Who were the big winners in yesterday's big Trumptastic stock market rally? Crypto, Tesla, and Wall Street:
Coinbase jumped 31%.... Bitcoin topped $76,000, a record high..... Tesla surged 15%.... Bank stocks surged.... Citigroup was up 8.4%, Wells Fargo jumped 13%, Bank of America rose 8.4%, JPMorgan Chase was up 12%, Goldman Sachs gained 13%, and Morgan Stanley rose 12%.
And there were losers:
First Solar dropped 10%, Enphase Energy tumbled 17%, and other clean-energy stocks fell with a Trump presidency being considered negative for renewable energy companies.
Contrary to what you might think, crypto, Tesla, and banks are mostly the province of the affluent investor class. Green energy companies, by contrast, employ lots of middle-class workers. So.
Working class people voted for this. It would be funny if it weren't so fucking sad and pathetic.
The working class deserves to get what they voted for, good and hard. Alas, they'll take everyone else to hell* with them, but that's how suicide pacts like our Constitution work.
*My personal hell will be hearing Trump's name for the rest of my life, every single fucking day, while assholes like Justin and MF cackle like Nelson Muntz in the background.
Justin is already in his self created hell and MF probably is in his own version as well.
Correction, he's probably already someone elses version of hell.
So, a second Trump administration represents the realignment of the American political superstructure to correspond with the real social relations that exist in the United States.
that's what's so fucking scary and depressing.
Look on the bright side Kevin, the price of solar panels should drop and you can put some on your house to help preserve some of those jobs.
"crypto, Tesla, ... are mostly the province of the affluent investor class" No, their are the province of gullible idiots and people who think they will be able to sell to gullible idiots in the future.
and in a trump world there is a lot of gullible idiots.
Time for a gilding upgrade!
1) A bad thing about the GOP win that people are not talking about is that it will probably result in the IRA being withdrawn. The most useful climate legislation in US history. That will mess with the stock market values of companies...
2) I think Tesla is in trouble in that by so outwardly politicizing himself, Musk alienated potential Tesla buyers. Should have listened to Michael Jordan's idea when asked why he was apolitical when he said "because Republicans also buy my sneakers."
He certainly alienated my wife.
I have long said that our next car would be an EV. (Our current car is an EV for short trips, a 2015 Volt.) She informed me yesterday in no uncertain terms that it would not be a Tesla.
Fortunately, Kia/Hyundai is making better EVs anyhow, and the Tesla charging network is open to any EV with the proper connector.
Enphase is the American-based company that makes the things (inverters, they're called) that turn the power produced by solar panels into the kind of power American homes use (DC into AC, that is). They also make the app most solar panel users use to talk to the panels and see what they are up to. Cool company.
I have Enphase for our solar panel. Glad I put them in last year.