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Showing posts sorted by date for query axon. Sort by relevance Show all posts

Saturday, August 30, 2025

"Civil War Comes to the West" (fortunately there's an ETF for that)

He does have some academic cred regarding this stuff.
 
From Military Strategy Magazine  /  Volume 9, Issue 1, Summer 2023

This is the first of two essays. It deals with the reasons why civil war is likely to dominate the military and strategic affairs of the West in the coming years, contrary to the typical expectations of the future war literature, and generally the strategic logic which shall underpin such wars. The next essay will address specifically the actions and strategies which existing military forces might pursue before and during these conflicts.

Europe is a garden. We have built a garden. Everything works. It is the best combination of political freedom, economic prosperity and social cohesion that the humankind has been able to build—the three things together … Most of the rest of the world is a jungle…[i]

So said EU Foreign Affairs chief Josep Borrell in Bruges in October 2022. Future dictionaries will use it as an example of the definition of hubris.

That is because the major threat to the security and prosperity of the West today emanates from its own dire social instability, structural and economic decline, cultural desiccation and, in my view, elite pusillanimity. Some academics have begun to sound the alarm, notably Barbara Walter’s How Civil Wars Start—and How to Stop Them, which is concerned primarily with the dwindling domestic stability of the United States.[ii] To judge from President Biden’s September 2022 speech in which he declared ‘MAGA Republicans represent an extremism that threatens the very foundations of our republic’ governments are beginning to take heed, albeit cautiously and awkwardly.[iii]

The field of strategic studies, however, is largely silent on the issue, which is strange because it ought to be something of concern. Why is it correct to perceive the increasing danger of violent internal conflict erupting in the West? What are the strategies and tactics likely to be employed in the civil wars to come in the West and by whom? These are the questions which I shall address in this essay.

Causes

The literature on civil wars is united on two points. Firstly, they are not a concern of states that are rich and, secondly, nations which possess governmental stability are largely free of the phenomenon. There are degrees of equivocation on how much regime type matters, though most agree that securely-perceived-to-be-legitimate democracies and strong autocracies are stable. In the former, people do not rebel because they trust the political system works justly overall. In the latter, they do not because authorities identify and punish dissenters before they have a chance.

Factionalisation is another main concern, but extremely heterogeneous societies are not more prone to civil war than very homogenous ones. This is put down to the high ‘coordination costs’ between communities that exist in the former, which mitigate against the formation of mass movements. The most unstable are moderately homogenous societies, particularly when there is a perceived change in the status of a titular majority, or significant minority, which possesses the wherewithal to revolt on its own. By contrast, in societies comprised of many small minorities ‘divide and conquer’ can be an effective mechanism of controlling a population.[iv]

In my view, there is no good reason to fault the main thrust of extant theory on civil war causation as described above. The question, rather, is whether the assumption of the conditions which have traditionally placed Western nations outside the frame of analysis of people concerned with large-scale and persistent eruptions of violent civil discord are still valid.

The evidence strongly suggests that they are not. Indeed, as far back as the end of the Cold War some perceived that the culture which ‘won’ that conflict was itself beginning to fragment and degenerate. In 1991, Arthur Schlesinger argued in The Disuniting of America that the ‘cult of ethnicity’ increasingly endangered the unity of that society.[v] This was prescient.

Consider the striking findings of the Edelman Trust Barometer over the last twenty years. ‘Distrust’, it concluded recently, ‘is now society’s default emotion.’[vi] The situation in America, as shown in related research is acutely bad. As of 2019, even before the contested Biden election and the Covid-epidemic, 68 per cent of Americans agreed it was urgently necessary to repair levels of ‘confidence’ in society in government, with half averring that a ‘cultural sickness’ is what fading trust represented.[vii]

In sociological terms, what this collapse of trust reflects is a plunge in the stock of ‘social capital’, which is both a kind of ‘superglue’, a factor of societal cohesion, as well as a ‘lubricant’ that allows otherwise disparate groups in society to get along.[viii] That it is in decline is disputed by no one, and neither is anyone seriously unclear on the unhappy consequences.

