Socotra’s Top Stories Today

In the run-up to America’s presidential election, we’ve continued the Socotra tradition of producing a daily update to help you keep on top of the political stories that matter. Management insists on production of a Daily, for reasons they attribute to something they call “continuity of operations.” We shrugged, having already been directed not to think too hard about the myriad of inexplicable things going on.

Like Energy. In one of 55 brand-new un-legislated regulations, our EPA just announced we would have to shut down all coal-fired power plants in America by 2040. That is the same time we are all supposed to be driving electric cars are turning our commerce over to Artificial Intelligence. This is all supposed to work from power not generated at night (solar) or when the wind doesn’t blow. We take some comfort in the idea that we will be long deceased when our grandchildren look at one another and say “Why didn’t Nvidia take care of all this?”

A cautionary note on the “sustainable plans” we hear so much about? They aren’t, at least as currently envisioned. They need some additional thought. Jeff Bezos over at Amazon reportedly consumes as much power as the nation of Greece each year, and that is a new requirement emerging as we demolish our ability to generate and share juice. Maybe we can get it from China.

That is just one of several notes of Caution this morning, After we were ignored yesterday by Marketing due to supply problems in Bangalore, we were stumped on production issues to bore you with today. We eventually got the Legal Section to leave us alone but missed an opportunity to make a scad of cash in the mad Wall Street market. It is the first time the market has smashed the “40,000 ceiling.” We are uncertain if that is an adjusted inflation number for old dollars or an inside joke.
We just wish we knew what the hell a company called “Nvidia” might be selling, since the simple act of selling itself made a tidy profit. Here is the deal to the degree we understand it:

Nvidia, a semiconductor giant, announced record year-on-year revenue growth of 262%
in the first quarter of 2024, beating expectations. That means, according to our finance guys,
a single buck thrown at the maelstrom would get you more than $250 to take to Happy Hour.
The stratospheric rise was driven by Nvidia’s share of the data center business centered in Northern Virginia where we live amid the vast  blocks of digital buildings, They grew by 427% in the same period. Jensen Huang is Nvidia’s CEO and doing pretty well. He expects “a lot of” revenue this year with a new line of chips.

We assume those are the kind that go in computers and operate on electricity. Not the ones
in snack cans.

Meanwhile, in Asia, are we closer to war this morning? Taiwan dispatched troops to its coastline after China began two days of military drills in five areas around the island. Justification? China says the exercises were “punishment” for “separatist acts.” Taiwan just swore in new president Lai Ching-te on Monday. He has called for independence in the past, but did not campaign for it this time as a constitutional change or referendum issue. Status quo is likely his preference. Beijing may seek to end it.
Elections are big in many places in the Spring. Like the continuing US circus, Britain, India and Mexico are having their own Election Carnivals. In the UK, Prime Minister Rishi Sunak, set the poll for the unlikely date of July 4th. The opposition Labour Party has unveiled a one-word slogan: “Change.” Some sources give Sunak’s semi-conservative Tory Party less than a 1% chance of retaining their majority in Parliament. India’s PM Moji is expected to return to office with a bigger majority. In Mexico, they are just rioting.

There is stuff happening here, too.
Nikki Haley said she would vote for Donald Trump in November. The former Presidential candidate (and South Carolina Governor) had been dubbed a “bird brain” by Trump. She is part of a surge for Trump from center-right voters. Dem support is increasing for “undecided” or electoral non-participation rather than commit to the President.

Perhaps all that assorted activity pales in comparison with our tail-end story, which is about the struggle over the cultural icon that is Graceland, the Tennessee mansion of legendary Rocker Elvis Presley. In our litigious society, the sale was temporarily halted by Shelby County Chancellor JoeDae Jenkins after a finance company attempted to force a foreclosure sale in settlement of a purported $3.8 million dollar debt.

The King’s granddaughter responded with another act of LawFare, alleging fraud against the finance guys. Trial is expected. We are veterans of the estate tour, where a half million people per year visit. We recommend a visit if you can, since the place remains open pending a court decision.

It is quite a day already. We would prefer to be watching it on one of the TVs on the wall at Graceland, you know?

Copyright 2024 Vic Socotra
www.vicsocotra.com