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Industry data show U.S. manufacturers only account for about 12% of worldwide semiconductor manufacturing capacity, down from 37% in 1990. More than 80% of chip production happens in Asia.

Last week, Ford Motor Co (F.N) warned the chip shortage will slash second-quarter production by 50%. Biden has asked Congress for $50 billion to bolster the domestic chips industry and $50 billion to create a new Commerce Department office to monitor domestic industrial capacity.

Industry data show U.S. manufacturers only account for about 12% of worldwide semiconductor manufacturing capacity, down from 37% in 1990. More than 80% of chip production happens in Asia. Last week, Ford Motor Co (F.N) warned the chip shortage will slash second-quarter production by 50%. Biden has asked Congress for $50 billion to bolster the domestic chips industry and $50 billion to create a new Commerce Department office to monitor domestic industrial capacity.

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"$50 billion to create a new Commerce Department office to monitor domestic industrial capacity.", what the fuck have these idiots been doing all along and $50 billion to create an office to monitor stupidity is a hefty price , I could do it for a cool $billion.