For those keeping score in the home game, the Trump administration - for a 48 hour trip to Ireland to watch a golf tournament - took over 24 cars, 19 motorcycles, and not 1, not 2, but THREE airplanes (AF1, the Qatari 747, and Trump's shitty 757) while you're turning your burgers into sliders to make the ground beef go further. He's totally looking out for you.

So $TSLA had earnings yesterday, and the report just got worse and worse the deeper you read into the report. Margins once again shrank, from 19% to 16%. They missed on EPS by 50% and 800 million on EBITDA. But that's not the funny part. The funniest part? When you dig into the report...they claimed 1.11 billion in GAAP income, but 1.005 billion of that was on-paper gains from $SPCX equity! Pretty much ALLLLL of their income was fake paper. Take that out and their net income was a paltry 105 million. That gives them a 1.4% operating margin at 350x forward earnings. But it gets better! They got 146 million in regulatory credit revenue (you know, the things Elmo keeps saying he doesn't need). Take that out and they had negative earnings. What's all this mean? A couple of things: 1, it means that the company is failing in every regard - especially in execution and 2, it means that Elmo is 100% trying to create an environment to ram through an acquisition of $TSLA by $SPCX so that he can assume full control of the company again, in spite of his stunningly bad stewardship at the helm. Bonus: 25 billion in capex for AI, which doesn't even make them a serious player in the space, as the real leaders in the AI battle are spending 8 times that. So that's just wasted money. Cue the Elmo Cult with their claws out in 3, 2....