intel $8 .5 billion in grants and then $11 billion in loans. And let me explain to you some.
I wonder what the interest rate is on those loans that Intel’s getting. I would love to get a low interest $11 billion loan too. Love to, hey, you wanna lend me $11 billion at below market, I’d be fantastic. Hey, I got $8 .5 billion taking other people’s money. Intel has not done well as of late trying to turn the company.
around and they are going to they say they’re going to use this money to significantly expand the construction of Intel chip factories in Arizona, Ohio, New Mexico and Oregon.
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Again, this is industrial policy. This is the wrong direction. The government getting involved in the private sector is an absolute disaster. We’re witnessing what is taking place in China and their industrial policy. How’s that working out for them? We now want to emulate what they’re doing. But, but, but, you know, national security concerns. Oh, give me a break. But please, please stop with this nonsense.
Okay, you don’t know what the hell you’re talking about. You’re a rube if you actually believe this nonsense. Oh, and by the way, by the way, ever think about how much Intel has spent in buying back its stock. Again, it’s got money to buy back its own stock, right? Well, we went, we took a look at the numbers. Since 1990.
Intel has bought back $152 billion of its own stock. Hasn’t built new plants, hasn’t revitalized those plants. Well, it’s done that, but it hasn’t spent that much money. It’s spent more money on buying back its own stock. Let’s just go back. You know, we’ll go back to past couple of years. In 2020, Intel bought back $14 billion.
in its own stock. 2021, it bought back $2 .4 billion in its own stock. 2022, 2023, they haven’t bought anything back. But again, the stock’s cheaper now than it was back then. I don’t know why wouldn’t they buy it back now. Anyway, they’ve got money to buy back their own shares. But they don’t have money to revitalize their plants.
and the Biden administration along with many Republicans feel the need to take money from you and I and give it to them. Yeah, it sounds fair. Watchdog on wallstreet .com.