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| US chipmakers begging for government bailout after manufacturing moved to Asia – Max Keiser | US chipmakers begging for government bailout after manufacturing moved to Asia – Max Keiser |
| (about 1 month later) | |
| RT’s Keiser Report hosts Max Keiser and Stacy Herbert look at how the export of the American manufacturing base by technology companies such as Intel has created a semiconductor chip shortage in the United States. | RT’s Keiser Report hosts Max Keiser and Stacy Herbert look at how the export of the American manufacturing base by technology companies such as Intel has created a semiconductor chip shortage in the United States. |
| Stacy quotes an article on Wolfstreet.com that points out that “US semiconductor manufacturing has declined to where it is only 12% of the world’s total.” | Stacy quotes an article on Wolfstreet.com that points out that “US semiconductor manufacturing has declined to where it is only 12% of the world’s total.” |
| In the same article, Intel CEO Pat Gelsinger calls the current supply a problem, “Because relying on one region, especially one as unpredictable as Asia,” where 75% of the chips are now made, “is highly risky.” | In the same article, Intel CEO Pat Gelsinger calls the current supply a problem, “Because relying on one region, especially one as unpredictable as Asia,” where 75% of the chips are now made, “is highly risky.” |
| READ MORE: Volkswagen expects global chip shortage to further hit output with no chance to recoup existing losses – reports | READ MORE: Volkswagen expects global chip shortage to further hit output with no chance to recoup existing losses – reports |
| Stacy points out that, after spending billions of dollars on share buybacks instead of investing in chip manufacturing, Intel is asking the US government for a $50 billion bailout and blaming Asia for creating the problem. | Stacy points out that, after spending billions of dollars on share buybacks instead of investing in chip manufacturing, Intel is asking the US government for a $50 billion bailout and blaming Asia for creating the problem. |
| According to Max, in order to get their hands on more taxpayer money, companies such as Intel are resorting to xenophobic attacks on China and other Asian nations. | According to Max, in order to get their hands on more taxpayer money, companies such as Intel are resorting to xenophobic attacks on China and other Asian nations. |
| “There’s no end to it. The lies, the deception, the racism, the xenophobia, the class war will never end as long as there’s free money available,” said Keiser. | “There’s no end to it. The lies, the deception, the racism, the xenophobia, the class war will never end as long as there’s free money available,” said Keiser. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |