{"id":119887,"date":"2024-10-30T02:09:49","date_gmt":"2024-10-29T19:09:49","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=119887"},"modified":"2024-10-30T02:09:49","modified_gmt":"2024-10-29T19:09:49","slug":"elon-musk-agrees-that-trump-win-would-cause-economic-crash","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=119887","title":{"rendered":"Elon Musk Agrees That Trump Win Would Cause Economic Crash"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"paragraph larva \/\/ lrv-u-line-height-copy  lrv-a-font-body-l   \">\n\tEconomists have repeatedly warned that a second Trump administration would be a <a href=\"https:\/\/www.rollingstone.com\/politics\/politics-features\/trump-harris-white-house-for-sale-1235095894\/\">boon to the ultra wealthy<\/a> and a backslide for everyone else. As the 2024 campaign season enters its final days, the former president\u2019s most prominent billionaire backer is in agreement, and he wants regular Americans to just suck it up.\u00a0<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-line-height-copy  lrv-a-font-body-l   \">\n\tOn Tuesday, <a href=\"https:\/\/www.rollingstone.com\/t\/elon-musk\/\" id=\"auto-tag_elon-musk\" data-tag=\"elon-musk\">Elon Musk<\/a> \u2014 the billionaire owner of X (formerly Twitter) and Tesla \u2014 agreed in a social media post that <a href=\"https:\/\/www.rollingstone.com\/t\/donald-trump\/\" id=\"auto-tag_donald-trump\" data-tag=\"donald-trump\">Donald Trump<\/a>\u2019s return to office would likely crash the economy.\u00a0\u00a0<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-line-height-copy  lrv-a-font-body-l   \">\n\t\u201cIf Trump succeeds in forcing through mass deportations, combined with Elon hacking away at the government, firing people and reducing the deficit \u2013 there will be an initial severe overreaction in the economy,\u201d user @FischerKing64 <a href=\"https:\/\/x.com\/whstancil\/status\/1851265385909092565\" rel=\"nofollow noopener\" target=\"_blank\">wrote on X<\/a>. \u201cMarkets will tumble. But when the storm passes and everyone realizes we are on sounder footing, there will be a rapid recovery to a healthier, sustainable economy,\u201d he added.\u00a0\u00a0<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-line-height-copy  lrv-a-font-body-l   \">\n\t\u201cSounds about right,\u201d Musk replied.\u00a0<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-line-height-copy  lrv-a-font-body-l   \">\n\tThe billionaire has been heavily campaigning for Trump in the final weeks of the campaign, including by hosting a potentially illegal cash-for-signatures scheme and million-dollar raffle for registered voters in key swing states. The former president has, in turn, vowed that Musk will be appointed as the head of a \u201cgovernment efficiency commission\u201d under his administration, and be tasked with slashing wasteful spending.\u00a0<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-line-height-copy  lrv-a-font-body-l   \">\n\tOn Friday, Musk <a href=\"https:\/\/www.rollingstone.com\/politics\/politics-news\/musk-trump-win-hardship-americans-super-pac-2024-election-1235144449\/\">explained<\/a> how he felt such an appointment would play out during a virtual town hall hosted on X.\u00a0<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-line-height-copy  lrv-a-font-body-l   \">\n\t\u201cWe have to reduce spending to live within our means,\u201d Musk said, that will \u201cinvolve some temporary hardship, but it will ensure long-term prosperity.\u201d<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-line-height-copy  lrv-a-font-body-l   \">\n\tIt\u2019s unlikely that the world\u2019s richest man will feel any sort of material economic hardship as he takes scissors to the federal budget. If Musk\u2019s own corporate record cutting costs is anything to go by, the results could be disastrous. Musk\u2019s two-year tenure as the owner of the platform formerly known as Twitter resulted in a drastic shrinking of the company\u2019s workforce, as well as an estimated <a href=\"https:\/\/www.cnn.com\/2024\/10\/02\/business\/elon-musk-twitter-x-fidelity\/index.html#:~:text=The%20social%20media%20platform%20formerly,it%20private%20in%20October%202022.