Is that including dividends reinvested?
totally, and obama continued many wars and started several new ones, and bush was a fucking monster before him, as was clinton. trump is american continuity in material terms, he's only a break in the system in aesthetic terms
as an aside, i wish he didn't put his stuff behind paywalls. he seems very well heeled already.
there's a park I visit regularly that has a beaver dam and lodge in it, and last time there were huge rains the dam was washed out and the entrance to the lodge was exposed. that allowed predators or maybe domesticated dogs to get in and some time after that my child found a dead adult beaver out in the park. I was really concerned that the lodge was done. however, the last time I visited I saw that the dam was pretty much rebuilt and there was a new lodge with fresh tracks/signs of wood chopping. they're such wonderful animals
I guess those people are pro-ISIS
Furthermore, America had allies — which, as Phillips O’Brien emphasizes, are a vastly underrated source of national power. China may sometimes make alliances of convenience, but no more than that. The U.S. could and did build a powerful alliance system, because America was more than a nation: It was an idea and a set of values, values we shared with the rest of the democratic world. And you should always bear in mind that Europe, in particular, while it sometimes acts weak, is an economic superpower in the same league as China and America.
OK, you know what’s coming: Since taking office, Trump and his minions have been systematically demolishing each of these pillars of U.S. strength.
has he been reading the news the last 25 years? look at the difference between allies america brought in to operation desert storm against iraq in the 90s vs the coalition of the willing against iraq in 2003 vs operation amazon prime against yemen/ansarallah in 2024. the idea that trump specifically has eroded these allies is ridiculous.
and the streaming platform will have ads to online betting places where you can bet on what kind of violence will be applied to the next victim
I don't have access to that full article but in general the sentiment is correct. the rare earth industry is extremely technically sophisticated and there simply isn't the expertise needed to build a separate supply chain for all these things. each rare earth is unique and requires unique feedstock and processing systems. the resultant product has to be quite pure for it to be used in high end applications (i.e. military gear), meaning things need to be designed and operated correctly on a consistent basis to make appropriate product. literally no aspect of the west is set up to build multiple pieces of large scale infrastructure in an integrated fashion without promise of near term profitability.
arnaud's article notes something like 'maybe 20 years for profitability' but I think that is optimistic. looking back at china's rise in rare earth land, they made it a national priority in the early 80s and by the early 2000s were dominant in the sector for the world. call it 20 years to build that sector under central planning. western governments are not set up to do central planning and will just get eaten by grift (see also any high speed rail project, any nuclear project, any bridge building, all of which are something like 0.1-1% of the complexity of building an independent rare earths supply chain). But even setting the greater efficiency enabled by central planning vs market forces aside, china has clearly stated that they intend to continue supplying rare earths to non-military sectors. that means that any western RE industry would still be competing with china's products for consumer goods (i.e. they will not be able to compete and will thus derive no profit from this end of the sector, unlike the situation during china's RE rise).
the lack of expertise also shouldn't be discounted. I work in a related sector and it's truly astounding to me how even extremely well known, completely public technologies can be implemented badly. I'm talking about fairly simple, 1 to 2 step chemical processes that require minimal specialty equipment, and I still see things royally fucked up on a regular basis. the complexity of rare earth extraction and more critically, refining, requires use of much more sophisticated technology, chemistry and reagents. this is expertise that the west doesn't have, because it's been outsourced to China for the last 50 years. meanwhile, during the period where the US is trying to create a rare earth's industry, china will not sleep and will continue pushing fundamental research from theory into practice.
I really hope that china sticks to its guns on this one and doesn't roll back these export restrictions to military applications. the longer they stand and are enforced, the more western military materiel will moulder away and the less capacity the empire will have for waging war.
For sure. The multipolarity infosphere has so much uncited nonsense floating around, it's helpful to have sources
Right on, thank you comrade
a few intersecting items on Canadian fearmongering about China. only the last of these is new, but elements of each of these stories was new to me.
The Two Michaels
spoiler
recently Michael Kovrig, one of the infamous "Two Michaels" wrote a dumbass oped about China bad. The oped is not worth reading unless you want to see citations needed foreign policy trope words. However, this stupid bullshit reminded me that the two Michaels still exist so I wanted to see what happened since they were released.
Background on the two Michaels was that in 2018 Canada arrested the Huawei CEO Meng Wanzhou at the behest of the US. China then retaliated by arresting the two Michaels (both diplomat/lanyard types) in China for spying. 3 years or so later in 2021, Meng was released and shortly after, so were the Michaels. During this period there was all kinds of righteous indignation and histrionics from Canadian media and politicians across the major Canadian political parties about how eeeevil and authoritarian the Chinese government is to arrest poor smol bean diplomats.
The new to me element of this story is that subsequent to his release, Michael Spavor sued the Canadian government for making him accessory to espionage in China and successfully settled out of court for about $7m CAD. His case was basically that he was used as an unwitting dupe, sharing information about the DPRK to the other Michael and on to Canada. This particular issue of Canadian policy putting diplomats in a grey area where they are doing espionage while under diplomatic cover (i.e. spying in contravention of the Vienna Convention) was the subject of a government watchdog report (article summarizing report) about how much Canada fucked up on this. This report was completed in 2021 but wasn't publicly released until end of 2023, long after the story had died down.
In short, the two Michaels were definitely spies, albeit one unwittingly so. This is evidenced by Canada settling for millions of dollars with the unwitting Michael out of court and is supported by a report authored by a Canadian watchdog organization that is part of the federal government. All the fearmongering and histrionics about China arresting spies was bullshit and nonsense, as demonstrated by the statements and actions of the Canadian federal government. This whole incident was incurred by Canada embracing a vassal relationship with the US, not because of Chinese perfidy.
The "Secret Chinese Police Stations"
spoiler
Another idiotic anti-China story in Canada was the so-called secret police stations, where the idea was that Chinese consulates and cultural centers were used by the see see pee to secretly intimidate and do law enforcement against ethnic Chinese people in Canada (Canadian citizens or otherwise). The RCMP, the federal Canadian police originally formed to implement genocide against Indigenous people, recently closed their investigation into this in Montreal with no charges laid. "The force recently confirmed it has closed the investigation into the Montreal centres, and is not recommending that charges be laid for the moment. RCMP have not confirmed whether the investigations are still ongoing in Toronto or Vancouver."
Yet again, the news here is that a Canadian federal body is explicitly admitting that this is nothing. more fearmongering and bullshit. Good thing they endangered a bunch of Chinese Canadians though.
finally, Stellantis and tariffs
spoiler
Continuing in its service as a US vassal, Canada has followed the US in anti-China tariffs, with the message that tariffs on Chinese EVs are there to "protect the Canadian auto industry". How's that going? Well, yesterday Stellantis (formerly Chrysler) announced that they are moving major production lines from Brampton, Ontario to the US in response to US tariffs and US demand for domestic investment. 3 years ago, the Canadian feds & the province dumped $1b into this specific factory to support automaking in Canada . What an awesome private public partnership that clearly helps Canadians. The message from Stellantis is that "they have plans" for the plant. Sweet. Meanwhile, tariffs on Chinese EVs remain, so Canadian residents get fucked on both sides: no cost effective Chinese EVs and continued sacrifice of Canadian manufacturing jobs on the altar of US vassalage.
these stories aren't directly connected, but I think they help illustrate how Canadian politicians baselessly fearmonger about China and make it harder to actually improve the lives of Canadians, while getting absolutely fucked by the US over multiple administrations.
It depends, if you just do a price chart comparison it usually doesn't include dividends but total annual return does.