Ode to Elon

[Bill Bonner’s Diary]( Ode to Elon By Bill Bonner Friday, November 12, 2021 What men or gods are these? What maidens loth? What mad pursuit? What struggle to escape? What pipes and timbrels? What wild ecstasy? Heard melodies are sweet, but those unheard Are sweeter; therefore, ye soft pipes, play on – Ode on a Grecian Urn, by John Keats [Bill Bonner] BALTIMORE, MARYLAND – What a wonderful time to be alive! Wait… A news flash… Our [Doom Index]( has just hit “8”… which is “Crash Alert” level. Details on Monday… Meanwhile, the world is just chock-a-block with marvelous, magical, absurd, and absolutely ridiculous things. Like a city sewer in a flood, we are awash in things best not looked at too closely. But since it’s Friday, let us at least take a look at something that happened this very week. 3,519,252 Financial Advisors As every sentient being on the planet knows, Elon Musk, the world’s richest – and clearly, cleverest – man decided to guide his financial life via a Twitter poll. That is, he asked the Twitter-sphere if he should sell 10% of his stake in Tesla (TSLA). This is obviously a novel way of making decisions. And perhaps better. If two heads are better than one… surely, the 3,519,252 poll respondents, including the 2,037,647 who answered “Yay,” raise the quality of the decision at least to a C+. What is most amazing about the whole thing is that 3,519,252 people… all supposedly compos mentis… probably adult-ish… presumably with real lives… actually found the time to weigh in on a financial question that didn’t concern them. The decision would normally be of interest to only one, the very one person who – if results are anything to go on – is the most qualified human being to make the call. After all, if the world’s most successful man can’t decide when to buy or sell his own stock, who can? Recommended Link [Holy Cow, Only $19!]( [ad_img]( “Hi, my name is Jeff Clark. For the past 36 years, I’ve helped people from all walks of life make money in the markets. Retired stockbrokers… presidents of companies… people with almost no financial experience… and everything in between. But I haven’t done it the usual way… My method is different. It’s unlike anything you’ve probably ever seen before. [We’re unveiling it right now for just $19.]( That’s the lowest price my publisher has EVER offered for a trading research service… And it won’t be available for long. [Watch a ‘10-second live demo’ of this method]( to see how it works." [Watch Now!]( -- Have Your Say And now that we see that there are so many people ready to help with our personal decision-making… perhaps we should make use of it. Should we have a café latte this morning… or a cappuccino? You decide for us. Where should we invest? In stocks? Bonds? Farmland in [Argentina]( or [Nicaragua]( (prices are low because they are… like… disaster areas)? Tell us, please. Is it time to buy [a new pair of blue jeans]( Get a COVID booster shot? Wink at the pretty barista? We need guidance. We invite replies and promise to abide by the results as faithfully as we would if they came from the U.S. federal government or the Papal See. [Featured: Introducing: The 3-Stock Retirement Blueprint]( Twitter Says Sell! So, let’s return to the other curiosities surrounding this story. And don’t worry if we get the facts wrong; they hardly matter. What matters is the cockeyed principle of the thing… which is what we’re trying to figure out. In any event, Musk’s poll was taken. The twitterers rendered judgement. And it was in the affirmative. This news then had a remarkable effect (but not at all unanticipated… at least, not by Elon Musk’s bro, Kimbal, who sold $109 million worth of shares on Friday). Earlier this week, Tesla stock fell, wiping out nearly $235 billion from the value of the company. That vanished $235 billion represents more than the combined value of GM, BMW, and Ford. In other words… Well… there really are no words that can do the situation justice. Recommended Link [The Truth Behind the Global Chip Shortage]( [image]( GM and Toyota factories are shutting down... Mass shortages of electronics... Medical device production nearly halted... You may know a global computer chip shortage is happening. You may know something seems to be very wrong... But what you probably don't yet realize--what few so far have figured out... Is what's really causing it. And what happens next for investors. Now a former computer chip executive with over 20 years of experience is stepping forward to tell all... [Click Here to See His Urgent Warning]( -- Elon Effect Investors who judged the stock worth $1,243 on Thursday of last week found it was worth only $1,011 on Tuesday of this week. Same company. Same products. Same earnings. Same markets. Same Joe Biden. Same Elon Musk. Same customers. Same problems. Same weather. Same COVID. Same everything. So why would a share be nearly 19% less valuable? We hope you’re not expecting an answer from us. As far as we can tell, Elon is sui generis… an economic law all of his own. God? Man? We can’t say. But when he pipes up… investors hear melodies so sweet, they can’t resist. If he buys something, it goes up. If he mentions something, it goes up. Even if he mentions something else by mistake, it goes up, too. So far, the Elon Effect is the most reliable indicator in modern finance. [Featured: A message from Jeff Brown on the hottest investment in 2021]( Enrichment of Elon And now, Elon is the richest biped ever to walk on the planet. That is odd, too, considering that up ‘til now, his contribution, in goods and services, is worth (net) less than zero. Add up all the money that has been invested in Elon’s projects. Subtract the value of all goods and services (mainly Tesla cars) rendered. Do this for Edison, Ford, Rockefeller, Jobs, even Zuckerberg – almost any really rich person – and the sum will be hugely positive. Their companies make profits by providing goods and/or services that are more valuable than the resources (including capital and labor) that go into them. We’re not going to do the math for Elon. It’s too much work. But the result must be a staggeringly negative number. His businesses do not make money; they lose it. They destroy wealth; they don’t create it. He is so rich because the Federal Reserve has falsified the value of capital… and rigged the auto market with carbon credits. There is also the mysterious Elon Effect, for which we offer no explanation. Recommended Link [Billionaires, Banks in Frenzy for One Crypto]( [image]( This is a “BUY Before SKY HIGH” warning… Seven billionaires including Elon Musk, Mark Cuban, Peter Thiel, Mike Novogratz, and Marc Andreessen… Along with major banks like JPMorgan, UBS, and Goldman Sachs… Are all racing into one smaller cryptocurrency… (Not Bitcoin.) In 2021 alone, this small crypto soared 4X FASTER than Bitcoin… And over the next decade, this crypto could be worth more than Apple, Amazon, Google, and even Facebook… If you only buy ONE CRYPTO… This is the one you want. [Get the Crypto Name FREE (The #1 Must-Own Crypto).]( -- Enrichment of the Elites The enrichment of Elon, in other words, parallels the growing wealth of the entire elite caste. It is not based on actual output – neither on sales nor on profits – but on fake money and fake interest rates. It favors gamblers… showmen… …geniuses, as well as grifters. And as we saw this week, it goes as well as comes. Regards, [signature] Bill P.S. Here's something you might find interesting… Our old friend, Anya Leonard, has prepared a special presentation called “The Demolition of the American Mind.” It's about why it is so hard for people to think clearly and calmly. In a nutshell, the answer is this: They’re not allowed to. From the playground to the boardroom, they’re taught to avoid independent thinking – or else! Just [click here to see Anya’s free presentation](. --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Ode to Elon). --------------------------------------------------------------- FEATURED READS [Corporate Executives Fear White House Is Disconnected From Inflation]( Reserve chair Jerome Powell and Secretary Treasury Janet Yellen try to reassure Americans that inflation is under control… but America’s top business execs are skeptical, especially of the White House… [Manhattan Housing Prices Are Rising Close to Pre-COVID-19 Levels]( prices in New York, and especially Manhattan, bottomed out during the pandemic as people fled the city and others stopped paying rents. But October’s numbers reveal a recovery, at least in housing… MAILBAG Dear readers have mixed opinions about Greta Thunberg and climate change from[Bill’s earlier essay this week]( Reading the number of commenters on your Greta number I cannot escape the similarity between them and the boneheaded politicos who said January 6 looked like a regular tourist day on The Hill. – John N. The government is willing to listen to a teenager on climate change for the same reason they might listen to anyone, she is a useful tool. – Michael C. Those of your readers who wish to live “carbon free” live in imitation of 13th century peasants (although I may also question their sanity). However, I object to them forcing me to adopt a similar lifestyle in order that they can assume a self-righteous stance that they are “saving the planet.” The arrogance of thinking that by planting a tree or stop eating beef (methane flatulence, you know) can affect normal climate cycles, sunspot activity, cloud cover amounts and a host of other imponderables and unknowables that affect the weather and then predict “doom” 20 years hence seems to be breath-taking hubris. – W. L. M. Other readers agree with Bill’s thoughts on [public policy]( corruption, and the demise of the country… You have thoroughly convinced me that our irresponsible government, corrupt politicians, corporate greed, and society’s abandonment of common sense will destroy America as we know it. Since I don’t know how we can possibly save it, some advice would be greatly appreciated on how retired individuals like myself can financially survive through the next decade without ending up on food stamps living in government housing. – Alan R. Wealth production through inventions and new technologies must keep pace with human needs and socialism demands. Bill Bonner and his associates still make the most sense on the many topics that are basic and important to society, compared to most others. – Alfred A. I appreciate your observations on the insanity taking place in our country. You are accused of being biased because you don’t agree with the biased. I am an 82-year-old white male and cannot believe the direction of our country. Please don’t tell me the country suffers from racism and then promote racism. Keep up the very informative and entertaining information. – Jim I. Was Elon Musk foolish or clever to take to social media to make a big decision? How can retired individuals financially survive through the next decade, dear reader Alan asks? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Ode to Elon). IN CASE YOU MISSED IT… [Buy Mimecast (MIME) Immediately]( Wall Street legend who helped create America’s stock rating system says this stock could soon be rated a “Strong Buy” at every bank in New York City and Boston. “It’s all part of the biggest prediction of my 50-year career on Wall Street,” he says. “A massive and surprising new transition that could determine the next group of millionaires.” [Click here to learn more.]( [image]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. 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