{"id":12576,"date":"2022-06-04T07:08:47","date_gmt":"2022-06-04T07:08:47","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tesla-ceo-elon-musk-has-super-bad-feeling-about-us-economy-biden-responds-bitcoin-news\/"},"modified":"2022-06-04T07:08:47","modified_gmt":"2022-06-04T07:08:47","slug":"tesla-ceo-elon-musk-has-super-bad-feeling-about-us-economy-biden-responds-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tesla-ceo-elon-musk-has-super-bad-feeling-about-us-economy-biden-responds-bitcoin-news\/","title":{"rendered":"Tesla CEO Elon Musk Has ‘Super Bad Feeling’ About US Economy \u2014 Biden Responds \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n<\/div>\n

Tesla and Spacex CEO Elon Musk says he has a \u201csuper bad feeling\u201d about the U.S. economy. President Joe Biden responded with a list of major investments by large corporations and wished Musk luck on his trip to the moon. <\/strong><\/p>\n

Elon Musk\u2019s Bad Feeling About the U.S. Economy<\/h2>\n

Tesla CEO Elon Musk said he has a \u201csuper bad feeling\u201d about the U.S. economy in an email to executives seen by Reuters.<\/p>\n

The email, titled \u201cpause all hiring worldwide,\u201d was sent two days after Musk told staff to return to the workplace or leave. He also said he needs to cut about 10% of staff at his electric car company.<\/p>\n

Musk has recently warned that the U.S. economy is either already in a recession or is headed towards one. However, the billionaire CEO of Tesla and Spacex believes that a recession is \u201ca good thing<\/a>,\u201d stating: \u201cIt has been raining money on fools for too long. Some bankruptcies need to happen.\u201d He also estimated that the recession will last between 12 and 18 months<\/a>.<\/p>\n

Morgan Stanley analyst Adam Jonas believes that Musk\u2019s concerns should be heeded, elaborating:<\/p>\n

\n

Elon Musk has a uniquely informed insight into the global economy. We believe that a message from him would carry high credibility.<\/p>\n<\/blockquote>\n

Biden Responds to Elon Musk\u2019s Comments<\/h2>\n

On Friday, President Joe Biden responded to Musk\u2019s \u201csuper bad feeling\u201d comment about the U.S. economy.<\/p>\n

\u201cWell, let me tell you, while Elon Musk is talking about that, Ford is increasing their investment overwhelmingly,\u201d Biden said, pulling out a notecard from his jacket pocket.<\/p>\n

\u201cFord is increasing their investment and building new electric vehicles, 6,000 new employees \u2015 union employees, I might add \u2015 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,\u201d the president continued.<\/p>\n

Biden concluded while putting his notecard back into his jacket pocket:<\/p>\n

\n

So, you know, lots of luck on his trip to the moon.<\/p>\n<\/blockquote>\n

Following Biden\u2019s response, Musk tweeted, \u201cThanks, Mr. President!\u201d His tweet included a link to an announcement that NASA picked Spacex to land the next Americans on the moon.<\/p>\n

Musk is not the only one who has predicted that the U.S. economy is headed towards a recession. The Big Short investor Michael Burry<\/a> recently warned of a looming consumer recession. Goldman Sachs\u2019 Lloyd Blankfein<\/a> advised every company and consumer to prepare for a recession. Soros Fund Management CEO Dawn Fitzpatrick<\/a> said a recession is inevitable. JPMorgan CEO Jamie Dimon<\/a> sees an economic hurricane coming, telling investors to brace themselves. One of the most dire predictions came from Rich Dad Poor Dad author Robert Kiyosaki<\/a> who said that markets are crashing and a depression and civil unrest are coming.<\/p>\n

What do you think about Elon Musk\u2019s comments and Biden\u2019s response? Let us know in the comments section below.<\/strong><\/em><\/p>\n

\n
\n<\/div>\n
\n
\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n