There is dispute over its causation, however. Chancellor Angela Merkel once pointed the finger directly at multiculturalism, declaring that in Germany it had ‘utterly failed’, an idea that was echoed six months later by then Prime Minister David Cameron in Britain. He elaborated that ‘It ghettoises people into minority and majority groups with no common identity.’[ix] Such statements by leaders, both noteworthy centrists, of large, ostensibly politically stable, Western states cannot easily be dismissed as populist demagoguery.[x]

Additionally, ‘political polarisation’ has been enhanced by social media and identity politics, on which more below. Digital connectivity tends to drive societies towards greater depth and frequency of feelings of isolation in more tightly drawn affinity groups. Each of these is guarded by so-called ‘filter bubbles’, carefully constructed membranes of ideological disbelief that are constantly reinforced by active and passive curation of media consumption.[xi]

What might be described as ‘intertribal conflict’ is by no means confined to the virtual spaces of the Internet; rather, it manifests also in physical fighting in a self-reinforcing feedback cycle. Many examples of this from recent headlines might be given. A good one though, is the city of Leicester in Britain, which over the last year has witnessed recurring violence between the local Hindu and Muslim populations, both sides animated by intercommunal tensions in distant south Asia. A Hindu mob marched through the Muslim part of town chanting ‘Death to Pakistan’.[xii]

What this reflects above all is the considerable irrelevance of Britishness as an aspect of the pre-political loyalty of significant fraction of two of the largest minorities in Britain. Who wants to fight whom and over what? The answer in this case to this good strategic question has very little to do with the nominal nationality of the people who have observably already begun to fight.

Finally, to this volatile social mix must be added the economic dimension, which can only be described as extremely worrisome. By common estimation, the West has already started another economic downturn, a long overdue recurrence of the 2008 financial crisis, combined with the fallout of the deindustrialisation of Western economies, a notable by-product of which is the progressive de-dollarisation of global trade that has been turbocharged by sanctions on Russia, which has also induced a ballistic rise in the costs of basic goods such as energy, food, and housing.[xiii]

In terms of economic financialization, debt issuance, and consumption, the West has reached the end of the line, which means that a gigantic gap in expectation of well-being is opening. If there is one other thing that the literature on revolution agrees upon it is that expectation gaps are dangerous.[xiv] Again, simply put, a time-honoured means of controlling the rise of incipient mobs is the provision by the ruling powers of ‘bread and circuses’, in other words basic consumption and cheap entertainment—the efficacy of both of which is rapidly attenuating in the present day.

To conclude this section, it can be said that a generation ago all Western countries could still be described as to a large degree cohesive nations, each with a greater or lesser sense of common identity and heritage. By contrast, all now are incohesive political entities, jigsaw puzzles of competing identity-based tribes, living in large part in virtually segregated ‘communities’ competing over diminishing societal resources increasingly obviously and violently. Moreover, their economies are mired in a structural malaise leading, inevitably in the view of several knowledgeable observers to systemic collapse.[xv]

Conduct
The intimacy of civil war, its political intensity, and its fundamentally social quality, plus the acute accessibility to attack on all sides of everyone’s weak points can make them particularly savage and miasmic. The Russian Civil War which followed the Bolshevik Revolution in 1917 is a particularly good example. It is a form of war in which people suffer raw cruelty and fanaticism not for what they have done but for what they are.[xvi]

Perhaps civil wars in the West can be contained to the level of loathsomeness of those of Central America of the 1970s and 1980s. In which case ‘normal’ life will remain possible for the fraction of the population that is rich enough to insulate itself from the larger milieu of political assassinations, death squads and intercommunal reprisals, plus thriving criminal predation which typify a society in the process of tearing itself apart.[xvii]

The trouble is that the urge to fight, indeed the wish to accelerate towards conflict, is not confined to just one group—as one might gather from the recent alarm over far-Right populism—but is of a rather more general character, with radicalism increasingly visible in all sorts of communities.[xviii] Consider, for instance, the following lines from a French leftist tract published in 2007:

It’s well known that the streets teem with incivilities. The technical infrastructure of the metropolis is vulnerable… Its flows amount to more than the transportation of people and commodities. Information and energy circulate via wire networks, fibres and channels, and these can be attacked. In our time of utter decadence, the only thing imposing about temples is the dismal truth that they are already ruins.[xix]

At this point in the history of conflict, it hardly seems necessary to explain the techniques of taking existing social divisions in society and tearing them into chasms because they have been widely studied.[xx] The defence establishments of the West are very familiar with such matters as they have presented themselves in the varied foreign theatres in which they have been embroiled as part of the so-called War on Terror.

