Tag Archives: Elon Musk

Are Tesla’s Sudden China Woes A Harbinger Of Things To Come? by Fan Yu

The thing about doing business in a command economy is you’ve got to stay in good with the commanders, who are sometimes known to be capricious. From Fan Yu at The Epoch Times via zerohedge.com:

o see the impact China’s fickle market can do to a company’s value, look no further than Tesla.

On April 20, the Chinese Communist Party (CCP)’s media and regulators began a series of public rebukes against the California-based electric carmaker. The criticisms were broad, ranging from Tesla’s car safety, to data gathering practices, as well as customer service.

In early June, technology website The Information reported that Tesla’s May China orders fell by nearly half compared to April, according to internal data. Orders fell from 18,000 in April to 9,800 in May, a reflection that Chinese consumers were negatively impacted by the uproar.

And all of this has erased $137 billion in market value as Tesla’s stock price declined 19.5 percent since April 21.

A Series of Unfortunate Events

Tesla has encountered issues all year in China. In February and March, the CCP banned Tesla from its military compounds and housing units on concerns that the company could collect information via the cameras attached to Tesla cars to facilitate spying on behalf of the United States.

In early April, Tesla’s communications and governmental affairs director in China announced that any data collected within China would be stored in China and will not be sent to the United States, in an effort to quell CCP security concerns. This came about after founder and CEO Elon Musk publicly declared that Tesla would not engage in spying.

On April 20, CCP mouthpiece Xinhua published an article from the sidelines of the Shanghai Auto Show slamming the electric vehicle maker on the quality of its vehicles, citing consumer complaints.

On the same day, an official post on WeChat from the account of the powerful Commission for Political and Legal Affairs also drew attention to the Auto Show, when a woman climbed onto the roof of a Tesla vehicle to complain about her car’s faulty brakes. The video of the woman went viral on Chinese social media. While it’s unclear why the CCP organ which oversees the country’s police and court system would weigh in on electric cars, it was nonetheless a powerful rebuke of Tesla.

While Tesla China originally pushed back against this narrative, stating that the woman in question has been protesting against Tesla for some time, later during the same week the company issued a public apology and promised to better listen to customer complaints.

Continue reading→

Elon’s “Earnings”, by Eric Peters

Elon Musk’s subsidy-slurping, tax-credit-trading companies will be the poster children for the Biden administration, like Solyndra was the poster child for the Obama administration. From Eric Peters at ericpetersautos.com:

It is being “reported” that Tesla’s net “earnings” have “surged” to $438 million. What they do not report is that this includes $518 million “earned” via regulatory credits – which aren’t cars. Rather, they are monies mulcted from other car companies, paid to Tesla to get “credit” for not having made a sufficient number of electric cars themselves.

Enough to achieve compliance with government requirements, as in California, that they build a certain number/percentage of them – else pay Elon to get the “credit.” In other words, it is a racket.

A shakedown.

Only legal – like the income tax. But it does not change the nature of the thing. Only the marketing of the thing.

It is very interesting that no major automotive media reports the context about Tesla’s “earnings.” Instead, it is “reported” that Tesla is making money hand-over-fist.

Which is true.

It is also true of the IRS. And of Al Capone. But the media in those days did not cover for Capone. Everyone knew he was a gangster – and to be fair to Capone, he was only that because the government made his otherwise legitimate business – the selling of alcohol to people who very much wished to buy it –  illegal.

The situation with Tesla – and Elon Musk – is morally and legally the inverse. The government has made it illegal for other car companies to not sell electric cars, which most people do not wish to freely buy.

It makes no more sense for Toyota, say, to build lots of electric cars when there is no real market for electric cars than it does for Starbucks to build coffee kiosks in Death Valley. Luckily for Starbucks, there is no government regulation requiring hot coffee to be sold in Death Valley as the price of being allowed to sell hot coffee in San Francisco – so Starbucks doesn’t have to build coffee kiosks in the desert – nor pay some other coffee company that does build them in the desert, so as to get “credit” for it.

Continue reading→

Does Elon Musk’s Igniting Bitcoin Take Us to the Moon? by Tom Luongo

It’s time for the younger generation to step up and kick the oldsters off the stage they’ve occupied for far too long. From Tom Luongo at tomluongo.me:

I’m not Elon Musk’s biggest fan. At best, I see him as equal parts huckster and visionary.

But I won’t lie, as a long-time advocate for Bitcoin both in theory and practice, I welcomed his announcement that Tesla Corp. has a $1.5 billion position in granddaddy of cryptocurrencies.

That’s, of course, assuming that Elon isn’t the world’s biggest troll, which is a non-zero probability in my opinion.