\" rel=\"nofollow noopener\" target=\"_blank\">80 percent reduction in the company\u2019s value<\/a> and sharp decline in revenue.\u00a0<\/p>\n<section class=\"brands-most-popular \/\/ editors-pick-module lrv-u-margin-tb-2 lrv-u-border-a-2 u-box-shadow-5-5 lrv-u-padding-lr-1 a-span1 u-padding-b-1@tablet u-overflow-hidden\">\n<h2 id=\"section-heading\" class=\"c-heading larva  lrv-u-text-align-center u-border-color-black a-font-theme-primary-xxs lrv-u-color-black lrv-u-text-transform-uppercase u-letter-spacing-0063 lrv-u-padding-t-050 u-padding-b-0375@tablet lrv-u-padding-b-050@mobile-max lrv-u-border-b-2\">\n<p>\t\tEditor\u2019s picks<\/p>\n<\/h2>\n<\/section>\n<p class=\"paragraph larva \/\/ lrv-u-line-height-copy  lrv-a-font-body-l   \">\n\tWhen not railing about immigration, the Trump campaign has made economic wellness a central talking point of its electoral message, promising explosive growth and endless prosperity to prospective voters. Economists say the former president\u2019s actual proposals will do the opposite.\u00a0<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-line-height-copy  lrv-a-font-body-l   \">\n\tIn June, a coalition of Nobel Prize-winning economists <a href=\"https:\/\/www.rollingstone.com\/politics\/politics-news\/nobel-prize-winners-trump-inflation-biden-economy-1235046727\/\">warned<\/a> that Trump will \u201creignite\u201d inflation and \u201chave a negative impact on the U.S.\u2019s economic standing in the world and a destabilizing effect on the U.S.\u2019s domestic economy.\u201d<\/p>\n<section class=\"brands-most-popular \/\/ recirculation-modules trending-in-article lrv-u-margin-tb-2 lrv-u-border-a-2 u-box-shadow-5-5 lrv-u-padding-lr-1 a-span1 u-padding-b-1@tablet u-overflow-hidden\">\n<h2 id=\"section-heading\" class=\"c-heading larva  lrv-u-text-align-center u-border-color-black a-font-theme-primary-xxs lrv-u-color-black lrv-u-text-transform-uppercase u-letter-spacing-0063 lrv-u-padding-t-050 u-padding-b-0375@tablet lrv-u-padding-b-050@mobile-max lrv-u-border-b-2\">\n<p>\t\tTrending Stories<\/p>\n<\/h2>\n<\/section>\n<p class=\"paragraph larva \/\/ lrv-u-line-height-copy  lrv-a-font-body-l   \">\n\tOther macroeconomic experts have warned that Trump\u2019s proposal to implement broad-based tariffs on all imported goods would not only raise the prices of common goods for Americans, but send <a href=\"https:\/\/www.washingtonpost.com\/business\/2024\/10\/16\/trump-tariffs-impact-economy\/\" rel=\"nofollow noopener\" target=\"_blank\">shockwaves<\/a> throughout global markets.\u00a0<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-line-height-copy  lrv-a-font-body-l   \">\n\tMusk, who benefits from extensive government subsidies and federal contracts to fund and produce his technological projects, has opposed Vice President Kamala Harris\u2019 proposal to implement more stringent tax burdens on billionaires. Under Trump, Musk would not only be granted a tax boon, but a position in the federal government where his decisions would \u2014 by his own admission \u2014 steamroll Americans desperate for economic stability.\u00a0<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.rollingstone.com\/politics\/politics-news\/elon-musk-agrees-trump-win-economic-crash-1235146307\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Economists have repeatedly warned that a second Trump administration would be a boon to the ultra wealthy and a backslide for everyone else. As the 2024 campaign season enters its &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=119887\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-119887","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=119887"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119887\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=119887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=119887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=119887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}