Household Debt At New All-Time High, and Tesla

Horrifying charts: Household Debt At New All-Time High (link to .pdf file).

We've tried in recent weeks to bring attention to what we believe will come to be known as one of market history's greatest frauds and collapses, as well as a stock that will become synonymous with a bear market that is already underway and should continue for years to come.

Of course we mean Tesla.

It's become impossible to keep up with the celebrity CEO's erratic behavior and pronouncements, much less the tsunami of reports of customer dissatisfaction and major quality issues with the vehicles and the epic delays in getting parts or repairs when customers are actually able to contact anyone who might seem to care at the service centers, stores or head offices.

If you keep up-to-the-minute with markets you already have some idea, and if not then we couldn't even suggest where to start.  Rap stars, allegations of drug abuse, pop starlets, out-of-the-blue assertions by CEO Musk of the biggest leveraged buyout in history having "funding secured" arguably in flagrant violation of serious securities laws, all while no one else on the planet seems to know a thing about said "secured funding", SEC investigations, Saudi Wealth Fund, the Board of Directors leaking info to the press and securing lawyers while seemingly distancing themselves from the CEO, and it goes on and on and on and on.

Not a few hours goes by without a fascinating twist or a new apaprent lie, all while longs and shorts alike wait for clarity and a major move one way or the other.

Recall the time when Musk publically called a hero who risked his life to save trapped children a "pedo"?  That was just a few weeks ago and made international headlines, yet now seems like a quaint distant memory.

We're short the stock, increasingly so, and very happy to be.  In our estimation it's a garbage company making garbage products run by a sociopath and his sycophants who in due time will be ridiculed and reviled in the same paragraphs as people speak of those who ran companies such as Enron into the ground.   

We'll add at least this fascinating article to the list however: Elon Musk, Tesla, and the Solar Roof Tile Fraud

 



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