DOGE Archives - Taking Stock

July 9, 2025September 12, 2025

Elon Musk launches ‘America Party’ amid ongoing feud with Trump

In a dramatic twist to the U.S. political landscape, Elon Musk has announced the formation of a new political party, the America Party, following a bitter fallout with President Donald Trump over his controversial tax and spending legislation – the ‘Big Beautiful Bill‘.

Musk, once a key ally of Trump and head of the Department of Government Efficiency (DOGE), broke ranks after the passage of the so-called ‘Big Beautiful Bill‘, which Musk labelled a “disgusting abomination” that would balloon the national debt by trillions.

On U.S. Independence Day, Musk polled his followers on X, asking whether a new party should be formed. With a 2-to-1 majority voting ‘yes’, Musk declared, ‘Today, the America Party is formed to give you back your freedom’.

The party aims to challenge the entrenched two-party system by targeting a handful of swing Senate and House seats, potentially becoming a decisive force in future legislation.

Musk has pledged to support primary challengers against Republicans who backed the bill, accusing them of betraying fiscal responsibility.

Trump, clearly irked, dismissed Musk’s move as ‘ridiculous’, reportedly stating, ‘It’s always been a two-party system… third parties have never worked’.

He added on Truth Social, ‘Elon Musk has gone completely off the rails… becoming a train wreck over the past five weeks’.

The feud has escalated rapidly, with Trump threatening to revoke federal subsidies for Musk’s companies and even suggesting deportation, despite Musk’s U.S. citizenship.

While Musk’s America Party faces steep legal and logistical hurdles, his immense wealth and online influence could make it a disruptive force.

Whether it gains traction or fizzles out remains to be seen but it’s clear the ‘love’ between Musk and Trump is officially over.

July 8, 2025September 12, 2025

U.S. debt surges close to $37 trillion after ‘Big Beautiful Bill’ -Elon Musk sounds alarm

Following the passage of President Donald Trump’s sweeping tax and spending legislation, dubbed the One Big Beautiful Bill, the U.S. national debt has officially soared to nearly $37 trillion, with projections suggesting it could hit $40 trillion by year’s end.

The bill, which extends 2017 tax cuts and introduces expansive spending on defence, border security, and domestic manufacturing, has sparked fierce debate across Washington and Wall Street.

Critics argue the legislation lacks meaningful offsets, with no new taxes or spending cuts to balance its provisions.

Interest payments alone reached $1.1 trillion in 2024, surpassing the defence budget. The Congressional Budget Office estimates the bill could add $3.3 trillion to the deficit over the next decade.

Among the most vocal opponents is tech billionaire Elon Musk, who previously served as head of the Department of Government Efficiency (DOGE).

Musk has labelled the bill a ‘disgusting abominatio’ and warned it undermines fiscal responsibility.

He has reportedly pledged to fund primary challengers against Republicans who supported the measure, accusing them of betraying their promises to reduce spending.

Musk’s concerns go beyond economics. He argues the bill reflects a broken political system dominated by self-interest, calling for the creation of a new political movement, the America Party, to restore accountability.

While the White House insists the bill will spur economic growth and eventually reduce the debt-to-GDP ratio, sceptics remain unconvinced.

With the debt ceiling raised by a record $5 trillion, the long-term implications for America’s financial stability are now front and centre.

As the dust settles, the clash between Trump’s fiscal vision and Musk’s warnings sets the stage for a turbulent political and economic period ahead.

April 23, 2025September 12, 2025

Tesla and Musk struggle against Trump’s Tariff Tidalwave

Tesla has been making headlines with a series of major developments, from financial setbacks to strategic shifts by CEO Elon Musk.

The electric vehicle giant recently reported a 20% drop in automotive revenue, a significant decline that has raised concerns among investors.

Meanwhile, Musk has announced that he will be spending much less time on the Department of Government Efficiency (DOGE), a move that could signal a renewed focus on Tesla.

Additionally, Tesla’s ambitious Optimus humanoid robot project has hit a roadblock due to China’s restrictions on rare earth materials, further complicating the company’s future plans.

