Bear Pit: now the sole domicile of politics at LuLa

[LesPalenik]

Arguing he was playing golf is just silly.  Obama played golf.  Most presidents play golf. 

Could be an American thing. Trudeau, Merkel, Macron or Putin never wasted time on such a bourgeois thing. Not even Kim Ung Yong or Saudi King.

[Alan Klein]

You can't bear to talk about the nonfeasance and malfeasance of Trump that caused the needless deaths of hundreds of thousands of Americans, and the only way out of it for you is to change the subject to Cuomo.

Trump made decisions with one eye on not destroying the American economy.  So did the governors and they're still making these decisions.  I see you stopped blaming the president now that Biden took over.  Now it's the governors who are making the decisions.  Well, they always made the decisions.  In any case, none of them can be blamed for trying to foresee the future and hoping their decisions had the best outcomes.  But this situation with Covid left no good choices for anyone.  We were damned if we did and damned if we didn't.  All the blaming was just politics in a presidential election year.

[Robert Roaldi]

... Meanwhile, your Canada is way behind in getting vaccinations out because your leadership failed, unlike ours.   ...

Where do you get the idea that Canada is "way" behind? Lots of people I know have received their vaccinations. By my reckoning, we were 3-4 weeks later than parts of the US. It was never going to be the case that every country got them at the exact same time. Given that Canada's rate of infections were significantly less than the US, per capita, you could make the case that you needed the vaccines more urgently than us.

I don't know why we were a few weeks late starting, maybe someone screwed up as you suggest, that would not be a surprise. But compared to Trump's failure to take action for close to a year, it doesn't seem like that big a deal to me and I'm one of the people waiting.

I do not understand why you invariably turn a discussion into a Canada vs US thing. You seem to be personally invested in Trump's reputation. Why?

[faberryman]

Arguing he was playing golf is just silly.  Obama played golf.  Most presidents play golf.  Trump pushed the CDC and HHC and other organizations to process Warp Speed.  He's the boss and gets the credit and blame for everything.  You blame him for governors' mistakes after all. So why doesn't he get the credit for what his departments do?

When you admit that Trump's nonfeasance and malfeasance resulted in the needless deaths of hundreds of thousands of Americans, we can discuss giving credit to Trump for whatever he did that was beneficial, if anything.

[Alan Klein]

Not only Biden is moving the whole vaccination process along, but he is fixing also the economy. Good time to put some of those stimulus checks into Amazon or Tesla shares.

https://finance.yahoo.com/news/us-economy-is-forecast-to-grow-more-165922515.html

Printing money does not fix an economy.  If it could, why not give everyone $100,000 each instead of $1400?  The market's a bubble. Be careful with Tesla and Amazon.  Amazon's PE ratio is 78 to 1.  Tesla doesn't even have a ratio because it doesn't earn any money. Yet its valuation is above Toyotas.  That's nuts!

[James Clark]

Printing money does not fix an economy.  If it could, why not give everyone $100,000 each instead of $1400?  The market's a bubble. Be careful with Tesla and Amazon.  Amazon's PE ratio is 78 to 1.  Tesla doesn't even have a ratio because it doesn't earn any money. Yet its valuation is above Toyotas.  That's nuts!

Why do you think Tesla doesn't earn any money?

[Alan Klein]

Where do you get the idea that Canada is "way" behind? Lots of people I know have received their vaccinations. By my reckoning, we were 3-4 weeks later than parts of the US. It was never going to be the case that every country got them at the exact same time. Given that Canada's rate of infections were significantly less than the US, per capita, you could make the case that you needed the vaccines more urgently than us.

I don't know why we were a few weeks late starting, maybe someone screwed up as you suggest, that would not be a surprise. But compared to Trump's failure to take action for close to a year, it doesn't seem like that big a deal to me and I'm one of the people waiting.

I do not understand why you invariably turn a discussion into a Canada vs US thing. You seem to be personally invested in Trump's reputation. Why?

Why do you waste all your time complaining about Trump?  You're obsessed.  Seems like you'd have better things to do as a Canadian. 

[Alan Klein]

Why do you think Tesla doesn't earn any money?

I was basing it on an article I read that they lost money.  I didn't know they made a profit in 2020.  So I checked and you're right - here's the data.  One thing about the earnings.  They made $1.58 in energy credits for three years including 2020.  So they'd have negative earnings if not for that if I understand how it works.  I assume with Biden, regulatory credits for green energy will continue.  But if you strip them out, they have no earnings, in fact, a loss, which again is a consideration for investing in them.  Of course they may turn out to be another Apple. 

