Economy

The stock market is crazy.

"hese dangers start with the market’s demented internals—such as Amazon at 187X earnings, Netflix at 219X or Tesla valued at $62 billion. And the latter is after the company racked-up an unbroken string of cumulative losses which total $3.6 billion over the last decade, and with no profits visible anywhere on the horizon, either.
What is visible, by contrast, is the sheer mania in the capital markets which have fed its cash burning machine with more than $10 billion of capital—-including last night’s announcement that Tesla will issue $1.5 billion of junk bonds to fund the launch of its Model 3 “people’s car”."

But Musk is government's golden boy.