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" ... All these years I had thought, as the credulous public is supposed to, that raising tax rates brings in more revenue, and that cutting rates brings in less—that the Laffer curve, in a word, is crank economics, that it is nonsense. “Mob Lawyers,” one blogger once called defenders of this kind of logic. But here I found a very captain of industry, quoted acceptingly in our paper of record, saying that the very success of the tobacco juggernaut owes to getting governments hooked on the tax revenue! And once governments have that kind of skin in the game, their opposition to the Laffer curve idea vanishes like night into day. ... "
" ... Donziger is finished, and the fact that a few credulous folks continued to advance him funds in reliance on the corrupt Ecuadorean judgment confirms P.T. Barnum's ageless adage. In any case, Donziger must now purge his contempt by remitting all funds he has obtained with respect to the Ecuadorean suit to Chevron. If he does not do so by May 28, Donziger will be subject to other sanctions (criminal contempt?) in addition to "a coercive civil fine [payable] to the Clerk of Court." The fine will "begin at $2,000 for May 28, 2019 and shall double for each subsequent day during which Donziger fails fully to purge himself of this contempt." Check out the factorial table for 2 and you will get an idea of Donziger's exposure. And there is no guarantee that people related to Donziger, including his wife (to whom Donziger directly transferred substantial sums), are not themselves in serious legal jeopardy. ... "
" ... Looking at the Street consensus for Tesla’s earnings, it would appear that buzzwords have taken over for real, finite analysis, a conclusion that could be drawn from watching CNBCs credulous coverage of Musk’s colossus. I am seeing a Wall Street consensus of $8.1 billion in revenues for Tesla for the third quarter of 2020 and $9.5 billion for the fourth quarter of 2020. ... "
" ... So, what does Apple have that carmakers would need? Not manufacturing expertise. Except for a manufacturing facility outside Austin that makes extremely-high end Mac desktops, Apple doesn't make any of its products. Foxconn makes the iPhone for Apple on a contract basis. So, Apple only offers something that the credulous buffoons who “follow” Tesla on the sell-side attempt to goose their TSLA price targets with: economic value attributed to ’’connectivity.” ... "
" ... The credulous folks at CNBC mindlessly transmitted Snap management’s statement that daily average users (DAUs) grew 20% year-on-year in Q12020 without performing the basic tech industry analysis of sequential comparison. In the midst of the greatest lockdown in modern human history, Snap’s DAU base grew only 5% sequentially in the March quarter. A base of 229 million users seems tiny in comparison to TikTok’s base. Estimates of the size of TikTok’s user base are all over the map, but ByteDance did disclose 400 million users for Douyin in its recent annual report filing. My assumption is that TikTok’s reach comfortably exceeds that of its Chinese cousin. So TikTok’s billion or so user base easily dwarfs that of Snap, and tech investors know that no company (and stock) ever wants to be dwarfed in Silicon Valley. ... "