January 8, 2025 • 11 mins
Chris critiques the push for electric vehicles (EVs) and stringent green policies, arguing they have decimated the auto industry, especially in the U.S. and Europe. Highlighting costly mandates, subsidies, and reliance on government incentives, he notes that EVs have failed to deliver promised environmental benefits while global emissions continue to rise. The result? Financial strain on automakers like Ford and Volkswagen, and the risk of future bailouts. www.watchdogonwallstreet.com
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
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 that we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
How to destroy the auto industry, destroying an entire industry.
And this is a chronicle piece, it really is. This
is going to take me back in time. I'm gonna
give a little kudos today to Holman Jenkins of Wall
Street Jury want to talk about his column today.
Speaker 3 (00:37):
I'm going to go back. I'm going to go back
to the.
Speaker 2 (00:39):
Latter stages of the Bush administration w W W at
the later part of his second term, on his way
out the door, We're getting slapped around in Iraq, all
sorts of problems, financial issues, housing crisis coming into play,
(01:01):
and Nancy Pelosi and it's just real people. I'm sorry Republicans,
but it wasn't was Nancy Pelosi owned George W.
Speaker 3 (01:12):
Bush.
Speaker 2 (01:13):
Okay, I did this the other day. Bush was Pelosi's
bo at the time. I'll never forget when Pelosi got
the gavel and George W. Bush gave this speech kissing
her ass. Anyway, anyway, not neither here nor there. George W.
(01:34):
Bush decided that he was going to start bailing out
auto companies started bailing out auto companies towards the end
of his term, all sorts of problems. I remember at
the time again, I was a regular on CNN back
in the day. This is before they went full out
crazy left wing. Yeah. I was talking about how admitted
(01:59):
the CEO and how they flew private jet to Washington,
d C.
Speaker 3 (02:06):
From Detroit and so bad looking.
Speaker 2 (02:08):
Oh my god, this is terrible, and members of Congress
and media up in arms over what was going on.
And at the time there I am going on CNN
my YouTube channel you go to go way back in
the day, so we back then.
Speaker 3 (02:23):
I'm like, wait a second, I said.
Speaker 2 (02:26):
We have we have a government that is forcing car
companies to make cars that they're losing money on at
the cafe standard. That's when al Gore really was starting
to kicking in the gear and they kept raising the
cafe standards and the cars became less and less profitable,
(02:48):
And that was part of the problem. Was the only one,
but it was one of many. It got worse, It
got worse instead of better. These people in Washington, DC
decided that hey, we're going to put ridiculous standards on
(03:09):
these companies, and we're going to force Americans to buy
electric vehicles, electric vehicles, and away we go again.
Speaker 3 (03:20):
I wrote a piece. It was entitled the Chevy Illogic.
Speaker 2 (03:25):
It had to do with the the bolt. The bolt,
and you know when they originally put the men the
Chevy bolt out, how expensive that car was, and I
forget there was a car that basically was the same
exact car at same maybe at thirty forty thousand dollars cheaper.
(03:45):
And I was saying, well, why would you buy this car?
How you know how much money it gas? You could
buy at three dollars a gallon at thirty forty thousand dollars.
I mean, it didn't make any sense. It was it
was illogical to buy the car. Remember when Obama got
in the car and he got in and he buckled
himself in and he drove it ten feet.
Speaker 3 (04:07):
Yeah, I remember that.
Speaker 2 (04:09):
But again, it was at that point in time where
many I want to call them smart, Yeah, they're smart,
lots of smart people, but in my opinion, criminally smart
or you know, ethically challenged intelligent.
Speaker 3 (04:30):
I don't know how to exactly phrase it.
Speaker 2 (04:33):
They're very intelligent in the uh the criminal villainous sense
of the word, the bond villain sense of the words.
Sorts an opportunity here, let's let's start up green companies
and battery companies. There was also all this stuff as well,
solar windmills, all sorts of stuff, all there looking to
(04:54):
suck on.
Speaker 3 (04:55):
The teo of the government. Yes, give me money, give.
Speaker 2 (04:59):
Me subsidies, protect my business, my industry, whatever it may be, well,
the auto industry. Homan Jenkins. Again, this is kind of
an echo of what we've been saying for some time,
subsidizing green energy consumption. All that you're doing is subsidizing
(05:24):
more energy consumption, including fossil fuels.