For 2020, Tesla reported a profit of $721 million on about $31.5 billion in sales, supported by the increase in deliveries and higher revenue from regulatory credits. That compares with an $862 million loss and sales of $24.6 billion in 2019.
https://www.wsj.com/articles/tesla-tsla-4q-earnings-report-2020-11611708257
 

[LesPalenik]

Printing money does not fix an economy.  If it could, why not give everyone $100,000 each instead of $1400?  The market's a bubble. Be careful with Tesla and Amazon.  Amazon's PE ratio is 78 to 1.  Tesla doesn't even have a ratio because it doesn't earn any money. Yet its valuation is above Toyotas.  That's nuts!

Your information is not accurate. It took Tesla several years to get into a profitability (and at one time they almost didn't make it, similar to Apple), but now they are in a very comfortable cash position and on tear with car deliveries and other new products. Both, Tesla and Amazon have high Price/Earnings ratio especially when analyzed in the conventional way, but if you look at it from the point of innovation and disruptive technology, they both have a very bright future. As do many other disruptive technology companies. Tesla's car business size alone may be similar to Toyota, but they are active in several other sectors, and considering the future potential in those fields, their share price may turn out a bargain. You may want to look at the some of the Cathie Wood's articles or videos to appreciate the incredible potential of those companies.

[faberryman]

Why do you think Tesla doesn't earn any money?

I was basing it on an article I read that they lost money.  I didn't know they made a profit in 2020.  So I checked and you're right - here's the data.

Shoot first, ask questions later.

[digitaldog]

Shoot first, ask questions later.

He's been shooting blanks for awhile 😝

[faberryman]

Printing money does not fix an economy.  If it could, why not give everyone $100,000 each instead of $1400?

Argumentum ad absurdum.

[LesPalenik]

I was basing it on an article I read that they lost money.  I didn't know they made a profit in 2020.  So I checked and you're right - here's the data.  One thing about the earnings.  They made $1.58 in energy credits for three years including 2020.  So they'd have negative earnings if not for that if I understand how it works.  I assume with Biden, regulatory credits for green energy will continue.  But if you strip them out, they have no earnings, in fact, a loss, which again is a consideration for investing in them.  Of course they may turn out to be another Apple. 

For 2020, Tesla reported a profit of $721 million on about $31.5 billion in sales, supported by the increase in deliveries and higher revenue from regulatory credits. That compares with an $862 million loss and sales of $24.6 billion in 2019.
https://www.wsj.com/articles/tesla-tsla-4q-earnings-report-2020-11611708257

You have to read more on the new technologies, you'll like it. I find Tesla news much more exciting than the political discussions. Also articles on genomics and biotech companies.
Elon Musk's Neuralink company is developing human brain-machine interfaces. Just imagine all LuLa posters with such an implant will be able to access instantaneously all references on discussed subjects. Or sunrise times for any planned photo location.

https://en.wikipedia.org/wiki/Neuralink

[TechTalk]

Misconduct includes both the sexual charges and the nursing home issue.

Wait a minute. Now you're referring to the nursing home "issue"? In your accusation about Cuomo, before your link to the article, you didn't refer to an "issue". You accused him of "causing deaths in nursing homes". The article included one reference to nursing homes and it was in regard to data reporting not Cuomo "causing deaths". Which is why you're now referring to it as an "issue" instead, to water down your previous statement about "causing deaths" which prefaced your link to the article.

Except for that mention, the rest of the article focused on sexual harassment allegations. Nowhere did the article say anything about Cuomo "causing deaths in nursing homes" as you stated in your preface to the link to it. Then you accuse me of not reading the article when I said your "post above accusing him of causing people to die" was "unrelated" to the article you linked. I read it. There was nothing in it about an impeachment investigation into Cuomo "causing deaths in nursing homes".

The state legislators who sit on the judiciary committee are the ones who wrote the letter

Really? I've seen multiple articles about the letter calling for resignation being a joint statement from 59 Democratic NY state senators and assembly members. None said it was written by "the judiciary committee". Where did you come up with that nugget?

which included charges about sex and nursing homes and wanting the governor out.

The letter mentioned sexual harassment allegations, nursing home data, and lost confidence. It said nothing about "causing deaths in nursing homes" or had any mention of "the judiciary committee".

https://www.courthousenews.com/wp-content/uploads/2021/03/cuomo-letter.pdf

[TechTalk]

How Operation Warp Speed Created Vaccination Chaos (January 19, 2021)

States are struggling to plan their vaccination programs with just one week’s notice for how many doses they’ll receive from the federal government. The incoming Biden administration is deciding what to do with this dysfunctional system.

https://www.propublica.org/article/how-operation-warp-speed-created-vaccination-chaos

For each of the past three weeks, the federal government got about 4.3 million shots. But the amount that each state is sent has fluctuated as Operation Warp Speed changes the quantities available week by week.

State health officials say the unpredictable shipments have led to chaos on the ground, including the inability to quickly use up all of the doses sent to them. The week-by-week system also makes it hard to plan for the second doses that everyone needs because they come three or four weeks after the initial dose.

