Via EricPetersAutos.com,
Here’s a tale of two start-up car companies: Elio Motors and... Tesla.
One execrable, the other admirable.
Elio is developing a low-cost ($6,800 to start) very high mileage (80-plus MPG) commuter car.
Tesla builds expensive toys.
We reported in 2010 that the American Dream has moved abroad.
We provided additional details in 2013 and 2014.
Today, a very powerful insider - the President of the most powerful Fed bank, the Federal Reserve Bank of New York, Bill Dudley - confirmed that the American Dream has left the house:
Submitted by Howard Kunstler via Kunstler.com,
Washington Continues To Destroy Latin American Reformers
Paul Craig Roberts
it has been a rather quiet session, which saw Japan modestly lower dragged again by a lower USDJPY which hit fresh 17 month lows around 170.6 before staging another modest rebound and halting a six-day run of gains; China bounced after a slightly disappointing CPI print gave hope there is more space for the PBOC to ease; European equities rose, led by Italian banks which surged ahead of a meeting to discuss the rescue of various insolvent Italian banks, while mining stocks jumped buoyed by rising metal prices with signs of a pick-up in Chinese industrial demand.