It’s Joe Biden vs. Elon Musk in war of words over state of US economy

Who are you gon na believe : the world ’ south rich man or the president with plunging poll numbers ?
Billionaire Elon Musk has such a “ super bad touch ” about the U.S, economy under President Biden that he plans to lay off about 10 % of the workers at his Tesla electric cable car company, it emerged Friday .
Biden reacted to the technical school mogul ’ s blue expectation with sarcasm — and then took a dig at his SpaceX caller ’ second upcoming deputation .
“ Lots of luck on his stumble to the moonlight, ” Biden said of Musk during an strain weekend slip to his Delaware beach base.

Musk snarked back on chirrup with a connect to a 2021 NASA press release about SpaceX winning a $ 2.89 billion sign to send the next american astronauts to the moonlight in planning for an eventual trip to Mars, where Musk plans to establish a human colony .
“ Thanks Mr President ! ” he added .
Joe BidenBiden brushed off Musk’s criticisms about the US economy. AP
The war of words erupted against the backdrop of Musk ’ s new condition as the No. 1 enemy of progressives, who are infuriated that he plans to buy Twitter and turn it into a platform for unregulated free speech, which proponents say would give button-down viewpoints a foothold on the liberal-dominated social media locate .
On April 15, Sen. Elizabeth Warren ( D-Massachusetts ) sarcastically wished Musk a “ glad Tax Day, ” noting that he reportedly paid no federal income tax in 2018 — even though he said he ’ d pay a phonograph record $ 11 billion on his 2021 earnings .
Rep. Alexandria Ocasio-Cortez ( D-NY ) has besides accused Musk of having “ an self problem ” and last week told Bloomberg she wanted to ditch her Tesla Model 3 for an electric fomite made by unionize workers .
Musk is an outspoken opponent of unions who recently tweeted that he planned to stop vote for Democrats “ because they have become the party of division & hate, so I can no longer support them and will vote Republican. ”
“ immediately, watch their dirty tricks campaign against me unfold, ” he added .
Elon MuskMusk said that for the near future he will be voting for Republicans. AP
On Friday, Reuters said it obtained emails showing that Musk told Tesla executives on Thursday to “ pause all hiring cosmopolitan. ”
In a follow-up e-mail to employees, Musk said that the caller would reduce its compensated head count by 10 % because it ’ mho “ overstaffed in many areas ” but that “ hourly head count will increase, ” according to Reuters .
“ note, this does not apply to anyone actually building cars, battery packs or installing solar, ” Musk reportedly said .
Tesla and its subsidiaries employed about 100,000 people last year, according to a Securities and Exchange Commission filing that didn ’ deoxythymidine monophosphate break down the numbers of salaried and hourly workers .
Musk ’ second emails followed repeated warnings from him that the US faced the gamble of a receding .
“ Elon Musk has a uniquely informed insight into the ball-shaped economy. We believe that a message from him would carry high credibility, ” Morgan Stanley analyst Adam Jonas said in a report .
TeslasMusk announced Friday he plans to lay off about 10% of Tesla employees. REUTERS

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And while requirement for Teslas and other electric vehicles has remained strong, analyst Frank Schwope of the german bank NordLB said, “ It is always better to introduce austerity measures in good times than in bad times. ”
“ I see the statements as a forewarning and a precautionary measure, ” Schwope added .
other leading execs have besides been warning about the hypothesis of an american recession amid inflation that last month surged to 8.5 %, the highest it ’ randomness been in more than 40 years .
“ That hurricane is right field out there down the road coming our way, ” JPMorgan Chase chair and CEO Jamie Dimon said Wednesday .
Biden — who scored a blue 40 % approval evaluation in a Rasmussen Reports poll Friday — contrasted Musk ’ s corporate cutbacks with Ford ’ s Thursday announcement that it planned to add 6,200 factory jobs in Michigan, Missouri and Ohio to boost production of electric vehicles .
“ While Elon Musk is talking about that, Ford is increasing their investment overwhelmingly, ” he said .
Biden noted that the new hires would be “ union employees, I might add. ”
The president besides touted the May jobs report card released by the Labor Department on Friday, saying that the U.S. had made “ the most full-bodied recovery in advanced history. ”
“ The caper grocery store is the strongest it ’ sulfur been since just after World War II, ” he claimed .
The monthly statistics showed the state ’ mho employers continued their rent mottle by adding 390,000 jobs, keeping the unemployment rate at 3.6 %, just above a half-century abject .
But while job growth remained firm, May ’ s count marked the lowest monthly gain in a year and stock grocery store indexes fell on expectations that the Federal Reserve would continue raising matter to rates in a wish to ease ostentation .
The Fed ’ second moves have already caused mortgage rates to spike, pushing down home sales, and increased the cost of borrowing for businesses seeking to invest in newfangled buildings and equipment in the wake of the COVID-19 pandemic .
Biden was pressed on the subject of inflation, a key gene in his pathetic poll numbers .
“ There ’ s no denying prices, particularly around gasoline and food, are real problems, ” he said .
“ I understand that families who are struggling probably don ’ t manage why prices rose. They just want to bring them down. ”
Patrick Ruffini, a partner at Echelon Insights, said that with the November midterms looming, high gear ostentation has caused more voters to favor republican policies of cutting government spend and increasing oil and accelerator production.

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Voters besides want to see “ political leadership, ” Ruffini said .
“ For a retentive time, the Biden administration was not even seeming to acknowledge the problem, ” he said .
With Post wires

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