I'm stumped on that one Seb. Clearly, Tesla is unique on that front.
Journalist at Bloomberg. Author of The Everything Risk newsletter.
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I'm stumped on that one Seb. Clearly, Tesla is unique on that front.
Tesla hasn’t executed on ANY of its master plans by the way. So this is pure fantasy
LOL. Fantasyland Tesla Will Derive 80% of Its Value From Optimus Robot, Musk Says www.bloomberg.com/news/article...
Tesla denied having fatal crash data until a hacker found it arstechnica.com/cars/2025/08...
At Trump's urging, Missouri jumps into redistricting race to help Republicans www.npr.org/2025/08/29/n...
Bluesky now platform of choice for science community arstechnica.com/science/2025...
Elon Musk is lying about Tesla’s self-driving and I have the DMs to prove it electrek.co/2025/08/28/e...
This ESPN piece says Amorim is at fault for not being more improvisational with his system. He sticks slavishly to 3-4-3. He certainly isn't doing any better than Ten Haag, probably worst tbh
Manchester United have a squad value of $1 billion. Grimsby Town? $4.3 million. Absolutely shambolic. www.espn.com/soccer/story...
It doesn't take a rocket scientist to figure out that we are slowly seeing Trump try and gain control of all important US institutions: Universities, TV stations, the Federal Reserve, cities, and now rail transport
Trump Administration to Reclaim Control of DC’s Union Station www.bloomberg.com/news/article... Now Trump will have direct control of the key rail hub between the Northeast Corridor and the South.
Chinese EV Hits 294 MPH, Becomes World’s Fastest Electric Car www.autoblog.com/news/chinese... Video is pretty sick. Scenery flies by so fast
If you think the attack on the Fed's Lisa Cook has nothing to do with you, you're wrong — any one of us may be next paulkrugman.substack.com/p/we-are-all...
How much longer can the AI spend growth be maintained? The seeds of doubt about how quickly AI can deliver returns are already forming.
Interesting reading: Japan's Labor Market under Demographic Decline www.boj.or.jp/en/about/pre... "demographic shifts that began in the 1980s are now producing acute labor shortages and persistent upward pressure on wages" @weisenthal.bsky.social calls this the most important speech at Jackson Hole
“Houston Detective Kyle Stringer noted that real officers do not wear ski masks.” True.
FBI Searches Home of Trump Critic Bolton Over Documents Probe www.bloomberg.com/news/article... Trump using the federal government to attack another one of his list of enemies from the first term
The CEOs of the country's lowest-paying large companies made $17.2 million on average last year. Their workers made $35,570.
ALL I ASK IS ONE DAY WITHOUT TARIFF NEWS AHHHHH
Trump’s Justice Department is investigating whether DC police officials falsified crime data apnews.com/article/trum... this is to provide a pretext for a more complete takeover of DC's law enforcement
“While the injunctive relief ordered by the court is well crafted to curb defendants’ business culture, the court’s disgorgement order, which directs that defendants pay nearly half a billion dollars to the State of New York, is an excessive fine”
BREAKING: A New York appeals court has just thrown out the penalty from Trump's fraud. A perfect example of why Trump ran to protect himself from prosecution
"The UK, one of the first countries to pay the US the equivalent of protection money in its agreement (with Trump) in May" on.ft.com/41OdgNT Trump’s roving banditry will undermine the US economy
Trump Committed Fraud By Inflating His Assets, Judge Rules www.forbes.com/sites/alison...
Remember this: Trump Inflated Assets by $2.2 Billion, NY Says in Fraud Case (1) news.bloomberglaw.com/white-collar...
SpaceX says states should dump fiber plans, give all grant money to Starlink arstechnica.com/tech-policy/...
Trump Pledges Unconstitutional Order to Limit Mail-In Voting After Putin Chat www.rollingstone.com/politics/pol...
Why Russia Sold Alaska to the U.S. www.nytimes.com/2025/08/15/w... ”Russia was moved to sell Alaska partly because of a war in Crimea, a peninsula that the Russian Empire annexed in 1783 under Catherine the Great.”
Tesla Banked $11 Billion By Selling Regulatory Credits. Now The Party's Over. insideevs.com/news/767939/...
Trump Administration Said to Discuss Taking Stake in Intel www.bloomberg.com/news/article...
This defines what's happening in markets perfectly: "Markets are bending the knee to Donald Trump, opening up the possibility of a new level of recklessness in the US president’s economic policymaking." www.ft.com/content/045d... via @katie0martin.ft.com
White House to Vet Smithsonian Museums to Fit Trump’s Historical Vision www.wsj.com/politics/pol...
“He promised he would do this and now he’s following through on those promises.” www.rollingstone.com/politics/pol...
"Trump has long believed he should be able to wield the might of military forces on American soil in ways more commonly associated with authoritarian states. He now has a government stacked full of loyalists who want to help him realize this goal." www.rollingstone.com/politics/pol...
What watching business/markets coverage feels like right now:
*EJ ANTONI SUGGESTS SUSPENDING MONTHLY JOBS REPORT: FOX BUSINESS This is the new Trump BLS appointee www.congress.gov/118/meeting/...
