The industry is drunk with its own enthusiasm.
“We’re unwrapping the best holiday gift we could’ve imagined,” Google gushed. Automakers beg to differ. You’re not even asked.
This is what happens when a currency spirals out of control.
BMW insiders: Tesla CEO Elon Musk “is using us for PR purposes.” Stung by Daimler’s and Toyota’s exit, he wants to “decorate” himself with the name BMW.
Why the heck did Daimler just now turn its supposedly strategic investment, and one of the hottest stocks, into cash? What does it know that we don’t?
Bank regulators fret about reckless lending and risks to the banks. But when this doozie pops, it will hit sales, production, services, railroads…. It won’t go away quietly.
Abenomics soothsayers and apologists are worried: the August debacle is hard to explain away, even for them.
Subprime giveth, subprime taketh away.
Taxpayers get milked. And California’s environmental laws, signed by Gov. Reagan, get shafted. Very ironic for a company that hypes its “green” credentials.
One of the many oddities of this cycle is that many things that were good in normal times have become bad.