Elon Musk Made me a Millionaire… Is Joe Biden Next?
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“You have to go out on a limb sometimes because that’s where the nuts are.” — Will Rogers (“Maxims of Wall Street”, p. 52)
Yes, it’s true, Elon Musk’s electric car company made me a millionaire. Tesla stock has risen 1,200% in just five years, pushing my mutual fund (which has a huge position in Tesla) in my IRA worth to over $1,000,000.
Tesla (NASDAQ: TSLA) is by far the biggest seller of electric vehicles in the United States, selling a quarter of a million electric of them in the second quarter of 2022.
The car company has factories in the United States, China and Germany. It recently moved its headquarters out of California to Texas because of excessive regulations and taxes.
Musk is an entrepreneurial genius. Politically, he’s seen the writing on the wall. Recently, he ditched Joe Biden and the Democrats because their tax-spend-and-regulate policies are hurting the nation and has switched political parties. He now supports the Republicans and their pro-growth agenda.
Joe Biden’s Disaster Plan
There’s an old saying on Wall Street — “Money has no smell.” You can make money with Republicans or Democrats.
Recently, I released a video entitled, “Biden’s Disaster Plan.” It outlined three ways that you could make money off of the Biden administration’s policies. I recommended three stocks that are likely to soar because of Biden’s disastrous energy policy, the rise of inflation and supply-chain shortages.
In fact, all three stocks have advanced significantly since I released the video. Since early June, the energy stock is up 17%… the financial stock has advanced 23%… and the technology stock has soared 29%. I firmly believe they are all headed much higher.
Click here to watch the video.
Biden’s Disaster Plan II
Now, President Biden has created more uncertainty in the markets by pushing through Part II of the Biden Disaster Plan. Last week, he signed into law a boondoggle $790 billion tax-and-spend bill under the Orwellian name, “The Inflation Reduction Act.”
Today, Biden signed by executive order a plan to forgive up to $10,000 in student loans per person, costing the Treasury over $300 billion in the next 10 years.
How will that reduce inflation?
In fact, these new Biden policies will do nothing to reduce inflation, but it will waste billions on “alternative energy” and send the national debt to new highs.
Worse, it will unleash 87,000 new IRS agents to “harass our people and eat out their substance,” to quote the Declaration of Independence.
Fortunately, there’s always a silver lining to the dark clouds…
My Tesla stock and the three stocks mentioned above will continue to do well.
‘The Cleansing of America: How the Recession Will Save America’
Alas, other investments will struggle. A few days ago, I recorded a new video which I’ve dubbed “The Cleansing of America: How the Recession Will Save America.”
I noted that retailer Bed, Bath and Beyond underwent a bloodbath this past week, falling more than 50%. AMC Entertainment is going through the same collapse after announcing a possible bankruptcy.
After 10 years of “easy money” policy, we are now paying the price, with sharply higher price inflation and the “cleansing of the market” — a possible recession and a collapse of financial bubbles.
If you are in the wrong investments, you could be hurt badly.
In this video (to be released soon), I add a new recommendation — how an investment in the global infrastructure market is bound to make a lot of people rich. The United States needs to follow the rest of the world in improving its roads, bridges, electric grid, pipelines and other essential needs. Billions are being spent in this area.
My latest investment is already starting to move. Since I added it to my Forecasts & Strategies portfolio, we’re up 17% this year. The 3% dividend doesn’t hurt. Some Wall Street analysts consider it a momentum stock.
As they say on Wall Street, “There are many ways to climb a mountain.” (“Maxims of Wall Street”, p. 70. To buy a copy at a nice discount, go to www.skousenbooks.com).
Last but not Least…
FreedomFest has just released this new video of a popular session by estate planning specialist David Phillips. It’s called “New Strategies to Disinherit the IRS,” updating you on the changes in the new tax law, and how to maximize your estate.
Watch it here: https://www.youtube.com/watch?v=a0QGfEqLu-0.
Upcoming Conferences:
Hawaii Lectures, Sept. 14-16: I will be giving some lectures at BYU-Hawaii and Hawaii Pacific University. For more information, contact Gale Pooley at gale.pooley@byuh.edu and Ken Schoolland at ken.schoolland@gmail.com.
World Knowledge Forum, Sept. 20-22, Seoul, Korea: Considered the Davos of Asia, I am pleased to be a speaker for the first time. For more information, go to www.wkforum.org.
New Orleans Investment Conference, Oct. 12-15, Hilton Riverside Hotel: Join me along with Jim Rickards, Jon Najarian, Rick Rule, Jim Grant, Doug Casey, Brien Lundin, Robert Prechter, the Aden Sisters and Adrian Day. Be sure to mention you are a Skousen Investor Cafe subscriber. Sign up here.
Good investing, AEIOU,
Mark
You Nailed It!
Former Inmate at Sing Sing Correctional Facility Rings the Opening Bell at the New York Stock Exchange!
“The great thing in this world is not so much where we stand, as in what direction we are moving.” — Oliver Wendell Holmes Jr.
Sean Pica, executive director of Hudson Link for Higher Education in Prison, an organization that oversees the college degree-seeking programs at Sing Sing and five other New York correctional facilities, rang the opening bell at the NYSE this week!
See the ceremony here: https://www.youtube.com/watch?v=SsDuaEa2L38
Sean spent 16 years on the inside, before starting the foundation that would continue to deliver privately funded college education to thousands of incarcerated men and women for over 20 years. All those years ago, in his wildest dreams, he never thought he would ring the bell at the New York Stock Exchange!
Watching the ceremony brought tears to my eyes. I salute my wife, Jo Ann, for getting us involved at Sing Sing for 20 great years of teaching. She taught English literature and composition; I taught economics and business.
Imagine teaching the principles of free-market economics to men incarcerated in a maximum-security prison!
Over 90% of our students were people of color, and many of them were convicted of murders. Yet they were some of the finest students — and the finest men — we have met. The college education program helped them to return to society as good citizens. In fact, the recidivism rate of Sing Sing graduates is only 3%, compared to 67% nationwide.
Sean Pica and Hudson Link have created a successful model for criminal justice reform, higher education in prison and re-entry programs, and many state correctional facilities are following their lead.
Graduation ceremonies are always emotional events, with parents, as well as other relatives, arriving by car, train and bus to see their son accept his diploma from Mercy College — often the first in their families to graduate from college. Celebrities came to give the commencement address, including Harry Belafonte, Whoopi Goldberg, Charles Grodin, Steve Forbes, George Will and Tim Robbins (the central actor in “Shawshank Redemption,” a favorite film inside). Even Warren Buffett made an appearance because his sister Doris was a major donor until her death in 2020.
Our son Tim Skousen directed the 2011 HBO documentary “University of Sing Sing,” also known as “Zero Percent.” For many years, that was the recidivism rate of our graduates who were released from custody. Here is the trailer: https://www.youtube.com/watch?v=1JPK17x5kfM.
Jo Ann (in red) among Sing Sing inmates at TedX talk in 2020.
My wife, Jo Ann, is a featured teacher in the documentary. She was not only a popular teacher at Sing Sing, but she worked closely with the men as their performance coach in two TEDx events inside, where they talked about building bridges and the role of education in prisons.
Teaching at Sing Sing was a highlight of our lives.
