Is it time for the West to rethink its economic model?
Chart @econovisuals thru Michel A.Arouet
Too much tax kills the tax...
The saying "too much tax kills the tax" refers to the concept of the Laffer curve, which suggests that excessively high tax rates can actually lead to a decrease in tax revenue. This happens because high taxes can discourage economic activity, leading to less income and ultimately, less tax to be collected.
There are now 9 US companies with a market cap above $1 trillion:
Microsoft, Nvidia, Apple, Amazon, Google, Meta, Tesla, Broadcom, and Berkshire Hathaway. A decade ago, Apple was the largest company in the US with a market cap of $750 Billion. Source: Charlie Bilello
⚠️US consumers are struggling: More than 50% of US consumers are not able to cover a $2,000 emergency expense using only savings.
Nearly one-third cannot cover $500, according to the Fed survey released Wednesday. Most Americans have no savings. Source: Bloombrg, Global Markets Investor
The Economist: The solar+battery model is working.
California gets 75% of its power from solar midday. Batteries now kick in for 30% at night. Battery capacity jumped 32x since 2018. Source: @jason on X
Buying a Tesla is becoming more and more affordable with each passing month.
The average price of a used Tesla has moved down to a record low of $28,662. That's 58% below the peak price from July 2022. $TSLA Source: Charlie Bilello
Hermès just surpassed LVMH to become the world's largest luxury company.
"We're about craft, we're not machines" Source: Finchat
The Evolution of Trading
Source: Barchart
