Tesla and Spacex CEO Elon Musk says he has a “super bad feeling” about the U.S. economy. President Joe Biden answered with a rundown of significant speculations by enormous companies and wished Musk karma on his excursion to the moon.
Elon Musk’s Bad Feeling About the U.S. Economy
Tesla CEO Elon Musk said he has a “super bad feeling” about the U.S. economy in an email to leaders seen by Reuters.
The email, named “pause all hiring worldwide,” was sent two days after Musk advised staff to get back to the working environment or leave. He likewise said he wants to cut around 10% of staff at his electric vehicle company.
Musk has as of late cautioned that the U.S. economy is either currently in a downturn or is going towards one. Notwithstanding, the tycoon CEO of Tesla and Spacex accepts that a downturn is “a good thing,” expressing: “It has been raining money on fools for too long. Some bankruptcies need to happen.” He likewise assessed that the downturn will endure somewhere in the range of 12 and 18 months.
Morgan Stanley examiner Adam Jonas accepts that Musk’s interests ought to be regarded, elaborating:
Elon Musk has an extraordinarily educated understanding into the worldwide economy. We accept that a message from him would convey high credibility.
Biden Responds to Elon Musk’s Comments
On Friday, President Joe Biden answered Musk’s “super bad feeling” remark about the U.S. economy.
“Well, let me tell you, while Elon Musk is talking about that, Ford is increasing their investment overwhelmingly,” Biden expressed, pulling out a notecard from his coat pocket.
“Ford is increasing their investment and building new electric vehicles, 6,000 new employees ― union employees, I might add ― in the midwest. The former Chrysler Corporation, Stellantis, they are also making similar investments in electric vehicles. Intel is adding 20,000 new jobs making computer chips,” the president continued.
Biden finished up while putting his notecard back into his coat pocket:
So, you know, loads of karma on his excursion to the moon.
Following Biden’s reaction, Musk tweeted, “Thanks, Mr. President!” His tweet incorporated a connection to a declaration that NASA picked Spacex to land the following Americans on the moon.
Musk isn’t the one in particular who has anticipated that the U.S. economy is going towards a downturn. The Big Short financial backer Michael Burry as of late cautioned of an approaching buyer downturn. Goldman Sachs’ Lloyd Blankfein encouraged each organization and buyer to plan for a downturn. Soros Fund Management CEO Dawn Fitzpatrick said a downturn is unavoidable. JPMorgan CEO Jamie Dimon sees a financial tropical storm coming, advising financial backers to prepare themselves. Quite possibly the most ridiculously critical expectation came from Rich Dad Poor Dad creator Robert Kiyosaki who said that markets are slumping and a downturn and common distress are coming.
What do you ponder Elon Musk’s remarks and Biden’s reaction? Tell us in the remarks area below.
Kevin Helms
Image Credits: Shutterstock, Pixabay, Wiki Commons
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