Business

On My Mind – August 29, 2022

Some thoughts on Twitter’s whistleblower, the similarities of Elon Musk and P.T. Barnum, the New York Times and the Washington Post carrying water for the Deep State, the surge in Adderall prescriptions, and my prescience about Bed Bath & Beyond.

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Joe Biden’s Wing and a Prayer EV Conversion

Barack Obama reportedly once said, “Don’t underestimate Joe Biden’s ability to f— things up.” The Biden Administration’s wing and prayer electric vehicles policies demonstrate Obama knew what he was talking about.

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James Butler & Ford’s $1.7 Billion Legal Reckoning

Meet James Butler, the lead plaintiff counsel responsible for the landmark $1.7 billion product liability award a Georgia jury last week issued against Ford Motor Co. Butler shared some pointed comments about Ford after the company defiantly issued a statement saying the verdict wasn’t “supported by the evidence” and that it planned to appeal.

Companies that choose to do legal battle with Butler do so at their own risk. Butler has secured eight verdicts in excess of $100 million, four of them records at the time they were awarded.

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Unsafe At Any Speed Redux

A $1.7 billion verdict a Georgia jury hit Ford Motor Co. with last Friday was likely illustrative of the anger the public would exude if they understood the faulty products the automotive industry knowingly foists on consumers. The accelerated conversion to electric vehicles will undoubtably make matters worse.

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Congress to U.S. Workers: Screw You!

Every working- and middle-class American, and Americans who still love and care about their country, should understand why JP Morgan Chase CEO Jamie Dimon last week told his bank’s wealthiest clients that one of his few securities investments is a Mexican ETF.

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Kyrsten Sinema: Wall St.’s Guardian Angel

“Until the average American realizes that capitalism damages her livelihood while augmenting the livelihoods of the wealthy, the Almighty Dollar will continue to rule.”

Does this sentiment seem consistent with a Democratic Senator who singlehandedly protected super wealthy private equity partners and investment money managers from losing a tax loophole that saves them tens of millions of dollars in taxes?

Allow me to introduce you to Arizona’s Kyrsten Sinema, easily among the most enigmatic persons ever elected to Congress, and the Senator of choice for more than 50 billionaires, only one of whom lives in the Grand Canyon State.

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Gavin Newsom’s White Male Privilege

Joke’s on you if you think the Green New Deal is solely about saving the environment. It’s increasingly about putting more green in the hands of the 1 percent at the expense of the middle and working class.

Gavin Newsom, California’s multimillionaire governor, is doing his part to protect the super-rich from getting hit with a tax that would fund his ambitious environmental goals. Here’s some insight on the guy who thinks he’d make a great president.

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Congress’ Make the Rich Richer Bill

The proposed Inflation Reduction Act concocted by Senate Democrats is shameful public policy that incentivizes GM and Ford to continue building in Mexico their highly profitable luxury electric vehicles most Americans can’t afford. The bill also disfavors GM and Ford competitors who build better and more reliable EVs.

Adding insult to injury, the proposed bill allows private equity billionaires to maintain an obscene tax break that even Bill Ackman has publicly called “a stain on the tax code.”

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How to Mercilessly Punish U.S. Airlines

Americans were once famed for a “rugged individualism” so fierce it sparked a revolution. The defiant spirit has diminished over the centuries, but hopefully there are still Americans with some fight in them.

In the tradition of the Massachusetts colonists responsible for the “Boston Tea Party” protesting taxation tyranny, here’s how to oppose the tyranny of the U.S. airline cartel and make Delta, United, and American feel some real financial pain while lining your pockets with extra cash.

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