{"id":1525244,"date":"2022-06-21T15:34:03","date_gmt":"2022-06-21T19:34:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1525244"},"modified":"2022-06-21T15:40:57","modified_gmt":"2022-06-21T19:40:57","slug":"elon-musk-splits-with-biden-advisers-says-recession-is-inevitable","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-splits-with-biden-advisers-says-recession-is-inevitable\/","title":{"rendered":"Elon Musk Splits With Biden Advisers, Says \u2018Recession Is Inevitable\u2019"},"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%2Felon-musk-splits-with-biden-advisers-says-recession-is-inevitable%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=1525244&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--><p>Billionaire entrepreneur Elon Musk made it clear on Tuesday that he did not agree with the current administration officials \u2014 including President Joe Biden himself \u2014 who have claimed that a recession was \u201cnot inevitable.\u201d<\/p>\n<p><a href=\"https:\/\/dailywire.com\/news\/i-dont-even-care-if-it-lowers-my-life-expectancy-elon-musk-raves-about-diet-coke-popcorn-and-movies\/\">Musk<\/a> made the comments during an appearance at the Qatar Economic Forum, saying, \u201cA recession is inevitable at some point. As to whether there is a recession in the near term, that is more likely than not. It is not a certainty, but it appears more likely than not.\u201d<\/p>\n<p>The Tesla CEO\u2019s assessment is diametrically opposed to the one embraced by the White House, with President Biden saying as recently as Monday that he did not believe the United States was doomed to face a <a href=\"https:\/\/dailywire.com\/news\/watch-biden-pushes-back-at-reporter-over-recession-warnings-dont-make-things-up\/\">recession<\/a> in the near term.<\/p>\n<p>\u201cEconomists are saying that a recession is more likely than ever,\u201d one reporter prompted Biden, who responded by saying that the question made the reporter sounded \u201clike a Republican politician.\u201d<\/p>\n<p>\u201cNow you sound like a Republican politician, I\u2019m joking, that was a joke, that was a joke.\u00a0But all kidding aside, no I don\u2019t think it is. I was talking to Larry Summers this morning, there\u2019s nothing inevitable about a recession,\u201d Biden said \u2014 but Summers has said on several occasions that he believes a recession is likely coming, and soon.<\/p>\n<p>\u201cLook, nothing is certain, and all economic forecasts have uncertainty. My best guess is that a recession is ahead.\u00a0I base that on the fact that we haven\u2019t had a situation like the present with inflation above 4 percent and unemployment beyond 4 percent without a recession following within a year or two,\u201d <a href=\"https:\/\/thehill.com\/homenews\/3529163-larry-summers-my-best-guess-is-that-there-is-a-recession-ahead\/\">Summers<\/a> told NBC\u2019s Chuck Todd on Sunday\u2019s \u201cMeet the Press.\u201d<\/p>\n<p>Treasury Secretary <a href=\"https:\/\/dailywire.com\/news\/yellen-recession-not-inevitable-russias-war-to-blame-for-soaring-inflation\/\">Janet Yellen<\/a> <a href=\"https:\/\/www.politico.com\/news\/2022\/06\/19\/recession-biden-administration-officials-00040719\">agreed<\/a> with Biden during a Sunday appearance on ABC\u2019s \u201cThis Week,\u201d saying that although she did expect the economy to slow, she did not believe recession was inevitable.<\/p>\n<p>\u201cI expect the economy to slow. It\u2019s been growing at a very rapid rate as the economy, as the labor market is recovered and we reached full employment,\u201d she said. \u201cIt\u2019s natural now that we expect to transition to steady and stable growth. I don\u2019t think recession is at all inevitable.\u201d<\/p>\n<p>Musk, for his part, predicted major upheaval in May \u2014 but he seemed confident that the disruption would bring about a much-needed correction. \u201c[This] is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen,\u201d he <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1529983508206190592\">tweeted<\/a>. \u201cAlso, all the COVID stay-at-home stuff has tricked people into thinking that you don\u2019t actually need to work hard. Rude awakening inbound!\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire entrepreneur Elon Musk made it clear on Tuesday that he did not agree with the current administration officials \u2014 including President Joe Biden himself \u2014 who have claimed that a recession was \u201cnot inevitable.\u201d Musk made the comments during an appearance at the Qatar Economic Forum, saying, \u201cA recession is inevitable at some point. &#8230;<\/p>\n","protected":false},"author":93,"featured_media":1525246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1525244","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\/1525244","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\/93"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1525244"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1525244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1525246"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1525244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1525244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1525244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}