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There Are 2.7 Trillion Reasons Why Tesla Won’t Rule The World

There Are 2.7 Trillion Reasons Why Tesla Won’t Rule The World
News of mass “performance-based departures” at Tesla, reported yesterday by the San Jose Mercury News has underscored the fact that Elon Musk and company have burned through a ridiculous amount of cash in the past two quarters alone, raising questions about why the company would choose to cut nearly 10% of its workforce when the assembly line for the company’s... Read More

Pay-TV Companies Tank As Subscriber Losses Surge To Record Highs In 2017

Pay-TV Companies Tank As Subscriber Losses Surge To Record Highs In 2017
As the broader markets casually melt-up to new record highs with each passing day, one small corner of the equity market is in full on meltdown mode: cable and satellite pay-tv providers.  Down anywhere from 3-10% on the week, investors in this space seem to be finally admitting that record subscriber losses, quarter after quarter, just may end up being... Read More

Goldman Is Allowing Its Clients To Bet On The Next Financial Crisis

Goldman Is Allowing Its Clients To Bet On The Next Financial Crisis
Just over a decade ago, as the S&P was hitting all time highs and there was a line around the block of 30-some year old hedge fund managers, desperate to put other people's money in various ultra risky investments just so they could pick a few excess bps of yield over Treasurys - a situation painfully familiar to what is... Read More

Employer-Sponsored Healthcare Deductibles Surge 400% In Past Decade; 13x More Than Wages

Employer-Sponsored Healthcare Deductibles Surge 400% In Past Decade; 13x More Than Wages
We spend fair amount of time discussing the soaring costs of Obamacare, but, as the Kaiser Family Foundation points out in a new study, employer sponsored plans, while not as bad as Obamacare, are also gradually pushing more healthcare costs onto their employees through surging deductibles and co-insurance payments all while wages remain fairly stagnant. As Kaiser notes, the average... Read More

Ron Paul Asks “Will Tax Reform Increase Or Limit Liberty?”

Ron Paul Asks “Will Tax Reform Increase Or Limit Liberty?”
Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity, President Trump and the congressional Republican leadership recently unveiled a tax reform “framework.” The framework has a number of provisions that will lower taxes on middle-class Americans. For example, the framework doubles the standard deduction and increases the child care tax credit. It also eliminates the alternative... Read More

Visualizing The Many Failures Of Elon Musk

Visualizing The Many Failures Of Elon Musk
Elon Musk is having a rough week. After confessing to investors and Tesla’s customers that the company had only managed to build 260 of the 1,500 Model 3 Sedans that it had promised to deliver by the end of the third quarter, the Wall Street Journal revealed that the Tesla had not yet finished building the Model 3 assembly line... Read More

One Chart Explains What Bernie Madoff And Kentucky Public Pensions Have In Common

One Chart Explains What Bernie Madoff And Kentucky Public Pensions Have In Common
If Bernie Madoff taught us anything it's that every successful ponzi scheme requires precisely one critical component to keep it afloat: a steady stream of fresh capital to fund redemptions.  Absent that key component, even the most carefully crafted ponzi, with the best, most creative accounting fabrications in the world, will inevitably fail from a lack of real, cold, hard... Read More

Odey Sees “Terrifying” Outcome Between Arrival Of MiFID, End Of QE

Odey Sees “Terrifying” Outcome Between Arrival Of MiFID, End Of QE
There is a dark cloud of tangible desperation over Crispin Odey's recent monthly letters, and not only because he went "all in" on central bank failure exactly one year ago... and failed. With his fund down 10.6% YTD, and down 31% LTM, he knows he may have 1 Hail Mary left, two tops.  Which explains why as of August 31,... Read More

SEC Files First-Ever Civil Fraud Charges Against ICO Companies

SEC Files First-Ever Civil Fraud Charges Against ICO Companies
That didn't take long. After issuing a ruling in July that officially declared that the tokens sold during initial coin offerings must be registered as securities - a ruling that many hoped would lend a badly needed veneer of legitimacy to the shady ICO market - the SEC is following through with what we imagine will be the first of... Read More

Stagnation Is Not Just The New Normal – It’s Official Policy

Stagnation Is Not Just The New Normal – It’s Official Policy
Authored by Charles Hugh Smith via OfTwoMinds blog, Japan is a global leader is how to gracefully manage stagnation. Although our leadership is too polite to say it out loud, they've embraced stagnation as the new quasi-official policy. The reason is tragi-comically obvious: any real reform would threaten the income streams gushing into untouchably powerful self-serving elites and fiefdoms. In... Read More