Elon Musk, Tesla CEO, stated that he feels’super bad’ about the U.S. Economy in an email sent to executives and seen by Reuters.
Two days after Musk instructed staff to either return to work or to leave, Musk sent an email titled “pause all hiring worldwide”. 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, the billionaire CEO at Spacex and Tesla, believes that a recession is “a good idea.” He stated: “It has been raining on fools for far 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 comment of’super bad feelings’ about the U.S. economic system was made on Friday.
Biden pulled out a notecard from the jacket pocket and said: “Well, let’s tell you, Elon Musk is still talking about that,”
Ford is increasing their investment in electric vehicles and hiring 6,000 employees. These are union employees. 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 tweet with “Thanks, Mr. President!’ President!
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.