Is it a complete wonder that those lessons and ideas should have found their way back home? The Citizen’s Guide to Fifth Generation Warfare co-written by MGEN Michael Flynn, former head of the Defence Intelligence Agency and President Trump’s initial National Security Advisor, is a well-designed handbook and explicit in its aim, which is to educate people in the West about revolt. In his own words, he wrote it because ‘I never dreamed the greatest battles to be waged would be right here in our homeland against subversive elements of our own government.’[xxi]

Over the last thirty years the West has preoccupied itself thanklessly in an expeditionary capacity in the invertebrate civil wars of others. It ought to have learned that it is impossible to maintain an integrated multi-valent society once neighbours start kidnapping each other’s children and murdering them with hand drills, blowing up each other’s cultural events, slaying each other’s teachers and religious leaders, and tearing down their icons. It is soberingly worth noting, moreover, that plenty of instances of all those things have occurred already in the West and all of them have occurred in France alone in the last five years.[xxii]

Scenarios, mostly focused on the United States, of what civil wars in the West would look like exist in the literature.[xxiii] They tend to share one thing in common particularly, which is the expectation as expressed by Peter Mansoor, professor of military history at Ohio State University, that they will,

…not be like the first [American] civil war, with armies manoeuvring on the battlefield [but] would very much be a free-for-all, neighbour-on-neighbour, based on beliefs and skin colour and religion. And it would be horrific.[xxiv]

Approximately 75 per cent of post-Cold War civil conflicts have been fought by ethnic factions.[xxv] Therefore, that civil war in the West will be likewise is unexceptional. The nature of the belief that Mansoor invokes as being important is, however, worth dwelling upon. I would suggest that the belief in question is the acceptance by all groups in society of the precepts of ‘identity politics’.

Identity politics may be defined as politics in which people having a particular racial, religious, ethnic, social, or cultural identity tend to promote their own specific interests or concerns without regard to the interests or concerns of any larger political group. It is overtly post-national. It is this above all that makes civil conflict in the West not merely likely but practically inevitable, in my view.

The peculiarity of contemporary Western multiculturalism, relative to examples of other heterogenous societies, is threefold. Firstly, it is in the ‘sweet spot’ with respect to theories of civil war causation, specifically the supposed problem of coordination costs is diminished in a situation where White majorities (trending rapidly toward large minority status in some cases) live alongside multiple smaller minorities.

Secondly, thus far what has been practiced is a sort of ‘asymmetric multiculturalism’ in which in-group preference, ethnic pride, and group solidarity—notably in voting—are acceptable for all groups except Whites for whom such things are considered to represent supremacist attitudes that are anathematic to social order.

Thirdly, because of the above what has emerged is a perception that the status quo is invidiously unbalanced, which provides an argument for revolt on the part of the White majority (or large minority) that is rooted in stirring language of justice. From a strategic communications perspective, a morally inflected narrative which has a clearly articulated grievance, a plausible and urgent remedy, and a receptive conscience community is powerful.[xxvi]....

....MUCH MORE 

Spring, 2025 - Civil War Comes to the West, Part II: Strategic Realities

And the ETF? The Tuttle Capital Self Defense Index ETF, though we prefer concentrated direct exposure through Axon Enterprise, Inc. 

 Possibly also of interest:

May 2019 - "Money and trust. Amsterdam moneylenders and the rise of the modern state..." 

It has always been about trust.
From the smallest group, immediate family, up through larger and larger populations, clans, tribes etc,  to the nation state, and, some hope, transnational and global agglomerations.
When trust is lost people instinctively pull back to the group or even the individuals they believe they can trust. 

July 2018 - Urban Warfare In A 'Smart City' Environment 

May 2019 - "Feral Cities"

November 2019 - U.S. Army "Mad Scientist Blog: 'Three Futurist Urban Scenarios'". 

