{"id":1502609,"date":"2022-06-03T13:34:49","date_gmt":"2022-06-03T17:34:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1502609"},"modified":"2022-06-03T13:34:55","modified_gmt":"2022-06-03T17:34:55","slug":"biden-throws-shade-at-elon-musk-over-his-recession-concerns","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-throws-shade-at-elon-musk-over-his-recession-concerns\/","title":{"rendered":"Biden Throws Shade At Elon Musk Over His Recession Concerns"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-throws-shade-at-elon-musk-over-his-recession-concerns%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1502609&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>President Joe Biden dismissed Elon Musk\u2019s concerns about an upcoming recession at a Friday event amid the tech billionaire\u2019s calls to cut 10% of Tesla\u2019s employment.<\/p>\n<p><a href=\"https:\/\/dailycaller.com\/2022\/05\/18\/elon-musk-democrats-party-division-hate\/\" target=\"_blank\" rel=\"noopener noreferrer\">Musk<\/a> told company executives Thursday he has a \u201csuper bad feeling\u201d about the economy and plans to cut 10% of Tesla\u2019s job positions, Reuters <a href=\"https:\/\/www.reuters.com\/technology\/exclusive-musk-says-tesla-needs-cut-staff-by-10-pauses-all-hiring-2022-06-03\/\" target=\"_blank\" rel=\"noopener noreferrer\">reported<\/a>. In a Friday email, the Tesla CEO told employees about the cut due to the company becoming \u201coverstaffed in many areas.\u201d<\/p>\n<p>\u201cWhile Elon Musk is talking about that, Ford is increasing their investment overwhelmingly,\u201d the president said. \u201cI think Ford is increasing their investment in building new electric vehicles [by] 6,000 new employees, union employees I might add, in the Midwest. The former Chrysler corporation, Stellantis, they are making similar investments in electric vehicles. Intel is adding 20,000 new jobs for making computer chips. So, lots of luck to his trip to the moon.\u201d<\/p>\n<p>Musk\u2019s new announcement came just a few days after he reportedly <a href=\"https:\/\/dailycaller.com\/2022\/06\/01\/elon-musk-tesla-employees-in-person\/\" target=\"_blank\" rel=\"noopener noreferrer\">ordered<\/a> Tesla employees to spend a minimum of 40 hours per week in the office to depart the company if they wish to work remotely, Electrek first <a href=\"https:\/\/electrek.co\/2022\/06\/01\/elon-musk-tesla-employees-come-back-office-or-quit\/\" target=\"_blank\" rel=\"noopener noreferrer\">reported<\/a> Wednesday. An annual SEC filing report found that Tesla and its subsidiaries had over 100,000 employees in 2021, according to Reuters. <strong><a href=\"https:\/\/dailycaller.com\/2021\/09\/20\/joe-biden-elon-musk-spacex-civilian-space-mission\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: \u2018He\u2019s Still Sleeping\u2019: Elon Musk Drags Biden After Historic SpaceX Mission)<\/a><\/strong><\/p>\n<p>\u201cElon Musk has a uniquely informed insight into the global economy,\u201d Morgan Stanley analyst Adam Jonas said, according to Reuters. \u201cWe believe that a message from him would carry high credibility. If the world\u2019s largest EV company warns on jobs and the economy, investors should reconsider their forecasts on margins and top-line growth.\u201d<\/p>\n<p>At Friday\u2019s address, the president <a href=\"https:\/\/dailycaller.com\/2022\/06\/03\/joe-biden-downplays-recession-fears-may-jobs-report\/\" target=\"_blank\" rel=\"noopener noreferrer\">touted<\/a> the creation of 8.7 million new jobs since he assumed office in January 2021. He tried to ease people\u2019s fears about a recession by touting a \u201chealthy economy\u201d through rising wages and job creation.<\/p>\n<p>\u201cWe aren\u2019t likely to see the kind of blockbuster job reports month after month like we had over this past year, but that\u2019s a good thing,\u201d Biden said. \u201cThat\u2019s a sign of a healthy economy, with steady growth, rising wages for working families, everyday costs easing up and shrinking the deficit. That stability puts us a strong position to tackle what is clearly a problem: Inflation.\u201d<\/p>\n<p>The country has been hit with 40-year record high <a href=\"https:\/\/dailycaller.com\/2022\/06\/01\/yellen-inflation-treasury-cnn-blitzer\/\" target=\"_blank\" rel=\"noopener noreferrer\">inflation<\/a> that has contributed to <a href=\"https:\/\/dailycaller.com\/2022\/05\/30\/gas-prices-hit-another-record-high\/\" target=\"_blank\" rel=\"noopener noreferrer\">gas prices<\/a> exceeding $4 per gallon and a high cost of living for Americans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden dismissed Elon Musk\u2019s concerns about an upcoming recession at a Friday event amid the tech billionaire\u2019s calls to cut 10% of Tesla\u2019s employment.Musk told company executives Thursday<\/p>\n","protected":false},"author":198,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1502609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1502609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/198"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1502609"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1502609\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1502609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1502609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1502609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}