An exit-motivating event is always a black swan-ish trigger like the April swoon on tariffs. We can't know beforehand or it would be priced in
America Has Completely Blown Any Sort Of EV Transition ”Nearly every other country is moving off gasoline more quickly than America.” insideevs.com/news/768551/...
This is the market's biggest vulnerability. Everyone knows stocks are overvalued but no one is underweight. Whenever there's a rush for the exits, it's going to be frightful
Further confirmation that Trump only reacts when markets or the economy falls. He’s afraid of the impact of tariffs on Chinese goods like goods on no other country
Federal agents spread out across D.C. streets amid Trump's vow to crack down on crime www.npr.org/2025/08/11/n... Violent crime is down at 30-year lows
Defense Secretary Pete Hegseth reposts video of pastors saying women shouldn't vote www.npr.org/2025/08/09/n... You've been officially warned that they don't believe in universal suffrage
Scott Bessent is now acting IRS commissioner "Treasury Secretary Scott Bessent will serve as acting commissioner until a permanent replacement is in place" www.nytimes.com/2025/08/08/u...
This was my first thought: Mexico’s President Says U.S. Forces Are Unwelcome in Her Country www.nytimes.com/2025/08/08/w...
Trump Directs Military to Target Foreign Drug Cartels www.nytimes.com/2025/08/08/u...
Holy moly. This is right. I got a response with 21 states including Connecticut, Illinois, Indiana, Massachusetts, and Minnesota from ChatGPT
"War is Peace," "Freedom is Slavery," and "Ignorance is Strength."
List: Who Trump Has Targeted for Retribution www.nytimes.com/interactive/... Anyone on this list has to expect the DOJ to come after them in the next 3 1/2 years
The market is at a record high. For Donald Trump that's vindication. It means: 1. More aggressive tariff policy 2. More aggressive tactics in punishing perceived enemies 3. More aggressive moves to bend the whole civil service to serve his wants The higher stocks go, the more aggressive he gets
DOJ Opens Investigation Into NY AG Letitia James Over Trump Suit www.bloomberg.com/news/article... Trump told you beforehand he had an enemies list and would use the DOJ to go after them. That's what Americans voted for apparently
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3% and higher inflation is coming: "Our trend inflation models suggest a persistent underlying inflation rate, with monthly mean and median estimates holding steady at 3.0% and 2.9%" -Deutsche Bank
"In choosing a White House insider as governor, Trump has shown he is more interested in central bank influence than in its independence." www.bloomberg.com/opinion/arti... via @bobburgess.bsky.social
"Erika McEntarfer... The widely respected economist was confirmed on a bipartisan 86-8 Senate vote, with support from Vice President JD Vance, who was then an Ohio senator, and Secretary of State Marco Rubio, then a Florida senator." www.nytimes.com/2025/08/02/u...
"Private companies are not in the business of creating public goods, which is what economic statistics from the government are." www.bloomberg.com/opinion/arti... This concept that the private sector is always better has certainly lead to worse healthcare outcomes. Statistics would be no different
100%. And the disingenuousness of it is alarming. Hassett had to have known the math didn't work.
In May 2000: "We say emphatically that stocks are undervalued today and that people could hold them and feel comfortable. You can use different assumptions and get a 55,000 Dow, but we are very comfortable with 36,000."
To give you a sense of how bonkers Hassett's views of the market were here's a piece from May 2000: Will the Dow Ever Hit 50,000? We still haven't seen Dow 50,000 25 years later www.aei.org/articles/wil...
Where @delong.social reminds us of how Kevin Hassett predicted Dow 36,000 right before the tech wreck caused stocks to crater. braddelong.substack.com/p/yes-kevin-...
Trump claimed he helped secure India-Pakistan peace. India's Modi told Trump directly he didn't mediate peace with Pakistan. India “does not and will never accept mediation,” he said. Then India got hit with 50% tariffs www.bloomberg.com/news/article...
If you watched the Trump - Stephen Moore thing, it's clear the integrity of US data is at risk here. There's no other way to interpret that session replete with giant 3x5 foot charts. I think it may have just been the propaganda visual needed to justify coming data changes.
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The nomination of a devout loyalist like Miran to serve on the FOMC underscores that this will be a criteria for the person nominated to replace JPow. We are not likely to get Waller folks…
Capital Economics of Miran’s future at the Fed beyond January: “Assuming he enthusiastically votes for the interest rate cuts that Trump desperately wants, he should be renominated for a new term to follow that.”
It is worth noting that the key economists / analysts have been correct (so far) on the impact of policy. GDP slowdown (but not recession - yet). Inflation picking up (and more to come). International tourism down, especially in Summer. Sluggish hiring. All were predicted.
There's no chance Miran goes into the FOMC without wanting an aggressive cutting regime down much lower than even the Fed's 3% so-called neutral rate. None. His role is to act as Trump's agent at the FOMC and flush out who is willing to take his side.
