Farmer Diaries

Tesla and Truth Social are two strange animals in the US stock market.  First, Tesla has seen terrible operating performance and massive stock grants to its CEO and founder.   The world's single largest stock granted by a 20x order of magnitude.   Yet the company goes from weakness to weakness, and fails to deliver on new products.  The cybertuck is a disaster, the Y and the 3 are not leading the market anymore with falling sales, other brands such as BYD are doing a lot better across the world (not only China).    As for Truth Social, its performance continues to disappoint with massive operating losses, and now the rumors that it will be acquired by an American company active in the nuclear power plant business (Not a single nuclear power plant has been built in the US in nearly 40 years…).  Yet the stock is still trading around $14.00 (the company generated a $55 million loss in the last quarter, and has not generated a profit since incept...

It has started!   Things in Las Vegas have been hard for nearly 24 months now.   The strategy was always doubtful.  How many high rollers were there in reality?  The chase for the higher premium players the massive increase in the cost of visiting "Sin City", and the reality of ageing demographics was certain the result in one outcome:  failure and bankruptcy Las Vegas is a microcosm of the rest of America, a bet made on borrowed monies.   In the past 7 years the debt burden of the average casino has doubled, but more seriously the cost of debt service has grown exponentially, based on unrealistic assumptions.   Bottom line the cost of financing Las Vegas has risen from 1.1% per annum to 6.5% now, and virtually 30% of Las Vegas casino properties are heading for chapter 11 or maybe even chapter 7 (liquidation). An extreme example is the dome, that costed nearly $2.3 billion, and requires that 95% of its seats be sold at a premium rat...