This announcement, on the heels of Musk’s open support of the Redittor Rebellion against Wall Street via Game Stop and Dogecoin, may be the moment where we say this was the turning point.

Because Musk sits at the center of the Venn diagram of today’s cultural dynamics.

He’s an entrepreneur building electric sports cars and commercializing space flight. Tesla and SpaceX, regardless of what you think about them as companies, are aspirational ideas of the highest order.

As libertarians we’ve long decried the public space program as wasteful and inefficient. NASA has stood in the way of private space exploration for decades. And because of NASA’s typical bureaucratic defense of its fiefdom, space exploration slowed to a halt for the past two generations.

Continue reading→

Elon Questions the Cult, by Eric Peters

Four identical Covid-19 tests administered on the same day to one person and two come up positive and two come up negative. Anybody see anything wrong with that? From Eric Peters at ericpetersautos.com:

The Gesundheitsfuhrer of Virginia has just decreed – no law having been passed – that the Holy Rag must be worn in all indoor spaces beginning Sunday and also that the cattle may not gather in groups of 25 or more.

He intends to sic the Gesundheitspolizei on the “noncompliant.” Not wearing the Holy Rag, in other words, will become of more interest to the polizei than crime.

Because the cases! the cases! 

Which brings up the case of Elon Musk – who claims to have tested positive . . . and negative  . . . two times each on the same day.

“Same machine, same test, same nurse . . .”

“Something extremely bogus is going on,” he said.

Now Musk is many things but he’s not poor and so these tests – Rapid Antigen – were the top-shelf items administered by top-shelf medical people.

And they came back incoherent.

Which is one of the many problems with this manufactured pandemic of fear. It is premised on “cases” without symptoms, context or even accurate testing. This being the basis for imposing a breathtaking regime of dictatorial control.

Musk later Tweeted his suspicions that the “spike” in the cases! the cases! is likely due to the “cases” being based on what politeness might style bullshit: “If it is happening to me, it’s happening to others” and – touching the third rail – “revenues from (these) tests are likely not bogus and very consistent.”

Indeed.

There is a great deal of money in the cases! the cases! – especially for the big corporations that are using them – or rather, using their tools in government, such as The Coonman in my state of Virginia – to usher in a new round of lockdowns, which will mostly lockdown corporations’ competitors, the smaller independent retailers and so on that cannot afford to limit their customers to 25 at a time.

Continue reading→

Elon Does Something Libertarian, by Eric Peters

Elon Musk doesn’t think the government should be able to force you to take a vaccine. Too bad he thinks the government should be able to force you to subsidize his companies. From Eric Peters at ericpetersautos.com:

Many libertarians want to like Elon Musk. He just gave them a reason to.

Not because he has decided to stop relying on government to help him sell electric cars.  But because he came out against government forcing people to submit to injections.

Musk isn’t old – or sick – and neither are his kids. Therefore, he reasons, there is no reason to inject himself or them with a vaccine against a sickness that doesn’t pose much if any serious risk to themselves – but which is itself much riskier than the virus it might protect them from getting.

Unless it is a novel vaccine, the pending WuFlu vaccine will at best be partially effective – reports have it that the threshold for FDA approval is 50 percent effective – which means 50 percent not effective – and guaranteed to come with a higher risk of serious side effects than the risk of healthy/not-elderly people getting seriously sick from the WuFlu.

Vaccines have a very sketchy record for being safe.

Continue reading→

 

The Conman Elites That Want To “Save Us” From The Coronavirus, by Brandon Smith

Beware of those who hold themselves out as our saviors from the coronavirus. From Brandon Smith at alt-market.com:

Last week the Federal Reserve released a report predicting that the next print on GDP numbers will likely show a loss 34.9% in the second quarter. This is the biggest GDP plunge since the Great Depression; even the crash of 2008 doesn’t compare.  And when we take into account the fact that the Fed artificially boosts GDP calculations by adding in many non-productive government programs, we have to ask, what are the REAL losses above and beyond what the Fed admits to?

With the supply chain in disarray, many companies (like Apple) are trying to shift their manufacturing base to dodge the pandemic. Of course, none of them want to bring factories back to the US; there’s simply no incentive to do so. And, the small business sector has been crushed by the shutdowns, with the vast majority of those seeking bailout loans still waiting for aid and over 20.5 million employees laid off in April alone.

Needless to say, the economy has been severely affected. The problem is that many people are being led to believe that this event has been triggered by the virus outbreak alone. This is a lie. As I noted back in February in my article ‘Global Centralization Is The Cause Of The Crisis – Not The Cure’, the collapse of the Everything Bubble was well underway long before the pandemic. The crash was started by the Federal Reserve hiking rates into economic weakness at the end of 2018, puncturing the bubble and setting the liquidity crisis in motion.

