We just saw a 26% gain in less than three months. We have also seen price earnings multiples explode from 18X to 23X. The probability of making money going forward is approximately 33%, with a chance of loss at 64%, on a short-term basis. Over the vast expanse of time, everything eventually goes up.

The $5 trillion debt ceiling increase in the Budget bill is the main reason, which would take the National Debt from $37 trillion to $42 trillion. Pay for that European vacation now before it gets too expensive to go.

Brand destruction is running amok. In Sweden, they fell by 64.4% YOY, and 61.6% in Denmark. Competition from (BYD) has become killer. The war of words between the president and Elon Musk reignited today, with the latter telling Musk to go back to South Africa. He also ordered a review of all Tesla subsidies, which are immense and have kept the company in business. Sell (TSLA).

He also admitted he would have to cut rates by now before tariffs injected massive uncertainty into the Economy. I think he’s telling us no interest rate cuts this year.

The Institute for Supply Management (ISM) said on Tuesday that its manufacturing PMI nudged up to 49.0 last month from a six-month low of 48.5 in May. It was the fourth straight month that the PMI was below the 50 mark, which indicates contraction in the sector that accounts for 10.2% of the economy.