Speaker 3 (05:30):
Do you ever think about this?
Speaker 2 (05:32):
It was talking about o right strategy, strategy. Yeah, we
made fun of the lobbyist yesterday. We're gonna lose out
to China with the evs.
Speaker 3 (05:40):
Who cares? Who cares?
Speaker 2 (05:47):
You do realize that them China doesn't have any oil. No,
they have to import all of their oil. They have
to import tons of energy into their country.
Speaker 3 (06:04):
So it is strategic for them.
Speaker 2 (06:09):
To have electric vehicles. It reduces their alliance on foreign oil.
So again, there was a military conflict with the United States,
and they get blockaded, they're going to be in trouble,
(06:29):
They're going to have issues. And again, if you're a
student of history, this was some of the the issues
that led to the problems we had with Japan pre
World War Two.
Speaker 3 (06:43):
Anyway, electric cars are cool. They are they're they're cool
that they're.
Speaker 2 (06:55):
In it's it's it's a consumer item.
Speaker 3 (07:02):
Look at that.
Speaker 2 (07:04):
It's pretty neat and guess what. Yeah, but it shows
some promise. However, like any other consumer item that shows promise,
it should probably be left up to the consumer whether
(07:26):
or not they are going to buy it. What we
have done, what Europe has done.
Speaker 3 (07:33):
Is basically.
Speaker 2 (07:37):
Destroy We destroyed our own auto industry.
Speaker 3 (07:46):
Take away Germany.
Speaker 2 (07:48):
We've mentioned this for some time, for some time again,
remember the German auto Volkswagen, Mercedes, BMW, Porsche, Audi, the brands,
they're barely treading water.
Speaker 3 (08:08):
Now.
Speaker 2 (08:09):
We talked about this several weeks ago. Volkswagen, for the
first time in its history, is going to be closing plants.
They did it to themselves. Their entire export economy is
falling apart, falling apart, and they did it to themselves.
(08:37):
The CEO of Ford. This is from Holman's Peace Today,
Jim Farley sees his company's survival in the United States
threatened by Chinese evs. Given the tens of thousands of
dollars Ford already loses on each of its government mandated
electric vehicles. The author of the German auto mess Angela Merkel,
(09:02):
is now reviled as an unprincipled band wagon grabber, aren't
most politicians?
Speaker 3 (09:07):
Quite frankly, again, the same thing is.
Speaker 2 (09:11):
Going to hold true for Obama and Biden down the road.
And again, Jenkins finally caught on to the point that
we have been making here on this program for some time.
Speaker 3 (09:27):
You can't have it both ways.
Speaker 2 (09:28):
If you're telling people that they have to buy EV's
to save the planet because Greta Thutenberg told us so
and al Gore said so.
Speaker 3 (09:43):
Why in the world would you be.
Speaker 2 (09:45):
Preventing Americans from saving the planet by buying cheap Chinese evs.
Speaker 3 (09:55):
Let mean, think about this for a second. Think about this.
Speaker 2 (10:00):
Now we're being told, Now we're being told we have
to buy you know, can't buy in the Chinese evs
because we got to protect the American auto industry.
Speaker 3 (10:09):
What it's a great one here by Jenkins.
Speaker 2 (10:14):
Today, US economy that spent two trillion dollars plus on
Afghanistan and then less left billions of dollars in military
equipment behind to do what to replace the Taliban with
the Taliban?
Speaker 3 (10:29):
That's coming for me?
Speaker 2 (10:31):
Yeah, well, you know, I guess we're going to have
to bail out the auto makers again. It's coming, but
I don't know if again Germany is going to be
able to do that. And you think about all of
the cheerleaders in the media, these so called journalists out there.
(10:51):
Oh yeah, evs are the solution. They're the solution to
all of our climate problems.
Speaker 3 (11:01):
Right right.
Speaker 2 (11:03):
If that was the case, how come global emissions continue
to go up? How is that the case? It doesn't
make any sense. Again, they've all they've lost all credibility
when it when it comes to again we talked about
(11:25):
the n O a A and them tinkering with the
numbers to continue to push this agenda. This is one
again from the Gecko. Has been one of the biggest scams,
financial crimes in the history. It's the biggest financial crime
in the history of the world history bar not even close.
