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Chip War Author Chris Miller says China's spending on chips and data centers doesn't reflect the same sense of urgency around AGI seen in the U.S. In response, John Coogan asks whether China is actually behind or simply operating on a much longer timeline. Chris: The puzzle is why...

33,706 views • 1 month ago •via X (Twitter)

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🚨Former BlackRock fund manager Ed Dowd says "China is hoarding copper," which "indicates [it] might be getting ready for war" Dowd paints a GRIM picture of China, noting that its real estate market is "a disaster" and that it's "in a deflationary death spiral because of [its] demographics" "just because they're hoarding doesn't mean the war is imminent. It just means that they're... getting ready for something" "[But] as their economy continues to crumble, they're having the problem of consumers that are doing well... not spending—their saving and hoarding" "[and] there's going to be a lot of unemployed Chinese as we roll forward" This clip of Dowd (Edward Dowd) is taken from an interview with CapitalCosm (CapitalCosm) posted to YouTube on July 14, 2026. ----------------Partial transcription of clip-------------- "We think China is hoarding copper. China is taking— they're buying real assets. They keep printing money to the tune of 10% a year, and they're converting a lot of their trade surpluses into real assets. So they're hoarding. "Look, if you're going to hoard copper, that indicates you might be getting ready for war as well. So there seems to be a hoarding issue going on there. It's not an indication that things are really well in the economy. They continue to just buy and stockpile. "You know, look, just because they're hoarding doesn't mean the war is imminent. It just means that they're just— they're getting ready for something, and they're buying real assets. "One of the biggest problems we have with China is they're 47% of the global money supply. People don't know that... But they have very low velocity of money. That's why— and they're in a deflationary death spiral because of their demographics. So what they're doing with their money, in aggregate, is buying real assets. "And... I think our velocity of money is 1.5. China's I think is point .4 or .6. Much lower than ours. That's why, that's why you're not seeing any inflation in China. In fact, it's the opposite. The savings rate in China is exploding. There's no safety net there. "And as their economy continues to crumble, they're having, they're having the problem of the consumers that are doing well are not spending, their saving and hoarding. "[And the real estate market is] a disaster. But what held them up, the disaster started in 2021, but they had a bunch of long-lived projects that— so construction had only rolled 20%, whereas land, new permitting was down 70, 80%. So that's now starting to roll. "We saw construction year over year go negative in Q1 of this year. So those projects are now rolling off, and all they care about is employment, so there's going to be a lot of unemployed Chinese as we roll forward."

Sense Receptor

15,991 views • 8 days ago

In just 3 minutes, Ken Griffin (Citadel) & Larry Fink (BlackRock) explain the current state of government overspending, AI hype, & 2026 $600B data center CapEx "The world needs a savior, & the hope is that AI is the savior that we need for productivity." "The the area of recklessness is the spending of governments around the world, who are all, with little exception, all spending well beyond their means." Big issue: "Will AI create the productivity acceleration that is honestly just hoped for in Washington & in the halls of government around the world as a ways to overcome the profligate spending that we're currently engaged in?" Citadel BlackRock World Economic Forum . . . Ken Griffin "Let's take a step back and and talk about where we are right here right now. The the area of recklessness is the spending of governments around the world, who are all, with little exception, all spending well beyond their means. That's the recklessness of this moment in history. This is not a parallel to the 1920s in terms of the recklessness of the of the private capital markets. It's a story of the recklessness of government spending. Within the private sector there's a huge question as to where AI will take us. And I, I was carefully taking notes and listening to what Larry has to say, or to what Madame Lagarde has to say, because this is one of the big issues of our moment. Will AI create the productivity acceleration that is honestly just hoped for in Washington and in the halls of government around the world as a ways to overcome the profligate spending that we're currently engaged in? The world, the world needs a savior, and the hope is that AI is the savior that we need for productivity. And the challenge with this is it is, it may or may not be. We just don't know yet. Now there's a tremendous amount of hype around AI, and in some sense the large AI companies need to create that hype to raise the tens — or actually 100, hundreds of billions, right — of billions of dollars of investment that are going into the field. Like you wouldn't be able to raise hundreds of billions of dollars. We'll spend — and Larry can probably correct me on this — but roughly $600 billion this year in cap ex for data centers in the United States. Larry Fink "I think it could be larger." Andrew Ross Sorkin "But does that mean that it's getting hyped up too much, or it's just the the hype is required as a sales mechanism?" Larry Fink "First of all, so much of the data centers are being built for cloud, right? And and the big issue is gonna be in terms of monetization of of of the spend. The data centers are being built for AI requires more advanced chips. The question is what is the lifetime of that chip. If we have new technological changes in the lifetime of the chip in one year, then that spend is gonna be really a bad spend. If the lifetime as they expect it to be is 4 or 5 years and then those chips can be used for cloud, then then I think these investments are gonna prove to be good investments. So I think it's it's gonna be — you know, if the speed of technology changes and all these investments now, they're gonna be — it's gonna be a challenge. But I agree with Ken. I think we don't know enough, but I'm personally very optimistic on how AI is gonna affect the world economy."