Tesla’s Revenue Decline

Tesla’s first-quarter earnings report revealed a 20% drop in automotive revenue, with total revenue sliding 9% year-on-year.

The company attributed the decline to factory retooling for a refreshed Model Y, lower average selling prices, and increased sales incentives.

Net income plummeted 71%, reflecting the broader challenges Tesla faces in a competitive EV market.

The company has refrained from promising growth this year, stating that it will revisit its 2025 guidance in its Q2 update.

Musk’s Shift Away from DOGE

Elon Musk’s involvement in the Department of Government Efficiency (DOGE) has been a controversial topic, with critics arguing that his political commitments have distracted him from Tesla’s operations.

However, Musk has now confirmed that his time allocation to DOGE will drop significantly, allowing him to focus more on Tesla.

He stated that he will likely spend only one or two days per week on government matters, a shift that could reassure investors concerned about his divided attention.

Reports of his popularity in recent U.S. polls suggest he is out of favour with the American people and is now low in people’s opinion around the world because of his contentious DOGE role.

Optimus Robots and China’s Rare Earth Restrictions

Tesla’s Optimus humanoid robots, which Musk has touted as a revolutionary step toward automation, have encountered a major obstacle due to China’s export restrictions on rare earth materials.

The restrictions, imposed as part of an escalating trade war, have disrupted Tesla’s supply chain, particularly affecting the rare earth magnets used in Optimus actuators.

Musk has expressed hope that Tesla will secure an export licence, but the uncertainty surrounding the restrictions could delay production.

Looking Ahead

Tesla is navigating a challenging landscape, balancing financial setbacks, Musk’s shifting priorities, and geopolitical hurdles.

While the company remains a leader in EV innovation, its ability to adapt to market pressures and geopolitical challenges will be crucial in determining its future success.

Investors and industry watchers will be closely monitoring Tesla’s next moves as it works to regain momentum.

March 24, 2025September 12, 2025

Fallout from Trump’s self-imposed tariffs and DOGE cuts is visibly damaging the U.S.

The economic impact of tariffs and budget cuts by the Department of Government Efficiency (DOGE) is becoming increasingly evident

Major corporations like Nike and Accenture, for example have recently reported significant challenges stemming from these policies. Nike has warned of a sharp decline in sales for the current quarter, attributing this to tariffs and weakened consumer sentiment.

Similarly, Accenture has experienced a reduction in revenue due to cuts in U.S. government contracts, highlighting the ripple effects of reduced federal spending. It is a good guide to U.S. consumer sentiment.

The tariffs, part of a broader economic strategy, aim to protect domestic industries but have led to higher production costs and strained international trade relations.

The European Union has postponed its own tariffs on U.S. goods, seeking to negotiate a more favourable agreement and mitigate potential economic fallout.

These developments underscore the delicate balance between protecting domestic interests and maintaining a respectable global economic position.

Some argue that the U.S. tariffs and budget cuts may ultimately harm both businesses and consumers, as higher costs are passed down the supply chain.

As the 2nd April 2025 implementation date for new tariffs approaches, businesses and policymakers alike face mounting pressure to address these challenges and find solutions that support economic growth while minimizing adverse effects.

The coming months will be crucial in determining the long-term impact of these policies.

March 11, 2025September 12, 2025

U.S. markets tumble as Trump and his administration dismiss stock slump and economic concern

The Elon Musk-led Department of Government Efficiency claims to be streamlining the federal government’s spending

But it has so far sown confusion, with the Trump administration attempting to rehire employees it had previously fired.

DOGE presents a distorted reflection of the current state of the U.S. economy. U.S. President Trump has implemented a series of policies to try to stimulate effect, frequently modifying them mid-course, resulting in collateral damage within the country’s own borders.

U.S. markets have been on a downward trend and were significantly impacted on. Tesla shares have lost some 50% since Trump’s election. Consumers are also boycotting Tesla vehicles.

Tariffs, according to Trump, are meant to protect U.S. businesses and punish trade partners. But so far, it seems that the world’s biggest economy is the one suffering.

