Elon Musk Has A 'Super Bad Feeling' About The Economy As Biden Wishes Him Luck On Moon Voyage
Elon Musk reportedly laid off 10 percent of Tesla employees late last night after sharing that he has a “super bad feeling” about the future of the economy. Not long after, President Joe Biden clapped back and responded to Musk's worries while answering questions at a tour of Ford's new electric vehicle factory — a notable Tesla competitor.
The cuts to Tesla’s workforce come amid a difficult few months for the company as more competitors producing electric cars are making inroads on Tesla’s dominance of the market and the company's stock price is significantly down.
Media keeps covering for Musk. Never once does @CNBC point out that these cuts are coming after Musk attacked Tesla's customer base and its stock tanked over 40%.https://t.co/RDttgnfK9a
— What's Up Doc? 🏳️🌈 (@KDavisGayFriend) June 3, 2022
Many commentators blame Musk himself, arguing that his attempt to purchase Twitter using money from Tesla shares he holds has driven down the stock and spooked investors. They also point out that Musk’s recent political comments may alienate the customers Tesla wants to sell to, who are generally liberal and environmentally conscious.
I swear #ElonMusk is actually an idiot.- Moves production plants to Texas, with shit infrastructure and people who won't buy his cars- Repeatedly tanks #Tesla stock with dumbass super Conservative tweets- Lays off 10% of Tesla staff because of "super bad feeling"Ok pal 🤡
— Bannerlord 🇺🇦 (@lastplacepace) June 3, 2022
But the economy beyond Tesla is also showing some bad signs. Inflation is on the rise, and the markets have been down for weeks now. Chase CEO Jamie Dimon spoke this week about the imminent arrival of an “economic hurricane,” which may be his way of sharing a “super bad feeling.”
MOOD now that Elon has a "super bad feeling" about the economy. pic.twitter.com/zg5X9F6rkb
— John Pompliano (@JohnPompliano) June 3, 2022
Other posters pointed out that Musk’s comments about a “super bad feeling” just happen to land on June 3rd, the birthday of McLovin, a character from the 2011 comedy film Superbad.
We've been talking all morning about @elonmusk "super bad economy" and now this from the movie "Superbad" Note the date on the fake ID.Did Musk know this .. or just random but interesting?I'm going to retire. https://t.co/CQY0dNXBUz
— Brian Sullivan (@SullyCNBC) June 3, 2022
Lol @elonmusk feeling ‘Super Bad’ on McLOVIN’s birthday pic.twitter.com/vDsej7eDJW
— Chair of Wizard (@chairofwizard) June 3, 2022
Tesla competitor Ford, meanwhile, is hiring for thousands of new positions to build a new line of electric vehicles and received a recent visit from President Biden who, when asked by reporters about Musk, wished him “lots of luck on his trip to the moon, I guess.”
NEW: President Biden just reacted to Elon Musk cutting production while companies like Ford are expanding American union jobs: “Lots of luck on his trip to the moon, I guess.”
— No Lie with Brian Tyler Cohen (@NoLieWithBTC) June 3, 2022
For all of you who still do not understand what "shade" is,
POTUS</a> just gave you a masterclass via <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">elonmusk https://t.co/lvHtC0OMwv— Linette Lopez (@lopezlinette) June 3, 2022
Biden on Elon being concerned about The U.S economy: Reporter: “ Elon said he had a bad feeling about the economy & is laying off 10% of his workforce.”Joe Biden: “ Ford is Increasing their investment adding 6k employees, union employees I might add “ pic.twitter.com/mhEr8KmNer
— M-A.Stay’Legit ™️🇨🇦🇩🇪 (@BagdMilkSoWhat) June 3, 2022
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This is why we need unions.
Chewybunny
There are a ton of signs that the economy is about go into a recession, if not a depression. Jamie Dimon CEO of JPMorgan Chase, for example, is warning that we need to brace ourselves for an economic "hurricane". Earlier in the year Ray Dalio who was co founder of Bridgewater Associates, the biggest hedge fund in the world, made similar predictions in February. Meanwhile US inflation rate over the year is (as of April) 8.1%. Maybe if the Biden administration didn't gas light people saying that inflation was very temporary despite economists predicting it's not, and maybe stop blaming everyone and everything else but poor policy choices of his administration for the economic woes, he would have some credibility to criticize Musk.
JJvagnar
Ukraine war has really screwed up world, far beyond anything government policies can affect, whether democrats or republicans would be in power right now
Jill
While you aren't wrong, Chewbunny is less blaming Biden for things going poorly in the first place and instead is criticizing the way the administration played the hand it was given.
Chewybunny
The war in Ukraine certainly exacerbated a problem, no one is going to deny that, but we haven't even seen the full scale of this yet (wheat prices are about to explode). However, in January of 2022, 2 months before the war even began inflation rate was already at 7.5%. Crude oil costs from January of 2021, to January of 2022, nearly doubled. Omicron fears, (which were ultimately a bust) caused market volatility through later half of 2021. Ignoring inflation a year ago has been a terrible administrative move. Revoking Keystone XL Pipeline project in Jan 21', proposing a major tax increase on oil and gas production in May 21', caused pressure on oil and gas going up. And rather than reversing an energy policy hostile to domestic oil/gas production, he slaps a bandaid by releasing 50 million barrels of oil from U.S. Strategic Petroleum Reserve. Now of course, there are tons of things outside of US control putting pressure on inflation and economic turbulence, but it doesn't seem like Biden's admin is being proactive about it, and instead being entirely reactive.
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