Elon Musk's SCHEME Just Took Your 401(k) Hostage

Elon Musk runs an actual company town in Texas. Starbase's voters are mostly his employees, the mayor is a SpaceX vice president, the city can close a public beach for launches, and residents got memos warning they may lose the use of their own property. Now SpaceX has gone public at a $1.77 trillion valuation despite $41 billion in accumulated losses, and major stock indexes reportedly bent their own rules to add it immediately, forcing index funds, meaning your 401(k), to buy in automatically. Paul Krugman calls Musk a 'human Ponzi scheme.' Josh explains how the company town story became a retirement-account story. Ring of Fire's Josh G. explains.

Paul Krugman, Elon Musk, Human Ponzi Scheme: https://paulkrugman.substack.com/p/elon-musk-human-ponzi-scheme

New York Times Opinion, Elon Musk's Starbase, Texas: https://www.nytimes.com/2026/06/12/opinion/elon-musk-spacex-starbase-texas.html

Fortune, Starbase notifying residents they may lose the right to continue using their property: https://www.fortune.com/2025/05/30/elon-musk-spacex-company-town-starbase-property-rights

Texas Tribune, Starbase gets new power to close beach for SpaceX launches: https://www.texastribune.org/2025/06/01/texas-legislature-starbase-elon-musk-spacex-beach/

NBC News, SpaceX set for historic IPO: https://www.nbcnews.com/news/us-news/spacex-stock-ipo-us-mens-soccer-world-cup-morning-rundown-rcna349749

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