Dismal day in the markets

U.S. stocks experienced a rout Monday 10th March 2025 as fears of a recession gripped investors. The S&P 500 dropped 2.7%, the Dow Jones Industrial Average lost 2.08% and the Nasdaq Composite sank 4% in its worst session since September 2022.

The White House downplayed the market slump, saying it’s not as ‘meaningful’ as business activity (what does that mean exactly)?

Asia markets also retreated Tuesday 11th March 2025. Japan’s Nikkei 225 fell around 1% amid a weaker-than-expected showing for its fourth-quarter gross domestic product (GDP).

November 22, 2024September 12, 2025

Securities and Exchange Commission Chair Gary Gensler’s resignation is good news for crypto

Bitcoin reaches a new record high, nearing the $100,000 mark as the cryptocurrency rally marches on.

Other altcoins are rallying too, basking in the aftermath of the SEC resignation news.

Gary Gensler, Chair of the Securities and Exchange Commission, will step down on 20th January 2025 (Trumps inauguration day), an announcement made by the SEC on Thursday 21st November 2024, which clears the path for President-elect Donald Trump to appoint a more crypto friendly successor.

During Gensler’s tenure, the SEC engaged in numerous high-profile conflicts with the cryptocurrency industry, including a lawsuit against Grayscale over Bitcoin ETFs – a case Grayscale won, leading to a significant influx of capital into these funds since their inception in January.

The SEC has also pursued legal action against several major digital asset firms concerning their crypto dealings, such as Coinbase, with varying outcomes.

Additionally, the SEC has been in conflict with Tesla CEO Elon Musk, particularly regarding his acquisition of the social media company Twitter, now known as X, for $44 billion in 2022. The commission is currently seeking sanctions against Musk for failing to appear for court-mandated testimony related to this matter.

Under Gensler’s leadership, the SEC has scrutinised Musk’s adherence to a previous settlement that mandated a securities lawyer review certain Tesla-related social media posts before they were published.

Musk, a vocal critic of the SEC who supported Trump’s election campaign with his time and a donation of at least $130 million and campaigned alongside him, is poised to join the incoming administration as a co-leader of the newly proposed Department of Government Efficiency (DOGE).

With Gensler’s impending departure and the upcoming expiration of the terms for two other commissioners, Trump will have the chance to significantly influence the future composition of the SEC.

A green light for crypto investors, but a worry (maybe) for the retail trader long-term?

Bitcoin one-day chart as of 22nd November 2024 (09:49am GMT) – Snapshot

Bitcoin one-year chart as of 22nd November 2024 (09:51am GMT) – Snapshot

November 14, 2024September 12, 2025

Trump announces the new ‘Department of Government Efficiency’- DOGE – Dogecoin climbs over 150% on the news

The purchase of Meme coins is often viewed as indicators of retail interest and the willingness to take risks in the cryptocurrency market. Increased activity in meme coins typically signals that retail investors are engaging and are inclined to speculate more aggressively on the risk spectrum.

Trump initially proposed the concept of an efficiency commission in September 2024. Since that time, Musk -who has previously referred to himself as the ‘Dogefather’ – is known for making public statements about the meme coin that affect its value, has posted on his social media platform X, referring to the commission as the ‘Department of Government Efficiency’ or ‘D.O.G.E.‘

Dogecoin’s relevance surged in 2021 due to Elon Musk’s endorsement and the continuous hype on social media, which became a significant catalyst for the cryptocurrency. In May of that year, Musk’s tweets propelled Dogecoin to its peak value around 67 cents, according to market analysis. However, his reference to Dogecoin as ‘a hustle’, caused its value to plummet.

Recently, Dogecoin’s value increased following the post-election announcement by President-elect Donald Trump about the establishment of the ‘Department of Government Efficiency‘, which he acronymized as ‘DOGE’ in his statement.

Elon Musk, CEO of Tesla, and Vivek Ramaswamy, the former Republican presidential candidate and co-founder of Strive Asset Management, have been appointed to lead this department.

According to Trump’s statement, their role will be instrumental in his administration’s efforts to dismantle government bureaucracy, reduce unnecessary regulations, eliminate wasteful spending, and reorganise federal agencies.

It’s time for D.O.G.E.