Your letters about government fearing the people:
“I’m about 60 and I’ve yet to see one. As long as our government has the IRS, no American can ever be truly unafraid of the government. Particularly when politicians are unaccountable for weaponizing it.”
Very well said. Also a great pivot to tax season, more on that next week. Moving on:
“Our forefathers stood for yes to be yes and no to be no. Today’s leaders stand for nothing except how they can benefit themselves. All citizens must be held accountable to the Constitution no matter what.”
On an armed citizenry keeping government in check:
“I know the government really will not be afraid of me and my weapons as it is illegal for a citizen to own the types of weapons… [the government owns.]”
The paradox. Can you be truly free without missiles and tanks.
Net / net do you consider yourself free?
Is freedom absolute or does it exist on a spectrum? We’re all certainly better off that we don’t live in, say, North Korea. But is Kansas more free than California?
Think it through. How free are you?
Your Rundown for Friday, April 5, 2019:
A Busy Friday Ahead
Stories worth watching today…
Bloomberg reported last night Ecuador intends to expel Julian Assange, possibly today, from its embassy in London.
Evidently there’s a deal in place with the British government to arrest Assange immediately upon his exit from the embassy.
Also after-market yesterday, Bloomberg reported Ray Dalio believes “flaws in American capitalism have created destructive and self-reinforcing gaps in education, social mobility, assets and income – and the result could be another revolution.”
One wonders if Dalio has held this belief for some time, or if this is a new finding for him.
The conscience of the super rich must be a murky place, filled with terrors us normal folk cannot fathom.
Stepping off our soapbox, we turn our attention to Tesla this morning. Sorry, we have to.
Tesla (NASDAQ: TSLA) shares fell $24.03 or 8.2% yesterday to $267.78.
The company reported 63,000 vehicle deliveries in Q1, a 31% drop.
Company sales guidance for 2019 remains between 360,000 and 400,000 vehicles according to MarketWatch.
Quick math: Not going to happen. Of course, trying to talk reality to raving Tesla bulls is foolish.
For the record, we’re not saying Tesla isn’t revolutionary. What we are saying is if you buy or if you hold Tesla stock, you have no one to blame but yourself.
The quicker Apple and Ford get together in a joint venture and buy Tesla, the better.
Unemployment numbers are almost out – estimates say 50-year lows hold. Under 4% is functional full-employment.
Wages are growing – on pace for an annual increase of 3.4%.
Everything’s great, right?
Tell Ray Dalio we’re fine.
Market Rundown for Fri. April 5, 2019
S&P 500 futures are up 2.50 at 2,885.
Oil’s off $0.24 at $61.86.
Gold’s down $3.00 at $1,291.
Bitcoin is up $99 at $5,010. Still don’t care. You?
Have a good weekend. We’ll talk Monday.
For the Rundown,