Molly O’Shea

33,210 views • 5 months ago

.Scott Nolan to Shawn Ryan: Energy Will Decide U.S.-China Race for AI and Economic Dominance "I think the next decade's going to be all about energy. Even Sam Altman from OpenAI had some recent hearing or talk where he talked about just the evolution of AI. You've got algorithms. Algorithms run on chips, but ultimately the chips need electricity. And what he said, if thinking back to this interview, the algorithms are going to get better and better and better and cheaper, and the chips will get cheaper and cheaper, but at the end of the day, you have to get the electrons, and the electrons have a fundamental price, and ultimately it's going to come down to that. I think even the AI, the AI competition between different companies in the U.S., between different countries, it's ultimately going to come back to the electricity production. Next decade, it's going to be all about power production. AI, military, if you think you need kinetics and military, that comes back to manufacturing. If you think economics, we have to have the biggest economy so that we can just have the most productive capacity, energy. Next decade is going to be all about energy, and we've stayed flat for a decade, for 15 years, we haven't done anything, more like 20 years, our grid's been pretty stagnant, and if we want U.S. leadership, it's going to have to grow. I think that's going to be the story we see, and it's going to be about solving different supply chain needs, whether it's fuel, maybe it's transformers, maybe it's transmission, all these things are going to come up. It's going to be chips. We'd have to go back to that chart and see exactly where is China today, where were they before in terms of per capita, but I think a lot of that production, the doubling of their grid relative to our grid, a lot of that's gone into manufacturing. We've shifted manufacturing from the U.S. to overseas. A lot of that's in China now, we've let them do it. A big part of that, people thought was, well, Chinese labor is much cheaper, but a lot of these processes can be automated. And so once you automate it, it just comes back to energy cost. And so China said, let's double our grid. Let's keep going. Let's work on tripling our grid, and we'll do it in the cheapest way possible because we want to win on manufacturing and get all this economic activity over here. Meanwhile, the U.S. has said, we have a bunch of regulations, which are good, and probably some that are unnecessary and have slowed us down, and so we haven't done the growth, and we've been very thoughtful about emissions, environmental impact, carbon. Meanwhile, China's doubling, tripling their grid and has done a lot of that with coal. And so we've shifted manufacturing here that would have been cleaner over there and just probably ended up net producing more carbon than we would have, more pollutants than we would have, and just kind of outsourced that. But as we know, carbon flows everywhere. If you're really worried about carbon emissions, letting China double their grid with coal and move energy-intensive manufacturing there is not actually the answer. The answer is the U.S. has to unblock building here, doing industrial activity, do it cleanly, do it with nuclear or other sources, even natural gas, half the carbon emissions of coal, and the world would be way better off. Their grid doubling hasn't just meant that everyone there has a better quality of life. I think it just means that we've taken a lot of manufacturing from here and done it over there."

Josh Caplan

28,340 views • 1 year ago

🚨 NOW — JESSE WATTERS NAILS IT: "This is not an equal thing. China and the United States, we have a lot more nukes, we have a lot more carriers, we just beat them to the moon, we just kicked them out of the Panama Canal, and we just wiped out two of their black market gas stations..." "...and showed that we can, if we want to, embargo them if they get frisky with Taiwan — because we control the Straits in the South China Sea and in the Middle East." "And while we've been in Iran, we've been doing war games with all of our billion in weapons to Taiwan, and we have another $25 billion arms package waiting on the president's desk." "He doesn't want to sign it there. It's too humiliating for the Chinese. So he'll wait." "China is still our number one trade partner, though. So there are going to be big business deals announced with Boeing and agriculture. The problem is the chips we make need their minerals." "So we're on a little bit of a smash and grab mineral run all over the world, which has been fun to watch." "We still have about a 50 percent tariff rate on the Chinese, but Trump has cultivated a very good relationship with Xi Jinping over the last eight or so years." "Doesn't mean he's not going to hit him with charges against hacking and spying and dumping." "They love to dump dumping goods all over the world because their consumers don't buy. And the quarantine, along with our chip controls, are really starting to show cracks in the Chinese economy." "So the test is, how long is China willing to wait until they call the gay Ayatollah and say you got to open up the street?" "I think Xi's watching Trump. How long is Trump willing to maintain the blockade on Iran? So right now it's a test of wills. And I think the president is in a good place."

Eric Daugherty

111,405 views • 2 months ago

DAVID SACKS ON THE AI RACE: "The US is currently in an AI race, and our chief global competition is China, obviously. They're the only other country that has the talent, the resources, and the technology expertise to basically beat us in AI. And I think whoever wins this AI race, that's going to have tremendous ramifications for both our economy and our national security. Clearly, we want the US to be the winner, just like we were with the internet, and every other technology revolution before that […] We know that to win this AI race, we have to be the most innovative. You can't regulate your way just to beating your competitor. You have to out-innovate them. And we know that in the United States, the innovation comes from the private sector, not the government. So we have to do everything we can to help our companies win, to help them be innovative, and that means getting a lot of red tape out of the way… We have to have the most AI infrastructure in the US. It has to be the easiest place to build it. All of the new data centers that are going in, they require tremendous power, so getting ahead of the curve on energy, making sure we stand up all of this new infrastructure we're going to need to basically produce these AI factories… We want the US technology stack to dominate globally. We want to be the partner of choice for the whole world… I think everyone in Silicon Valley understands that the way that you win a technology race is to have the biggest ecosystem […] You just want everybody to be building on top of your technology stack, and that's what we want for the United States." David Sacks w/Marc Benioff Dreamforce

Ron Pragides 

231,781 views • 9 months ago