December 2019 - "China tests killer drones for street-to-street urban warfare, plans sales overseas" 

August 2020 - U.S. Army Mad Scientist Laboratory: "The Convergence—Political Tribalism and Cultural Disinformation with Samantha North"

March 2024 - "Feral Cities, Indirect Streets, and Soft Fortification"

October 2023 - Tribes and States: Human Self-Organization

 And as noted in the introduction to 2020's "Tribalism":

The title of this piece was "Is Tribalism a Natural Malfunction?" but that seems an incorrect characterization.

It's all about trust, which is one of the reasons globalists have a problem convincing ordinary people to share their grand dreams and visions. Many of the things globalists have promised turned out not to be true so people go to the population size they feel they can trust.

Can't trust the U.N. after the Oil-for-Food frauds and the Rwandan genocides? Let's try nation-state.

Can't trust nation-states because one part of the populace cheats or shows themselves to be hypocrites? 
(And it is this very point, Orwell's “All animals are equal, but some animals are more equal than others.” where globalists lose the masses)

Let's try states.

And then city-states and if you can't trust your fellow metropolitans we'll go with blood relations, first tribes and if there are schisms there, to immediate family. Consanguinity and all that.

Tribalism isn't a "mal" anything, it's a survival mechanism for when you really, really have to increase the odds that you will be able to trust another person....

Wednesday, August 6, 2025

"S&P 500 Nuclear Giants Earnings Due As Stock Market Nuke Fever Spreads"

Vistra is one of the ten best performing stocks in the S&P 500 over the last year. More names after the jump.

From Investor's Business Daily, August 6:

S&P 500 nuclear plays Constellation Energy (CEG) and Vistra (VST) report second-quarter earnings and revenue Thursday as the stock market nuclear energy hype takes another jump as the Trump White House throws increasing support into nuclear power.

Vistra leads off reporting Q2 financials before the stock market opens Thursday with Constellation Energy following after the market closes. Analysts expect Vistra to see second-quarter profit grow 25 to 88 cents per share with revenue increasing 23% to $4.74 billion, according to FactSet. Meanwhile, Constellation Energy Q2 earnings are predicted to come in at $1.84 per share, marking a 9.5% increase vs. a year ago, on sales totaling $4.91 billion, down around 10% compared to Q2 2024.

On Tuesday, Constellation Energy announced it would hold its quarterly dividend steady at 39 cents a share. Meanwhile, Vistra regulatory filings on Tuesday showed that Qatar Investment Authority, the Qatar sovereign fund, has taken a 5.5% stake in VST, placing the fund among the stock's top three shareholders.

In May, both S&P 500 nuclear plays stuck by earlier full-year guidance. At the time, Constellation Energy maintained its initial 2025 guidance from Jan. 10 of adjusted earnings between $8.90-$9.60 per share, keeping its expectations unchanged since announcing the acquisition of Calpine, a privately owned natural gas and geothermal power generator, for $26.6 billion.

Vistra, like Constellation, reaffirmed in May its expectation of adjusted profit coming in between $5.5 billion and $6.1 billion.

Constellation Energy shares shot up 91% last year, while Vistra stock rocketed 258%, placing both among the top S&P 500 stocks and the best 100 stocks of 2024. So far in the 2025 stock market, Constellation Energy is up around 55%, placing it 12th in the S&P 500 index. Vistra has galloped 52% higher this year, good for 18th best in the S&P 500.

Constellation Energy fell around 2% to 337 at Wednesday's stock market open. Fellow S&P 500 component Vistra declined 4.3% to 200.56 at the stock market's opening bell. Both stocks declined Tuesday even as nuclear-related stocks generally moved higher.

Deals With Big Tech 
In early June, Constellation Energy signed a 20-year energy deal to fuel Facebook-parent Meta Platform's (META) "AI ambitions."

Meta will purchase more than 1,100 megawatts of nuclear energy from Constellation's Clinton Clean Energy Center in Clinton, Ill. The deal will support the relicensing and continued operations of the Clinton nuclear facility, beginning in June of 2027. The S&P 500 company added that the deal with Meta will expand Clinton's energy output by 30 megawatts. Constellation did not reveal financial details of the arrangement.

Constellation Energy's 20-year deal with Meta comes nine months after it sealed a two-decade contract with Microsoft (MSFT) in September to provide nuclear power for the tech giant's data centers.

The deal with Meta came after Constellation Energy executives suggested on its Q1 earnings call they were working on multiple deals this year....

