VW Skyrockets As Tesla Fizzles, US Banks Increasing Reserves

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by confoundedinterest17

The electric car wars have gotten under way. Tesla, the early favorite, is now looking weak compared to VW and their more affordable electric offering.

Although US auto sales went kerplunk in February (-12.70%).

Of course, some of the blame for declining auto sales is due to the Texas freeze-out and Covid lockdowns.

In other news, US banks increased their reserves at The Fed last year.

With Biden’s $1.9 trillion Covid-relief act going through, we have to wonder HOW the funds will be spent? Auto sales? Invest in stocks? Pabst Blue Ribbon?

See also  Central banks: “We Are Invincible!”…Markets: “Hold My Beer”



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