“It’s a huge problem. When you’re setting up clinics and registration systems, you have to have some idea of the supply,” said Lori Freeman, chief executive officer of the National Association of County and City Health Officials. “If you’re starting and stopping all the time, it can lead to confusion in the community — they’ll think you don’t know what you’re doing.”

As President-elect Joe Biden’s team prepares to take over on Wednesday, officials are aware of the problem and will have to decide how to address it, according to a member of the transition team. Sorting it out will be critical to meeting Biden’s goal of 100 million vaccinations in his first 100 days.

[faberryman]

Trump made decisions with one eye on not destroying the American economy.  So did the governors and they're still making these decisions.  I see you stopped blaming the president now that Biden took over.  Now it's the governors who are making the decisions.  Well, they always made the decisions.  In any case, none of them can be blamed for trying to foresee the future and hoping their decisions had the best outcomes.  But this situation with Covid left no good choices for anyone.  We were damned if we did and damned if we didn't.  All the blaming was just politics in a presidential election year.

So it's like t-ball: no winners, no losers, everyone did his best, so everyone gets a certificate of participation, whether he listened to experts, both economic and scientific, or just winged it.

[Alan Klein]

You have to read more on the new technologies, you'll like it. I find Tesla news much more exciting than the political discussions. Also articles on genomics and biotech companies.
Elon Musk's Neuralink company is developing human brain-machine interfaces. Just imagine all LuLa posters with such an implant will be able to access instantaneously all references on discussed subjects. Or sunrise times for any planned photo location.

https://en.wikipedia.org/wiki/Neuralink

We'd have nothing to argue about.  What fun would that be?

[LesPalenik]

We'd have nothing to argue about.  What fun would that be?

I'm sure some individuals could overcome such a conundrum.
In a way, some resemblance of the described situation exists already now. For instance, the same facts about Tesla are widely available and accessible by everyone and yet, in the investment community there are Tesla bulls and Tesla bears. It depends how their individual brains process or filter out the information.

[Alan Klein]

Your information is not accurate. It took Tesla several years to get into a profitability (and at one time they almost didn't make it, similar to Apple), but now they are in a very comfortable cash position and on tear with car deliveries and other new products. Both, Tesla and Amazon have high Price/Earnings ratio especially when analyzed in the conventional way, but if you look at it from the point of innovation and disruptive technology, they both have a very bright future. As do many other disruptive technology companies. Tesla's car business size alone may be similar to Toyota, but they are active in several other sectors, and considering the future potential in those fields, their share price may turn out a bargain. You may want to look at the some of the Cathie Wood's articles or videos to appreciate the incredible potential of those companies.

I think Elon Musk is a risk-taking genius.  He reminds me of Howard Hughes for those old enough to remember him. I just think Tesla stock is overpriced. Also, while their capitalization may be roughly equal in stock value, Toyota sold 11 million vehicles against Tesla's 300,000.  A company can be a great company but it's stock price can be overpriced just like a less than great company valuation can be underpriced.  It certainly is in the right place at the right time, especially with Biden pushing green energy.  He's got his fingers in batteries, solar, EV's and other related green industries as well as private space rockets.  Maybe if I were younger I would invest.  Frankly, purchasing Tesla may be passed where you should have bought. 

As far as Kathy Wood who I've listened to, you know you're right until you're wrong.  There's been a lot of investment advisors who've been like comets in the night.

[LesPalenik]

I think Elon Musk is a risk-taking genius.  He reminds me of Howard Hughes for those old enough to remember him. I just think Tesla stock is overpriced. Also, while their capitalization may be roughly equal in stock value, Toyota sold 11 million vehicles against Tesla's 300,000.  A company can be a great company but it's stock price can be overpriced just like a less than great company valuation can be underpriced.  It certainly is in the right place at the right time, especially with Biden pushing green energy.  He's got his fingers in batteries, solar, EV's and other related green industries as well as private space rockets.  Maybe if I were younger I would invest.  Frankly, purchasing Tesla may be passed where you should have bought. 

As far as Kathy Wood who I've listened to, you know you're right until you're wrong.  There's been a lot of investment advisors who've been like comets in the night.

Tesla shares are overpriced if you look at their past history. If you look at 2025-2030 horizon, and if Tesla executes according to their plan, then the 2020 share price will turn out a bargain.

Where did you get 300,000 cars? in 2020, Tesla sold 500,000 cars and this year projection is for 800,000 - 1,000,000. Later this year, Austin and Berlin car factories will start production and they will double the combined output in 2023. In a couple of years, the revenue from autonomous driving software, Robotaxi service, solar roofs, and large house wall batteries will exceed the car hardware revenue.  Not counting revenue from several other products currently under development.