EV Stupidity in the WSJ

Chris critiques a Wall Street Journal article advocating for electric vehicle (EV) subsidies, labeling it as unsubstantiated lobbying rhetoric. He argues that government subsidies distort free markets and hinder true competition, calling for a focus on supply, demand, and innovation without government intervention. Highlighting the financial struggles of EV manufacturers (except Tesla), Markowski questions the sustainability of propping up an industry with public funds. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Ev stupidity in the Wall Street Journal.

Speaker 3 (00:21):
Now earlier today we're talking about lowering the bar when
it comes to awards. You know, I had to make
fun of the Wall Street Journal called the Wall Street Journal,
and you know, the journalism.

Speaker 2 (00:33):
Has it's just been weak. But I you know, for
the most part, the uh, the opinion page and the
columnists tend to be pretty good, tend to be pretty good.
Even the ones that the regulars that aren't to bright,
the Alan Blinders of the world, Princeton, Alan munder Econo.
You know, at least they can make somewhat of a

(00:59):
an argument, I mean to pick apart. But today this
was just again they almost like they had had to
have some sort of like paid paid article on this.
They had a guy today, he is a lobbyist, lobbyists
for the electric vehicle industry, coming on there doing a

(01:24):
piece the case for subsidizing electric vehicles, and you know,
he does this piece, does this piece.

Speaker 4 (01:33):
China recently came the world's leading car exporter thanks to
heavy investments and evs. The US is also making great
strides in this growing market, but some American politicians want
the wave the white flag. Although a combination of private
sector innovation and support from Congress has driven the EV
sector's growth, in the US, lawmakers are floating the possibility

(01:55):
of ending consumer manufacturing tax incentives for manufacturers and parts suppliers.
These incentives level the playing fields. He goes on this
whole article that's written almost again. I read this and
it's like a kid. It's like writing, you know, in
elementary school.

Speaker 5 (02:13):
I think electic vehicles are good because because you plug
them in on the environment, and it's good for the environment,
and just nonsensical drivel from a kid.

Speaker 2 (02:30):
And this is what we got here in the Wall
Street Journal. There's there's a thing that should drive this
is this is what drives the free market. Supply and demand.
Supply and demand. Throw in a little creative destruction in there.

(02:56):
People building a better product. You don't need a damn
government sub We don't need any government subsidies to compete
with China.

Speaker 3 (03:08):
China is making these greater roads where maybe in China,
maybe in Europe to some degree, but Europe's problems have
more to do with the fact that they can't manufacture
anything any there because energy prices are so damn high.
Every single time the government gets involved in anything is
a disaster.

Speaker 2 (03:28):
Do you understand this, All of you people.

Speaker 3 (03:30):
Out there that believe in this public private partnership crap.

Speaker 2 (03:35):
Subsidizing businesses is ridiculous, It really is. You don't even
call it sports like daddy ball.

Speaker 6 (03:46):
Oh, we gotta support the government's gotta support these American industries.
So we compete. What do we a bunch of kiddi cats.
Either a stand up on your own.

Speaker 2 (03:59):
Or you fail.

Speaker 3 (04:02):
Okay, I'll do a little Gordon get Oh you either
get it right or you get eliminated.

Speaker 2 (04:09):
You go go go, go go to your go to
your local dealership and see see the types of incentives
that they're giving for electric vehicles. The markdowns story yesterday
Porsche twenty two thousand dollars markdowns on their electric vehicles

(04:30):
because they can't get rid of go to go to BMW,
Go go to BMW. Oh Ford was was like, oh
my god, look at this.

Speaker 3 (04:40):
The electric Mustang is out selling the regular combustion engine Mustang.

Speaker 2 (04:46):
They're basically giving those cars away. They are subsidizing the
hell out of them. I told the story, dear friend
of mine, I you know, went to get I wanted
a new Bronco, wanted a new Bronco. Instead, he ended

(05:07):
up leaving with an electric Mustang. Why because they literally
made him an offer that he could refuse, not the
type with a gun to his head. It was priced
so ridiculously though, it didn't make any sense whatsoever. He's like,
how can I say no to this? They're not making
money on the cars. Across the board, They're losing. Outside

(05:29):
of Tesla.

Speaker 6 (05:29):
Every single company is losing money when they're making these cars.

Speaker 2 (05:34):
And you want to continue to go down this path,
get out.

Speaker 3 (05:39):
Next time Wall Street Journal, you know you're gonna have
a lobbyist come on to push their usual bullshit, put
sponsored content underneath it.

Speaker 2 (05:47):
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