The U.S. Economy is Doing Well
But Elon Musk Predicts a Major Decline if Trump is Elected
Economic Indicators are reporting positive results.
Inflation is down to 2.8% according to data released by the Department of Commerce.
Based on the reduced inflation rate, the Federal Reserve is scheduled to lower the Federal Funds rate by at least 50 basis points by the end of 2024.
ADP reported that last month employers hired 230,000 workers, a strong number and higher than expectations.
But in light of these strong numbers, Elon Musk, a close confidant of Donald Trump and a major financial backer of Trump’s run for election, has some astounding predictions if Trump wins election.
Apparently, Musk made astounding predictions at Trump’s celebration of hatred, racism, misogyny and Puerto Rican hostility at his Madison Square Garden Circus, but Musk’s comments have not been widely reported. But “Market Watch” has now reported these Musk predictions if Trump wins.
Billionaire Musk, Trump’s would-be budget-cutting and government-efficiency czar, also says there will be “no special cases” and “no exceptions” when he starts slashing federal spending after Trump takes office.
And he predicts he will need “a lot of security” personally because of the likely reaction to his policy moves.
Speaking on a “telephone town hall” with supporters Tuesday, Musk promised deep federal budget cuts, austerity and economic pain ahead in a new Trump administration. …
Describing government spending as “a room full of targets,” Musk said: “Like, you can’t miss. Fire in any direction and you’re going to hit a target.”
He said, “I think once the election takes place we’ll immediately begin looking at where to take the most immediate action.”
And he added, “obviously a lot of people who are taking advantage of the government are going to be upset about that. I’ll probably need a lot of security.”
“Everyone,” he said, will be taking a “haircut.”
On his social-media platform X, formerly known as Twitter, the Tesla CEO went further and agreed with a supporter who predicted “an initial severe overreaction in the economy” and that “Markets will tumble.”
“Sounds about right,” Musk replied.
So Musk predicts that after his massive spending for Trump, Musk will become a budget tsar who will implement a Trump Budget Plan with very negative effects on the economy.
According to Musk, Elect Trump and markets will tumble.
Thanks to “Market Watch” for reporting these Musk comments at the MSG Circus.