(11:48):
Has been this big, fat, stupid climate grift watchdog on
Wall street dot Com
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact that we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
How to destroy the auto industry, destroying an entire industry.
And this is a chronicle piece, it really is. This
is going to take me back in time. I'm gonna
give a little kudos today to Holman Jenkins of Wall
Street Jury want to talk about his column today.
Speaker 3 (00:37):
I'm going to go back. I'm going to go back
to the.
Speaker 2 (00:39):
Latter stages of the Bush administration w W W at
the later part of his second term, on his way
out the door, We're getting slapped around in Iraq, all
sorts of problems, financial issues, housing crisis coming into play,
(01:01):
and Nancy Pelosi and it's just real people. I'm sorry Republicans,
but it wasn't was Nancy Pelosi owned George W.
Speaker 3 (01:12):
Bush.
Speaker 2 (01:13):
Okay, I did this the other day. Bush was Pelosi's
bo at the time. I'll never forget when Pelosi got
the gavel and George W. Bush gave this speech kissing
her ass. Anyway, anyway, not neither here nor there. George W.
(01:34):
Bush decided that he was going to start bailing out
auto companies started bailing out auto companies towards the end
of his term, all sorts of problems. I remember at
the time again, I was a regular on CNN back
in the day. This is before they went full out
crazy left wing. Yeah. I was talking about how admitted
(01:59):
the CEO and how they flew private jet to Washington,
d C.
Speaker 3 (02:06):
From Detroit and so bad looking.
Speaker 2 (02:08):
Oh my god, this is terrible, and members of Congress
and media up in arms over what was going on.
And at the time there I am going on CNN
my YouTube channel you go to go way back in
the day, so we back then.
Speaker 3 (02:23):
I'm like, wait a second, I said.
Speaker 2 (02:26):
We have we have a government that is forcing car
companies to make cars that they're losing money on at
the cafe standard. That's when al Gore really was starting
to kicking in the gear and they kept raising the
cafe standards and the cars became less and less profitable,
(02:48):
And that was part of the problem. Was the only one,
but it was one of many. It got worse, It
got worse instead of better. These people in Washington, DC
decided that hey, we're going to put ridiculous standards on
(03:09):
these companies, and we're going to force Americans to buy
electric vehicles, electric vehicles, and away we go again.
Speaker 3 (03:20):
I wrote a piece. It was entitled the Chevy Illogic.
Speaker 2 (03:25):
It had to do with the the bolt. The bolt,
and you know when they originally put the men the
Chevy bolt out, how expensive that car was, and I
forget there was a car that basically was the same
exact car at same maybe at thirty forty thousand dollars cheaper.
(03:45):
And I was saying, well, why would you buy this car?
How you know how much money it gas? You could
buy at three dollars a gallon at thirty forty thousand dollars.
I mean, it didn't make any sense. It was it
was illogical to buy the car. Remember when Obama got
in the car and he got in and he buckled
himself in and he drove it ten feet.
Speaker 3 (04:07):
Yeah, I remember that.
Speaker 2 (04:09):
But again, it was at that point in time where
many I want to call them smart, Yeah, they're smart,
lots of smart people, but in my opinion, criminally smart
or you know, ethically challenged intelligent.
Speaker 3 (04:30):
I don't know how to exactly phrase it.
Speaker 2 (04:33):
They're very intelligent in the uh the criminal villainous sense
of the word, the bond villain sense of the words.
Sorts an opportunity here, let's let's start up green companies
and battery companies. There was also all this stuff as well,
solar windmills, all sorts of stuff, all there looking to
(04:54):
suck on.
Speaker 3 (04:55):
The teo of the government. Yes, give me money, give.
Speaker 2 (04:59):
Me subsidies, protect my business, my industry, whatever it may be, well,
the auto industry. Homan Jenkins. Again, this is kind of
an echo of what we've been saying for some time,
subsidizing green energy consumption. All that you're doing is subsidizing
(05:24):
more energy consumption, including fossil fuels.
Speaker 3 (05:30):
Do you ever think about this?
Speaker 2 (05:32):
It was talking about o right strategy, strategy. Yeah, we
made fun of the lobbyist yesterday. We're gonna lose out
to China with the evs.
Speaker 3 (05:40):
Who cares? Who cares?
Speaker 2 (05:47):
You do realize that them China doesn't have any oil. No,
they have to import all of their oil. They have
to import tons of energy into their country.
Speaker 3 (06:04):
So it is strategic for them.
Speaker 2 (06:09):
To have electric vehicles. It reduces their alliance on foreign oil.
So again, there was a military conflict with the United States,
and they get blockaded, they're going to be in trouble,
(06:29):
They're going to have issues. And again, if you're a
student of history, this was some of the the issues
that led to the problems we had with Japan pre
World War Two.
Speaker 3 (06:43):
Anyway, electric cars are cool. They are they're they're cool
that they're.
Speaker 2 (06:55):
In it's it's it's a consumer item.
Speaker 3 (07:02):
Look at that.
Speaker 2 (07:04):
It's pretty neat and guess what. Yeah, but it shows
some promise. However, like any other consumer item that shows promise,
it should probably be left up to the consumer whether
(07:26):
or not they are going to buy it. What we
have done, what Europe has done.
Speaker 3 (07:33):
Is basically.
Speaker 2 (07:37):
Destroy We destroyed our own auto industry.
Speaker 3 (07:46):
Take away Germany.
Speaker 2 (07:48):
We've mentioned this for some time, for some time again,
remember the German auto Volkswagen, Mercedes, BMW, Porsche, Audi, the brands,
they're barely treading water.
Speaker 3 (08:08):
Now.
Speaker 2 (08:09):
We talked about this several weeks ago. Volkswagen, for the
first time in its history, is going to be closing plants.
They did it to themselves. Their entire export economy is
falling apart, falling apart, and they did it to themselves.
(08:37):
The CEO of Ford. This is from Holman's Peace Today,
Jim Farley sees his company's survival in the United States
threatened by Chinese evs. Given the tens of thousands of
dollars Ford already loses on each of its government mandated
electric vehicles. The author of the German auto mess Angela Merkel,
(09:02):
is now reviled as an unprincipled band wagon grabber, aren't
most politicians?
Speaker 3 (09:07):
Quite frankly, again, the same thing is.
Speaker 2 (09:11):
Going to hold true for Obama and Biden down the road.
And again, Jenkins finally caught on to the point that
we have been making here on this program for some time.
Speaker 3 (09:27):
You can't have it both ways.
Speaker 2 (09:28):
If you're telling people that they have to buy EV's
to save the planet because Greta Thutenberg told us so
and al Gore said so.
Speaker 3 (09:43):
Why in the world would you be.
Speaker 2 (09:45):
Preventing Americans from saving the planet by buying cheap Chinese evs.
Speaker 3 (09:55):
Let mean, think about this for a second. Think about this.
Speaker 2 (10:00):
Now we're being told, Now we're being told we have
to buy you know, can't buy in the Chinese evs
because we got to protect the American auto industry.
Speaker 3 (10:09):
What it's a great one here by Jenkins.
Speaker 2 (10:14):
Today, US economy that spent two trillion dollars plus on
Afghanistan and then less left billions of dollars in military
equipment behind to do what to replace the Taliban with
the Taliban?
Speaker 3 (10:29):
That's coming for me?
Speaker 2 (10:31):
Yeah, well, you know, I guess we're going to have
to bail out the auto makers again. It's coming, but
I don't know if again Germany is going to be
able to do that. And you think about all of
the cheerleaders in the media, these so called journalists out there.
(10:51):
Oh yeah, evs are the solution. They're the solution to
all of our climate problems.
Speaker 3 (11:01):
Right right.
Speaker 2 (11:03):
If that was the case, how come global emissions continue
to go up? How is that the case? It doesn't
make any sense. Again, they've all they've lost all credibility
when it when it comes to again we talked about
(11:25):
the n O a A and them tinkering with the
numbers to continue to push this agenda. This is one
again from the Gecko. Has been one of the biggest scams,
financial crimes in the history. It's the biggest financial crime
in the history of the world history bar not even close.
(11:48):
Has been this big, fat, stupid climate grift watchdog on
Wall street dot Com
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