Musk found bogus fraud. Its an excuse now for him to gut it. Maga are fucking gullible. No investigation, no evidence, no proof, nothing but his crooked word.
How will we eat the rich?
“To the pain means the first thing you will lose will be your feet below the ankles. Then your hands at the wrists. Next your nose. The next thing you will lose will be your left eye followed by your right…
Your ears you keep…”
The turd who took both scholarship funding for an education and taxpayer dollars to fund his dreams, highlights his value judgements of others work & public service in America.
I want a national poll on how many Americans want him sent to whatever country is willing to take him at this point.
Also, when you are so deeply, deeply stupid about your ideology that you don't actually understand that the numbers you want to distort won't actually matter in how people feel about the economy
1. He was in an environment where other people were doing things and he copied that. Created a software index of addresses. Infrastructure for other businesses.
2. Sold that for a huge amount of money. Right time, right place.
3. Used the $$ to buy other businesses. Like a hedge fund guy. That's it.
He won’t just crash the economy, there’s a real risk planes will too. He’s gutting the FAA/Verizon system, firing those who keep it running, all to manufacture failure and "prove" government is broken. Paving the way for Starlink to take control.
Government spending on programs, like Spaceecks employ thousand which is a benefit to the economy and generate hundreds of times more in GDP growth than giving it to Billionaires to Off-shore it.
So, you illegally dismantle govt agencies. Then you realize that all of those billions of “savings” are (of course) counted in the GDP. Then claim the GDP should be reported differently. Holy 💩, we’re so screwed.
Musk does not understand the economy. He is an oligarch who is only interested in his own wallet. Tesla is tanking but why should he care? He in enriching himself on the backs of the American taxpayers. Lying about crises they are creating themselves and then pretending to come to the rescue. Resist
Is this like one the the southern states where the representative said if we removed black women from the statistics, the maternal mortality is extremely low. (I forget which state.)
Errol Musk questions his son's ability to work in politics and says that he lacks the breadth required to navigate the corridors of power.
"Elon is a terrible speaker. I know he struggled to get through his little speech as quickly as possible and tried to look as charming as he possibly could.
So how many hardships are the rich dealing with? Broke your fingernail on you Mazarati car door? Did your indoor pool drop a degree? Did the maid forget to rub your face with caviar? Was your private jet not properly dusted? Sounds awful!!
Yep, what he didn't mention with his "little hardship" comment, was that people would lose their jobs, healthcare, food stamps oh and lets not forget some will even lose their lives.😔
Jeez, Muskrat is fucking stupid. Excluding government spending from the GDP is the one thing you CANNOT do, and one of the big reasons a government is NOT the same as a business and cannot be run the same way. Government spending is stimulus; it needn't make a profit; IT serves US.
Wait... What does he think people at the DMV actually do? Does he think they work on cars? There is such an epic gulf between the skill sets required of those who work office jobs and those that work in manufacturing.
Just one of the stupidest examples he could choose.
Elon, you're so full of shit, you stink just like dRumpf. When did you become an economist? You're a megalomaniacal sack of shit who knows absolutely nothing except how to wreak havoc in service to yourself and no one else. I hope you drop dead!
Oversimplification perhaps but GDP basically states money was exchanged, in a certain geographical region. It makes no statement by itself who benefits from the exchange, nor what it was even for. Passing money back and forth in a loop raises GDP.
fElon Musky is not an economist. He's not a programmer or a developer. He's not a technical wizard. He's a loudmouth with a lot of digital money. He didn't create Tesla.
A typical tactic of a failure as a chief executive; if the numbers are bad, change the way a key metric is measured. Perhaps the Tesla board will want to take action before they are selling cars at auctions.
From what I have been reading he is hated around the world not just in North America. He and Trump should leave and go run a small island somewhere and leave this country alone.
It's been bouncing around the same 30 to 35% of GDP range since 1980, with the exception of a couple blips when the gdp denominator collapsed due to large recessions.
Has anybody sat down and analyzed the number and frequency of the messages that Musk posts on X? From my casual observation, he is posting nearly all the time around the clock — proving that he is doing NO actual work. Not for DOGE, not for Tesla, not for X, not for SpaceX.
He’s also just substantively wrong here. If you move people from car production to the public sector, you increase G but you decrease C. Including government consumption isn’t some trick it’s just accounting for real employment of resources.
Also, this has nothing to do with Musk chainsawing government spending. This revision was apparently solely due to Americans importing vastly more products in anticipation of Trump's tariffs.
Also, we need people working at the DMV to get our drivers' licenses or register our cars. The "DMV is a miserable place" meme is about *not having enough people working there* to serve everyone who needs it at a reasonable pace.
Wisconsin DMV/DOT also has always been smooth for me and many services can be completed online or you can view an online wait time to pick your time to go. Probably wouldn't be as smooth if the state laid off half the employees like the feds are doing with SSA.
