Elon Musk, Spacex CEO and Tesla CEO, says he is having a “super bad feeling about the U.S. Economy.” President Joe Biden replied with a list large-scale investments made by large corporations, and wished Musk success on his journey to the moon.
Elon Musk’s negative feelings about the U.S. economy
Elon Musk, Tesla CEO, stated that he feels “super bad” about the U.S. Economy in an email sent to executives. This was seen by Reuters.
Two days after Musk instructed staff to either return to work or to leave, Musk sent an email titled “pause all global hiring.” Musk also stated that he must reduce 10% of his staff at the electric car company.
Musk recently stated that the U.S. is in recession, or on the verge of one. Musk, who is the billionaire CEO at Spacex and Tesla, believes that a recession ” a positive thing.” He stated: “It’s been raining money on fools too long. There must be some bankruptcies.” He also predicted that the recession would last between 12 to 18 months .
Morgan Stanley analyst Adam Jonas believes Musk’s concerns should not be ignored. He elaborates:
Elon Musk is a unique expert on the global economy. We believe that his message would be highly credible.
Biden Responds To Elon Musk’s Comments
Friday’s response by President Joe Biden to Musk’s “super-bad feeling” comment on the U.S. economic situation was made by Joe Biden.
Biden pulled out a notecard from the jacket pocket and said “Well, let’s tell you, Elon Musk is talking a lot about that,”
Ford is increasing their investment in electric vehicles and hiring 6,000 employees (union employees) in the midwest. Stellantis, the former Chrysler Corporation, is also investing in electric vehicles. The president stated that Intel has added 20,000 jobs in computer chips manufacturing.”
Biden finished his sentence while putting his notecard in his jacket pocket.
You know what that means: lots of luck for his trip to the Moon.
Musk responded to Biden’s reply by tweeting, “Thanks Mr. President!” He also linked to an announcement by NASA that Spacex was selected to land the next American astronauts on the moon.
Musk isn’t the only one to predict that the U.S. will go into recession. Recently, Michael Burry Big Short investor, warned of a consumer recession. Goldman Sachs’ Lloyd Blankfein warned every consumer and company to be prepared for a recession. Soros Fund Management CEO Dawn Fitzpatrick stated that a recession was inevitable. JPMorgan CEO Jamie Dimon predicts an economic storm and advises investors to be prepared. Rich Dad Poor Dad author Robert Kiyosaki predicted that the markets would crash and that civil unrest and depression are on their way.