If you listen to the elite powers that be, Biden and the like, then you probably believe that the economy is, to use Biden’s words, “strong as hell.” If you listen to those actually on the ground and dealing with the present economic conditions, however, people like Elon Musk, then you’d have a very different view.
That’s because Musk is taking a very different tack than Biden and arguing that, far from being “strong as hell,” the US economy is heading into a long recession.
Such is what Musk said on Twitter on the 21st, saying that the economy will be in a recession until the spring of 2024.
That comment came after Elon, commenting on a post about Covid cases, said “It sure would be nice to have one year without a horrible global event.”
Responding to that comment, the “Tesla Owners of Silicon Valley” account said “How long you think the recession will last“.
In came Elon Musk with a reponse, saying “Just guessing, but probably until spring of ‘24“.
And it didn’t end there. The same account then pressed Elon for his view on the severity of the incoming recession, asking “How much worse do you think it will get?? Like a little worse or a ton worse ?”
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Elon responded in a way that will likely lead to worry for all those “zombie” companies out there that exist thanks only to cheap debt, saying that those strong companies will survive and weak ones won’t. Darwinism for corporate America. In his words:
Varies a lot. Tesla & SpaceX are in good positions, but many other companies are not.
Recessions do have a silver lining in that companies that shouldn’t exist stop existing.
Earlier in the week, during a Tesla earnings call, Musk also said that Tesla would be moving ahead with its production plans regardless of the state of the economy, saying “To be frank, we’re very pedal to the metal come rain or shine. We are not reducing our production in any meaningful way, recession or not recession.”
Musk added, during that call, that he thinks the US is in “pretty good health,” saying:
“The U.S. actually is in – North America’s in pretty good health. A little bit of that is raising interest rates more than they should, but I think they’ll eventually realize that and bring back down, I think.”
So that would point toward his thinking the recession will be moderate, here at least. We’ll see if that holds true as the cascade of bad events continues.
Regardless of his opinion on the severity of a recession, his opinion that there will be one stands in stark contrast to Biden, who said (while eating ice crime at a Baskin Robbins, no less):
I’m not concerned about the strength of the dollar. I’m concerned about the rest of the world. Our economy is strong as hell.
Continuing, Biden said that the real problem is abroad, not America. In his words:
“Inflation is worldwide. It’s worse off than it is in the United States. So the problem is the lack of economic growth and sound policy in other countries, not so much ours.”
By: Gen Z Conservative