Someone should explain that government workers BUY things with their salaries. And that when the government procures equipment or supplies, they pay a private company for them, who then pay their employees who then buy things. But I’m sure Musk knows that, because it’s how he plays his employees.
“All your balance sheets and trends, they work with numbers, not with men. And all the goddamn heat you talk ignores the trade the Polish brought. Ignores the ones they buy stock from, accountants, builders, on and on.”
And he often doesn't even pay those employees. Or lawyers he hires. Or the landlord that owns the Twitter HQ building. Or the payouts of the multiple lawsuits he lost. Or the fines faced by the rockets he blew up over protected nature reserves. Or...
Even if it were true that federal government employees do nothing of value and just collect a paycheck - and it isn't- the large number of stable middle class jobs it provides stimulates the economy because they can buy things.
OK, true. But almost everything the government does makes peoples lives better. All the infrastructure that it funds that is then used by businesses. And everyone else. Clean water, roads, firefighters.
One might even contend that the continued existence of a (non-totalitarian?) government means that it's more or less succeeding at making its constituents's lives better. NA political economist.
Or where that money (cash) goes. It mostly goes into businesses. It's real cash money, not equities. So it is flowing into the economy, with a huge economic multiplier. This isn't going to be a recession. This is going to be a huge crash and depression.
Okay Elon, when the government gives a company money to, say, build a rocket, is that government spending or not government spending? Does the answer change if the government gives that money directly to the people building the rocket as government employees? Why or why not?
He's trying to articulate what some other hack just told him. He's like every Jr. High kid telling the adults that they don't know what they are talking about.
If you’re an ideologue whose project is to remake the world int your idea of The Good™️, the details matter. You have to understand the systems you’re changing & be ready for blowback. If you think the world works exactly how you think it does in a literal sense, you’re fucked.
I say this as an ideologue. I have a clear vision of what I think The Good™️ is. If I had power, I would use it to bend the world in that direction. But I wouldn’t be stupid enough to go but…but…but… my stupid concepts when clearly theory is hitting reality.
Some rough “I’m not an economist” math I did the other day: taking $1T out of the economy is about a 3.7% drop in GDP. And that doesn’t include any of the multipliers.
If the dude spent 99% less time shitposting, that would free up time for him to actually learn about the complex systems he is trying to (being charitable here) "manage." If he knew how to manage, he wouldn't change a damn thing for months, listen to experts, and build consensus for the changes.
This is a complete moronic take. Included in government spending is government contracts. And it would take an absolute idiot to believe that government contracts have zero effect on the economy or GDP
Elon’s just so smart, though. I mean of course subjective value judgements are a better way to measure GDP than the “artificial” dollar value of goods and services. What were we thinking?!?
This is what happens when you think we live an an economy constrained by the loanable funds theory. This is a classic mistake made by people who read Ayn Rand and Milton Friedman.
I was also thinking about this re: "yeah we are firing people but we are also promoting people who are excellent." Um, are you promoting them with no reference to their potential competence in the new job?
He said that there would be short term pain as a result of actions they were taking. It was very clear. Economists said Harris’s policies were better for the economy. This isn’t surprising. It’s a shame.
Anyone who has ever been to a DMV knows more employees would be a good thing. And you shouldn’t be thinking about building cars, Elon, because yours ain’t selling. I’m sorry to admit I own a 2017 one. Related: Tesla has the worst customer service EVER: makes the DMV feel like a spa. #FascismIsCringe
There will also be a lot of "Trump just took office, he couldn't possibly have caused this recession that fast, this is Biden's fault".
The counter is all Trump/Musk's proudly immediate and drastic actions, tens & soon hundreds of thousands out of work, planes falling out the sky, it's all visible.
He's also lying. The forecast revision is mostly related to trade (huge reduction in net exports) and also consumer spending. Government spending changed from 0.35 to 0.34.
To be fair, I can believe that he’s innocently wrong here because 1) a lot of other, anti-Trump people have similarly jumped to the conclusion that this is a result of the government cuts and 2) there’s little reason to think that Musk is especially well-informed about the US economy & its data …
Yeah, I'm sure he has no real clue about the breakdown of the forecast. It clearly breaks down the contributions to GDP by category, and explicitly includes government spending as one of those categories. But he also knows that 90% of his followers wont know/care, so he says whatever he wants.
Also, he did clearly state his “government cuts will cause deep recession, and that’s good” thesis right before the election. He can’t be accused of having tried to deceive voters (at least on that part). https://bsky.app/profile/mbdrapier.bsky.social/post/3liv6gw7nkk2h
Very fair. I would hope that he would at least look at the forecast before drawing a conclusion, especially because he has all these sycophantic followers who hang on his every word, but this is Elon we’re talking about.
Elmo knows nothing about Economics. He’s using ChatGPT or an underling to write seemingly intelligent posts. He has a bachelors in physics…and that is all.