....MUCH MORE 

And from NerdWallet, updated August 4: 

Best stocks by one-year performance

The best-performing stock in the S&P 500 by one-year return is Palantir Technologies Inc (PLTR), which is up 485.87%.

Ticker

Company

Performance (Year)

Performance (YTD)

PLTR

Palantir Technologies Inc

485.87%

108.30%

GEV

GE Vernova Inc

271.64%

101.38%

TPR

Tapestry Inc

166.53%

63.55%

VST

Vistra Corp

166.35%

53.04%

AXON

Axon Enterprise Inc

149.67%

26.03%

DASH

DoorDash Inc

125.07%

48.55%

NRG

NRG Energy Inc

124.98%

87.45%

RCL

Royal Caribbean Group

102.08%

37.28%

JBL

Jabil Inc

94.99%

52.68%

CRWD

Crowdstrike Holdings Inc

94.09%

31.58%

HWM

Howmet Aerospace Inc

93.38%

69.21%

UAL

United Airlines Holdings Inc

87.49%

-12.30%

NFLX

Netflix Inc

84.73%

30.22%

AVGO

Broadcom Inc

81.98%

26.12%

CEG

Constellation Energy Corporation

80.83%

53.42%

....MUCH MORE 

 

Tuesday, August 5, 2025

What Happens If President Obama Is Indicted By The New Grand Jury? (AXON)

Now is the time we juxtapose.

If the former Prez were to be indicted, I imagine there would be some hubbub and milling-about in the streets.

Which leads us to our favorite name in the less-than-lethal riot control industry, Taser-maker Axon.

From Benzinga, August 5:

Axon Soars Past 52-Week High As Outlook Ignites Investor Frenzy 

Axon Enterprise Inc. (NASDAQ:AXON) shares surged during Tuesday’s regular session after multiple analysts raised their price forecasts following the company’s strong second-quarter results and increased full-year revenue guidance.

According to Benzinga Pro, Raymond James maintained an Outperform rating on Axon and lifted its price forecast to $855 from $645. UBS reiterated a Neutral rating and raised its forecast to $840 from $820.

Needham reaffirmed its Buy rating and boosted its price forecast to $870 from $820. The upgrades came as Axon stock soared past its 52-week high of $830.21. The stock’s strong rebound from its 52-week low of $279.02 underscores its recent momentum. 

Axon reported second-quarter earnings of $2.12 per share, beating the consensus estimate of $1.46 by 45.11%. Revenue was $669 million, ahead of the $641.24 million estimate and up from $504.1 million a year earlier....

....MUCH MORE 

The stock is up $111.63 (+14.99%) at $856.51 on a generally down day.

Previously:

Profit From The Global Riot Control Industry
This is a repost from May 2016 but it's probably evergreen.

November 2021 - Today's Hot Tip From Investment Hulk

November 2022 - Elliot Management: "World ‘plunging towards societal collapse’ as era of cheap money ends"

February 2025 - Ahead Of The Spring Riot Season: "Taser Maker Axon Enterprise's Stock Soars on Strong Earnings, Outlook"

February 2025 -  "A beginner’s guide to sociopolitical collapse" 

June 8 - Boom Times For The Riot Control Industry

June 13 - Questions America Wants Answered: "Will Strong TASER Demand Continue to Guide Axon's Connected Devices Unit?" (AXON)

Friday, June 13, 2025

Questions America Wants Answered: "Will Strong TASER Demand Continue to Guide Axon's Connected Devices Unit?" (AXON)

On a generally down day for U.S. equities (e.g. DJIA -848.37) AXON is up $2.45 (+0.32%) at $777.65.

From Zacks via Yahoo Finance, June 12:

Axon Enterprise, Inc. AXON is expanding its footprint in the public safety technology space, with the Connected Devices segment playing an important role in overall growth. In the first quarter of 2025, the segment’s revenues surged 26.1% year over year, reflecting strong momentum across its product lines.

The ongoing demand for TASER devices is the core component of the segment’s success. AXON continues to benefit from the rising popularity of its next-generation TASER 10 products, which began shipping in 2023. Revenues from TASER devices increased $30.9 million year over year in the first quarter, driven by the higher volume of TASER 10 handles and cartridges.

