Description

Opening

• Happy b-day to wife and her mom! 
• Tiger Dating Vanessa. 
• Cialis. 2.5mg per day for longevity from Bryon 
• Trump, Kid Rock, Dana White and Bill Maher have dinner. 

Markets

Full Correction Territory (down 10%); quickly moving to “Bear” down 15%. 

• S&P 17%, Tech 25%+
• Apple in huge correction. PE still at 30
• Netflix at 43. 

Tariffs

• No income tax in the US income tax until 1913. 
• Tariff rates: The U.S. charged less than most big players—think 2-5% versus 5-15% from others.
• Trade Deficit 2024 was $918.4 billion.
• Total US spending deficit: $1.8 trillion in 2024 per FRED. Spend $6t and take in $4t. 
• Total US Debt. $36 trillion.
• Interest expense is $1t growing

Ray Dalio on the significance and problem of debt.

Antonio Gracias on SS and Medicaid Fraud. 

Netflix

• Adolescence

SpaceX

•  turns out it was harrowing story simply docking the Starliner. 

X & Xai

Elon announcement here

CNBC interview with Rich Greenfield. . 

WSJ Article here. 

Robotics

• New Figure Video released.
• Tesla now taking deliveries for Optimus. 
• Official post from Tesla that autonomous robotaxi starting in Austin in June

Tesla

• Tesla worst delivery numbers in years. 
  • Norway registered more cars in March that ever.
• Made in the USA

Key Elements of RICO Charges

Government inefficiency

1. Fix Regulation and be more efficientHere is video of Ezra Klein discussing with Jon Stewart why $44b of broadband connected zero homes in 4 years. 

Social Security:

• Antonio Gracias:!  SS fake #’s and spendings
• Who is screaming the loudest. The Fraudsters.  
• Video from Jason C. https://x.com/Jason/status/1906730493216780699 

Doge

Goal is to reduce spending by $1b or 15%.  

Entire Doge Interview with Brett Baier.  Survey at 1:10. $1b. $830m online survey.  

• 1700 different IT systems. 17 CIO’s. 
• Social Security Fraud.