The pandemic is just the icing on the cake of a collapse that was going to happen anyway. It is also a convenient scapegoat, because now the banking elites are going to escape all the blame for the crash and the public is going to hyperfocus on the coronavirus as the culprit.

Continue reading

Doug Casey on Elon Musk’s Cybertruck

Doug Casey has a diametrically opposite view of Elon Musk and Tesla than most of the alternative media. In the interests of promoting differences of opinion and controversy, here’s Casey from caseyresearch.com:

Chris’ note: It looks like something out of a sci-fi novel… and it’s got everyone’s attention.

I’m talking about Elon Musk’s latest project… his long-awaited “cybertruck.”

As you can see below, it’s not your typical truck:

Now, if you didn’t already know, our founder Doug Casey is a life-long car guy. So I had to get his take on this new truck since it’s truly unlike anything we’ve ever seen.

Below, in a brand-new Conversations With Casey, Doug shares his thoughts…


Chris Reilly, managing editor, Casey Daily Dispatch: Hi, Doug. Let’s talk about Elon Musk’s new Cybertruck…

It looks like something out of a sci-fi novel. What do you think of it? Is it a good idea?

Doug Casey, founder, Casey Research: This latest episode of Adventures with Elon, featuring his strange pickup truck, is most entertaining. Better yet, it’s sci-fi brought to the real world. Elon is like an animated version of Tom Swift Jr. – of whom I was a huge fan when I was a kid. And still am…

Continue reading

Broke billionaires (and other ridiculous signs of the top), by Simon Black

A lot of what’s counted as wealth these days will simply vanish when collapse sets in. From Simon Black at sovereignman.com:

File this one away under ‘completely ridiculous’.

You might have heard that Elon Musk was on trial last week in Los Angeles; he was being sued because he claimed (multiple times) that British spelunker Vernon Unsworth was a pedophile. (He’s not.)

It’s generally damaging to one’s reputation when a world-famous billionaire erroneously calls you one of the worst things anyone could possibly be.  So Unsworth sued for defamation.

Defamation in the United States is actually quite difficult to prove.

In order to win a defamation case in the US, the claimant has to demonstrate that you knowingly said something false, or that you completely disregarded whether or not something was false.

It’s pretty clear that Musk knew his comments were false; he acknowledged that Unsworth is not a pedophile.

But winning a defamation case in the US also requires proving that Musk had the deliberate intent to harm Unsworth’s reputation.  And that’s tough to do.

Continue reading

You’re in Good Hands With Elon, by Eric Peters

The point of electric cars and driverless technology isn’t to make cars safer or more environmentally friendly, but to give the government the ability to monitor and ultimately control where you go. From Eric Peters at ericpetersautos.com:

Imagine if your insurance company knew about it immediately every time you drove faster than any speed limit, anywhere. That you failed to come to a complete dead stop at every stop sign before proceeding – regardless of the need to come to a complete dead stop.

Every instance of seatbelt scofflawism.

That you drove eight hours straight to visit friends in another state; that last Thursday, you “accelerated aggressively” while trying to merge with traffic. That you turned off the traction control the other day – and squealed the tires.

And here comes the bill, custom-tailored just for you.

This is what Elon Musk has in mind next. The King of Mandated Business is getting into the insurance business – a logical thing since car insurance is the original mandated business that set the precedent for the rest of them. It’s an even better business than the electric car business because everyone has to buy car insurance, if they own a car – even if it’s not an electric car.

Continue reading

“He’s Full Of Shit”: New Bethany McLean Expose Eviscerates Elon Musk’s Solar City Bailout, by Tyler Durden

A top-notch investigative reporter goes after Elon Musk. From Tyler Durden at zerohedge.com:

Bethany McLean’s reputation proceeds her, with good reason. She’s mostly known for tackling the Enron scandal and the 2008 financial crisis – two of the biggest financial frauds over the last decade or now. She co-authored Enron: The Smartest Guys in the Room, which was later made into a movie.

And now, she’s setting her sights on Elon Musk and Solar City, something we expected was about to happen last week.

As we said yesterday during our report about Vern Unsworth’s lawyer threatening Elon Musk, the boy wonder has created so many legacy legal liabilities, it is tough to track which ones – and when. Now, it’s appears that one of the biggest whoppers, his “bail out” of Solar City that skeptics such as this website and countless others long believed to be a sham, has finally been thrust into the limelight by an author whose gravitas simply can’t be ignored.

Continue reading→

 

%d bloggers like this: