Falcon

Tesla Suppliers Warn Musk Expansion Goals Are "Implausible"

Having cashed out a few hundred million dollars worth of stock to some dliuted greater fools - with the help of Goldman Sachsthe ugly face of reality of descending on Elon Musk and his government-subsidized car maker. Rather shockingly, given the huge demand, automaking consultants and supply executives, who asked not to be identified, admitted that Tesla has still not finalized the Model 3 design and specifications, warning that Musk's goals were "implausible."

First US Soldier In Iraq Killed By Islamic State During "Enemy Fire"

US "boots on the ground" on Iraq have just suffered their first casualty. Moments ago US Defense Secretary Ash Carter announced that the Islamic State killed the first U.S. serviceman in Iraq who was aiding Kurdish fighters near the northern Iraqi city of Mosul. A statement from the US-led forces in Iraq added the fatality was "a result of enemy fire." "It is a combat death, of course. And a very sad loss," Carter told reporters at a press conference in Germany.

China's Panicked RRR Cut Leads To Feeble Stock Rebound; Gold Resumes Climb

After the G-20 ended in a wave of global disappointment, leading to the biggest Yuan devaluation in 8 weeks, and sending Chinese stocks into a tailspin on concerns the PBOC has forsaken its stock market as well as speculation the housing bubble is now sucking up excess liquidity which in turn pushed global market deep in the red to start the week, it was the PBOC's turn to scramble in a panicked reaction to sliding risk exactly one month after Japan unveiled its own desperation NIRP, and as reported before unexpectedly cut its Reserve Requirement Ratio by 0.5% to 17.0%, the first such cut in 2016 and the 5th since the start of 2015.

Techno-Narcissism - Hard Questions & Ignored Answers

We are lost in raptures of techno-narcissism. We’re convinced that all the unanticipated consequences of our brief techno-industrial orgy can be solved by… more and better technology! Notice that this narrative is being served up to a society now held hostage to the images on little screens, by skilled people who, more and more, act as though these screens have become the new dwelling place of reality.

Frontrunning: December 22

  • Battered oil wins respite, lifts stocks (Reuters)
  • Oil Halts Decline as Emerging Market Stocks Climb on China (BBG)
  • Bonds Set to Beat Stocks Globally in 2015 After China Falters (BBG)
  • SpaceX Falcon rocket nails safe landing in pivotal space feat (Reuters)
  • China Leaders Flag More Stimulus After Top Economic Meeting (BBG)
  • SEC to Retrench Case Against SAC’s Steven A. Cohen (WSJ)

Futures Rise, Drop, Then Rise Again In Illiquid Session After China Promises More Stimulus

It has been a seesaw session with U.S. stock index futures following their dramatic buying burst in the last half hour of market trading yesterday by first rising, then falling, then rising again alongside European equities both driven almost tick for tick with even the smallest move in the carry trade of choice, the USDJPY, even as Asian shares trade near intraday highs after China’s leaders signaled they will take further steps to support growth.

Live Feed Of First SpaceX Rocket Launch Since June Falcon 9 Explosion

In a few minutes, a new Falcon 9 rocket belonging to Elon Musk's SpaceX is set to deliver 11 satellites to low-Earth orbit for ORBCOMM. If all goes as planned, the 11 satellites will be deployed approximately 20 minutes after liftoff, completing a 17-satellite, low Earth orbit constellation for ORBCOMM. Perhaps just as importantly, this mission also marks SpaceX’s return-to-flight as well as its first attempt to land a first stage on land. The landing of the first stage is a secondary test objective.

Tesla Loses More Than $4,000 On Every Car Sold

With the usual two year delay, others such as Reuters, are starting to notice that under the Tesla hood there are nothing but cockroaches. And now that the growth "story" has taken a back seat following the latest guidance cut in deliveries, fears that the company will have to dilute shareholders to keep the "story" afloat, are rapidly emerging. Case in point, Reuters calculation of a fact that was known to most observers but certainly not to retail enthusiasts who "bought the stock just because others bought the stock", i.e., that Tesla loses about $4000 on ever car it makes.

Frontrunning: May 27

  • FIFA Raided by Swiss Authorities in 2018, 2022 World Cup Probe (BBG)
  • Companies Send More Cash Back to Shareholders (WSJ)
  • Time Warner Cable Deal Stirs Debt Concerns (WSJ)
  • Qatar $200 Billion World Cup Under More Scrutiny Amid FIFA Probe (BBG)
  • Philippine, Vietnamese troops play soccer and sing on disputed island (Reuters)
  • The G-7's Problem: Can the World Deal With a Greek Default? (BBG)
  • SocGen Deal for Bache Illustrates Commodity-Trading Woe (WSJ)
  • China’s Naval Abilities Test Asia’s Insecurities (WSJ)