CEO of Tesla Elon Muskwhose Twitter purchase is still going on, slammed President Biden In a podcast interview on Monday, he warned that if the government continues to print money, economic inflation It will get worse and the United States may follow the path of Venezuela.
Musk, who said he voted “by an overwhelming majority for Democrats,” criticized the Democratic Party and Biden in particular. He noted that Biden is a kind of blank slate.
“The real boss is the one who controls the teleprompter,” said the Tesla CEO. “The path to power is the path to the teleprompter.”
“I feel that if someone accidentally relied on the teleprompter they would be like Anchorman,” the CEO added, referring to the 2004 film in which Ron Burgundy reads everything that is written on the remote control.
“It doesn’t look like this administration has accomplished much,” Musk said. “The Trump administration, if you leave Trump aside, there have been a lot of people in the administration who have been instrumental in getting things done.”
He also alleged that the Democratic Party is “overly controlled by unions and trial attorneys, especially class action attorneys.” When Democrats conflict with “the interests of the people,” he said, it tends to come from unions and trial attorneys, while when Republicans do, “it’s because of corporate evil and religious bigotry.”
“In Biden’s case, he was often taken prisoner by unions, and that wasn’t the case with Obama,” Musk said. The Tesla CEO defended Obama as “completely reasonable,” but insisted Biden prioritize unions over the public.
“I mean, the obvious reason for inflation is that the government printed over a billion dollars, obviously,” Musk said, echoing Republican critics who claim the relief bill for Biden’s COVID-19 rescue plan contributed to High inflation for 40 years The United States saw in April.
The Tesla CEO argued, “It’s as if the government can’t just, you know, issue checks so much in excess of revenue without there being inflation, the velocity of money is constant.” “If the federal government writes the checks, they never bounce. That actually means more dollars are created. And if there are more dollars created, the increase in goods and services across the economy, then you have inflation, again, a constant velocity of money.”
Musk insisted that “this is very basic” and “not like, you know, very complicated.”
“If the government can only issue huge amounts of money and the deficit doesn’t matter, then, well, why not make the deficit 100 times bigger? The answer is, you can’t because it will basically turn the dollar into something worthless.”
Musk noted that “different countries have tried this experiment several times.” “Have you seen Venezuela? You know, the poor of Venezuela have been brutally attacked by their government.”
Inflation in Venezuela has reached an astonishing level 65,374.08% In 2018, amid an economic downturn that began with government price controls and a drop in oil prices. The government began printing money to adjust, prices rose dramatically, unemployment increased, and GDP collapsed.
“You obviously can’t simply make money,” Musk said. He emphasized the “real economy” by which he meant “the output of goods and services” as opposed to just money.
US inflation rose 8.3% in April, just below the 8.5% jump in March, but still near a 40-year high.
Musk spoke about his purchase of Twitter, emphasizing his belief in the need for a neutral “public city square.”
“I think there is a need for a public town square, a digital town square where people can discuss issues of all kinds, including the most fundamental,” he said. For this to work, the platform must be “as broadly inclusive as possible” and must feel “balanced from a political point of view”, that is, “somehow unbiased”.
“The reality is that Twitter, at this point, has a very far left bias,” Musk said. I am confident in myself as a moderate, not a Republican or a Democrat.”
Musk also lamented California’s decline. He said that the Golden State was once a “land of opportunity” but has become a land of “taxation, overregulation and litigation.” He said, “There should be serious pipe cleaning in California.”
And he insisted, “there should be a greater than zero per cent chance of a Republican victory in California.”
musk She said Last week, he said his Twitter acquisition is hanging on with pending details about spam and fake accounts on the platform, but added that he “remains committed” to buying the social media company.