Today’s Campaign Update
(Because The Campaign Never Ends)
- Elon Musk is a very creative guy. We all know it, and often admire it. He’s the guy who’s going to colonize Mars, the guy who’s going to roof your house with solar shingles and pave highways with solar pavers. He’s also the guy who is now bringing us the Tesla 3 electric motor car, his new, more compact and sporty model for which he claims to have already received 500,000 orders. It’s all so wonderful, and his giant PR operation issues about 27 press releases a week bragging about his every move. Well, ok, not quite every move.
- Here’s what Elon Musk’s thousands of PR agents never brag about: None of his very creative ideas work without very heavy government subsidies. The fact is that his various ventures in the United States alone have already brought him more than $5 billion in government subsidies, a legacy of the crony capitalism in which the Obama Administration was so heavily engaged. That amounts to about half of Musk’s personal net worth, and those subsidies are the only reason his car company has been able to eke out “profits” in just 2 quarters during its entire existence. Indeed, buyers of Teslas in the U.S. receive a big subsidy check from the federal government – the subsidy for the new Tesla 3 is $7500 – and also received state subsidies from taxpayers in many states. California’s state subsidy (because of course California has a taxpayer subsidy for this stuff) is $2500, meaning that preening celebrities like Leonardo DiCaprio can make themselves feel better by buying a Tesla, and enjoy a gift of a total of $10 grand from middle class America. Cool, right?
- Musk is facing a growing backlash over all his very creative rent-seeking endeavors, but the simple fact is he has to have the subsidies to remain in business. For proof of that assertion, all one need do is observe Tesla’s experience in Hong Kong this year. Tesla had sold thousands of cars the first three months of this year, when the Hong Kong government had a large subsidy in place, but when that subsidy was eliminated at the end of March, Tesla received a total of ZERO orders for its cars in Hong Kong during April. No subsidies, no sales, and pretty soon, no company.
- So, if you are so inclined, go out and get your Tesla soon, while the subsidies are in existence and the company is still in business. But don’t buy one in Texas – Texas offers EV subsidies through auto dealerships, but no subsidies for the factory-direct Tesla, which does not do dealerships. Go to California and make the taxpayers there foot part of the bill for your awesome new car. They’ll enjoy it – they’re used to being screwed by their state’s government.
- Sen. Manchin thinks he’s the Honey Badger. Honey Badger don’t give a s–t, either. – Ok, West Virginia Democrat Senator Joe Manchin has now gone full nitwit. He’s obviously been given the party’s polling data indicating that Democrats can now cuss their way to re-election, data that has led Senators like Kirstin Gillebrand and Al Franken, along with DNC Chairman Tom Perez to go on cursing sprees all over the country in recent months. Here’s what Manchin said in an interview with the Charleston Gazette: “I don’t give a s–t, you understand? I just don’t give a s–t,” he said. “Don’t care if I get elected, don’t care if I get defeated, how about that. If they think because I’m up for election, that I can be wrangled into voting for s–t that I don’t like and can’t explain, they’re all crazy.” Democrats really do believe this is an effective strategy to attract votes from Millenials. I suspect, though, that Millenials don’t give a s–t about it. Just a guess.
Just another day in don’t give a s–t America.
That is all.