In September, imagine the Fed cuts 25 basis points after more weak but not dire jobs numbers - something like 235k avg initial claims, 4.3% unemployment, 75k NFP print. Miran dissents and calls for 50bps given downward revisions. What does Waller do? That's Miran's purpose. Draw him out.
On Waller, if he isn't for eventually cutting to 1%, how is Trump going to countenance having him as Fed Chair? I assume Miran is a foil that will help flush out which side Waller is on bsky.app/profile/jc-e...
If this story is an administration trial balloon, it's getting a lot of loft. Markets people seem very happy with the idea. www.bloomberg.com/news/article...
*TRUMP: HAVE CHOSEN DR. STEPHEN MIRAN FOR FED GOVERNOR Trump says he wants 1% fed funds. Will Miran dissent if they don't cut 50 or 75bps next meeting? I assume he will dissent at every meeting now until we get to 1%.
"The numbers for July are coming in from Europe and Tesla registrations are down 41.6% despite EV sales surging across the old continent." electrek.co/2025/08/05/t... How Musk deserves 96 million shares given this performance is beyond me
Trump says 150% tariffs on pharmaceuticals are coming
Donald Trump’s Super Pac has amassed almost $200mn thanks to a big injection of cash from the crypto industry, giving the president an enormous war chest ahead of the 2026 congressional elections. on.ft.com/4m08Qf1
Musk gifted 96 million shares by board www.bloomberg.com/news/article...
”If we get similarly weak numbers next month, the Fed may even do a 50bps cut. Behind the soft headline numbers, actual job growth might be even weaker given distortions from B-D (birth-death) adjustments”
On the worsening labor market: ”The July release was remarkable not just for the downside surprise in NFP and extremely large revisions, but the upward move in the UR to 4.248%, a smidge away from rounding up to 4.3%.” - Steve Englander, Standard Chartered
”one should not be under the illusion that the proliferation of private sector “big data” indicators over the past decade can substitute for high quality federal data… these indicators are benchmarked to the federal data, as private sector data are very rarely nationally representative” JPMorgan
FYI bsky.app/profile/calc...
Goldman: “The Bureau of Labor Statistics (BLS) will publish a preliminary estimate of the benchmark revision to March 2025 nonfarm payrolls on September 9th. We estimate a downward revision on the order of 550-950k”
”It’s hard to depend on that data, if the data can’t be depended on.”
Trump’s first BLS Commissioner, Bill Beach, calls today’s firing groundless and dangerous. www.friendsofbls.org/updates/2025...
None of the US data will be believable now. The US is basically an emerging market. It has none of the hallmarks of a trustworthy advanced economy
Trump's dream of building a ballroom at the White House is becoming a reality - $200 million www.npr.org/2025/07/31/n... JayPow, you watching this?
Elon Musk’s Boring Co. Is Turning Into a $900 Million Flop www.bloomberg.com/news/feature... My take: Musk is all about subsidies. There weren't enough subsidies on offer to scale as with his other businesses Tesla and SpaceX. Even SolarCity had that problem until Tesla bought it
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Tesla’s ‘robotaxi’ rides in San Francisco have a human at the wheel www.theverge.com/news/716867/...
Powell made clear his view is representative of the overwhelming majority of FOMC members - most outside of Waller and Bowman. So that means a shadow dot plot has just one cut in 2025 by my reckoning. Chances of zero cuts this year are increasing /END
First, Powell said "early days". That means, as long as the labor market doesn't crater he wants to wait. Second, he said the pass through of tariffs looks to be importers eating margin and eventually higher prices. Both of those things argue for NOT cutting anytime soon /2
On the Fed and tariffs: "I think you have to think of this as still quite early days... And the evidence seems to be mostly not paid, paid only to a small extent through exporters lowering their price" via @weisenthal.bsky.social www.bloomberg.com/news/newslet... Some thoughts /1
”Roughly 15 percent of the sample in the other 72 areas also was suspended from collection, on average. Collection suspension affects both the Commodity and Services Pricing survey and the Housing survey -BLS on data collection impact of staffing shortages
”To align survey workload with resource levels, BLS suspended data collection for portions of the Consumer Price Index (CPI) sample in select areas across the country starting in April.” www.bls.gov/cpi/notices/...
Donald Trump’s New Crypto Bible Is Everything the Industry Ever Wanted www.wired.com/story/donald...
Mexico just got another 90-day extension
"Our internal estimates show that the effect tariff rate was only about 9-10% in May... Recent announced tariffs suggest we could easily see a doubling of the effective tariff rate between now and the end of the year" via @dianeswonk.bsky.social kpmg.com/us/en/articl...
Eric Trump’s stake in a four-month-old Bitcoin mining venture could be worth $367 million when it goes public in coming weeks
DOGE: "The BLS has reduced data collection and the scope of some surveys due to staffing challenges over the past year. In February, prices for less than 10% of commodities and services in the CPI collection effort were based on imputation. By June, that share rose to 35%"
AI and tariff have caused job cuts to leap higher www.bloomberg.com/news/article...
The Tesla Model X And Model S Are Dead In Europe insideevs.com/news/767444/...
A lot of the inflation numbers you see are down to guesswork
