TESLA AGAIN...AND YET AGAIN

The post shown below in this type was from 2017, and for some reason I continue to see the need to write about Tesla. Market cap this morning, April 2, 2018 is about $43 Billion after hovering around $60 billion for most of 2017. I was squawking about it when the market cap was $30 billion, so I missed a double!

This is one of the most incredible con-jobs in history, fueled by the Obama administration’s emphasis on “wishes” rather than facts. For example, it costs more to fill up a Tesla at the cost of electricity at the “stations” than it does to fill up a Prius.

Remember the 300+ mile range? At 28 degrees Fahrenheit, that range is cut by a third. Image one in Minneapolis?

And another thing—What could that $176 billion in subsidies to wind energy have done for teacher salaries, education in general, roads, other things that government is supposed to be taking care of.

Another way of looking at the $176 billion gone up in smoke to the wind generation folks, if divided up among every elementary and secondary teacher (there are about 3.3 million of them), it would have increased their pay by over $50,000 during that time.

Let's keep beating this drum. I first wrote (not published) about Tesla in 2013 or 2014 and then again published in this blog in August of 2015. Two years ago.

At that time, Tesla's market cap was $30 billion, ridiculous by any measure. Last week it popped to over $50 billion and passed General Motors in the total value of its stock.

Read the old posts here: http://bourbonanddad.blogspot.com/2015/08/tesla-and-tesla-redux.html

Still ridiculous, still resembles a tulip bulb that is valued at more than the ship that delivered it.

Maybe our markets are just not that efficient at times.

As Lee points out in passing along this article, http://www.nationalreview.com/article/436228/wind-energy-subsidies-billions Elon Musk is definitely an expert at acquiring government subsidies. The wind energy business has been subsidized by government to the tune of $176 billion. Watch out below--of that amount, $164 billion is in the form of loans and loan guarantees. Sound anything like Ginnie Mae and Fannie Mae and the 2008 crisis? 

That $176 billion is about $2,200 for every family of four in this country. Every last man, woman, child, transsexual, illegal/undocumented immigrant and politician out there. The info is hard to come by, but that amount is about half the estimated losses in the subprime mortgage crisis, but the total effect on the economy was the loss of value/wealth in the $30 trillion range.

Since we are just about out of things to worry about, worry about wind energy subsidies, the failure of all those loans/loan guarantees and the fallout that happens when that type of thing ripples through the economy. Oh, and don't forget when Tesla's stock falls back to earth...or the dark side of the moon.