Solid demand for virtual reality training services and counter drone equipment continues to support the segment’s growth. Axon launched the next-generation body-worn camera, Axon Body 4, in April 2023, which has added momentum as well. Equipped with enhanced features such as a bi-directional communication facility and a point-of-view camera module option, the product is generating strong customer demand, thus bolstering the segment’s growth. The Connected Devices unit is also benefiting from increased warranty revenues from a higher volume of deployed devices in the field.

With rising global security concerns, including increasing instances of terrorism and criminal activities, demand for advanced public safety technologies is expected to remain strong. These trends are likely to support the ongoing demand for Axon’s Connected Devices portfolio, positioning the segment well for sustained momentum in the quarters ahead...

....MUCH MORE 

I'll be hanging around the face-painting booth at tomorrow's big protest. Bring a bottle of water for a marginally effective teargas eyewash. 

Sunday, June 8, 2025

Boom Times For The Riot Control Industry

First up, a repost of February 26's Ahead Of The Spring Riot Season: "Taser Maker Axon Enterprise's Stock Soars on Strong Earnings, Outlook":

Although Axon specializes in less-than-lethal technology we will be keeping an eye on other members of the riot control/personal protection industry.

From Investopedia, February 26:

  • Axon Enterprise posted fourth-quarter earnings that topped analysts' estimates.
  • The Taser maker also offered a strong outlook on demand for its defense products.
  • Axon shares soared following the results and have nearly doubled in value over the last year. 

Axon Enterprise (AXON) shares soared Wednesday on the company's better-than-expected earnings and strong outlook on growing demand for its Taser 10 weapon, portable cameras, and premium subscriptions.

The defense products manufacturer posted adjusted fourth-quarter earnings per share (EPS) of $2.08, above analysts' estimates compiled by Visible Alpha. Revenue jumped 33.6% year-over-year to $575.1 million, also more than anticipated.1

Taser revenue was up 37.1% to $221.2 million, while revenue from Axon's Cloud & Services segment jumped 40.6% to $230.3 million, and Sensors & Other revenue grew 17.5% to $123.6 million.

For the full year, Axon said it anticipates adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $640 million to $670 million and sales of $2.55 billion to $2.65 billion. Analysts had been looking for adjusted EBITDA of $654 million and sales of $2.57 billion.

Shares of Axon Enterprise were up nearly 17% in Wednesday afternoon trading and have nearly doubled in value over the last year....

....MORE 

Previously:

November 2022: Elliot Management: "World ‘plunging towards societal collapse’ as era of cheap money ends"

*****
I'm not sure why Mr. Singer is talking about hyperinflation, that term has a specific meaning, 50%, or higher, per month price increases, that is the result of monetizing government deficit spending as it happens, i.e. printing money, and the major economies are at least 10 years from that.

On the other hand there is the probability that Central Banks will accept 4% CPI, declare victory and move on to other stuff. Thirdly, a decade of 10% annual inflation is a real possibility if the Central Banks decide their over-leveraged compadres in the private sector are worthy of being bailed out.

For the latter two scenarios the top-of-mind public riot-control equity names are Taser International (TASR) and Lamperd Less Lethal Inc. (LLLI).

Should the hyperinflation scenario actually occur you would probably want the old-line armaments purveyors, Northrup-Grumman (NOC), Ratheon [now RTX Corp.] (RTN RTX) or BAE Systems (BA:lon) come to mind.

And trench coats? Burberry from $2490.00.

Profit From The Global Riot Control Industry
This is a repost from May 2016 but it's probably evergreen.

2021: Today's Hot Tip From Investment Hulk

And from TradingView, note the verticality beginning at $425 for the week ended October 27, 2024:

 

Closing Friday at $791.85, a record regular session close and up another $6.15 (+0.78%) to $798.00 after-hours, just shy of Friday's all-time high of $798.16 intraday.

Being in the right place at the right time pays off. From the Wall Street Journal, June 1:

Taser Boss Tops Ranking of Highest-Paid CEOs, With $165 Million. Here’s the List.
Stock award propels Rick Smith past Apple’s Tim Cook and Blackstone’s Schwarzman to the top of WSJ’s annual ranking 

At RiskHedge they were posting: "Man, I wish I owned this stock" on May 22.