A total set up by traitor Trump that backfired.
Putin's lapdog got his ass handed to him by President Zelenekyy in public WORLDWIDE!
The free World is calling idiot Trump out!
As if government spending doesn’t impact the entire economy. He’s so dumb. It cannot be extracted. A car plant closing down impacts the whole area, not just the people employed by the car factory. Stop trying to tell me he’s a genius.
I’ve taken literally one semester of Econ, GDP includes government spending. The government buys finished products and the people who work for the government have jobs and require goods and services. Does the richest man in the world literally not understand freshman level economics?
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So to moron Elon when you buy something that helps someone and if he can give me an example of somebody selling a product and no body benefits I will kiss his ass.
Oh, he knows he , as usual, is insulting Americans and conning ignorant MAGA.
It will work as Trump worshipers need any excuse to attempt to hide their racism.
He suffers from the SF techbro problem. They are really smart about certain specific things. But they have all deluded themselves into thinking that means they are really smart about *all* things. Wall Street bros do the same thing.
He’s managed to turn accidentally buying twitter into total control of the US government.
Even accounting for the biggest failing upwards of all time, he’s got some street smarts to be able to convince all the rest of the idiots in charge that he’s smarter than them.
He bought it to gain the political power he successfully gained. People need to stop thinking of that as an expensive business mistake. It was an overwhelmingly successful political gambit. But probably not his idea.
Think of it like this: $44B to take over the US government is *cheap*.
I'm consistently reminded of the anecdote where he played poker, went all in every single hand, lost, and just bought more chips. Rinse and repeat until he won a single hand and left the table.
You missed the point. SF techbros are smart about computer programming and/or engineering. That doesn’t make them smart about design or usability (that’s how the cybertruck happened). They aren’t smart about governing. Or lawmaking. Or how governments work. Or how the global system works.
And actually you can't shift people like that because of how jobs are appropriate BY BUDGET IN CONGRESS
Good lord this man knows literally nothing and makes up such shit
More DMV workers in general sounds like a valuable thing - in that processes could take less time and thus less time spent. I'm waiting for a replacement license myself.
[Redacted to avoid messy issues] is the fastest way. But honestly, put an anime waifu pillow in front of him and tell him it's open to growing the human race, and that should do it.
His proposal doesn't make sense. Businesses like money and getting money from gov't (let alone its employees) is still getting money and you can still spend it. If you don't have it, you can't spend it; if you cut jobs and money, lots of people stop buying stuff.
A worldview where taxation has money "taken away" from the "real" and "deserving" part of the economy, instead of being the foundation on which national wealth is even possible. Where demands of the market dictates all, and demands of democracy can be callously discarded.
Even for a rich guy musk is just staggeringly ignorant of how anything actually works in the real world. Look at the example he gives-that shit makes no sense whatsoever.
Ya well Tweeter was worth $44B and since Mush fired everybody X is worth $9B. Good news is Unemployment and inflation are way up and consumer confidence and all the markets are way down. Plan is working as per the concept.
Elon misses the point. He can try to re-define GDP, but the consequences are the same. People out of work. Consumers and businesses unwilling to spend money or invest. "Recession is when your neighbor is unemployed; a depression is when you are unemployed."
So providing healthcare doesn’t make people’s lives better? Working at the DMV means a paycheck to afford the mortgage, food, and utilities. Elon Musk opens his stupid face and confirms his stupidity everyday. I love that his ignorance is being exposed on a global stage.
Hold up here… “people who were building cars can go work at the DMV”. WTAF????? That’s like saying “You are a nurse so you can go work in agriculture instead. Because, you know, you’ll keep plants alive. It’s the same thing isn’t it”???
What an absolute moron who clearly doesn’t know shit.
#FMUSK
Government spending is part of GDP because a government has to spend money during a recession to stimulate the economy and help it escape the recession.
Relatedly, austerity can cause a recession, which is exactly what Trump, Musk, & the republicans are doing.
Oligarchs want all the power and don’t care who gets hurt or killed. Evangelicals want to hasten the Rapture or least have a theocracy until Armageddon. They are a formidable team for destruction and they’re willing to let Trump play the dictator… for now. Don’t give up hope!
Well you've got the records at your fingertips, Opie. So do the math and you'll find GDP still shrinks because nobody wants to do business with the Trump criminal gang.
He doesn’t understand why we measure GDP using the income identity Y=C+I+G+(X-M). It’s not because we picked those items are “important”. It’s because we can measure the amount of PRODUCTION more easily by tracking the SPENDING in $USD on those items. By definition you have to include all. FFS!
It is astounding that anyone can read what this moron writes, or listen to him talk about, well, anything and think Elon is anything but a complete moron. He doesn’t know a damn thing about anything. I hate this timeline.
Looks like the US is now into the moving of the goalposts phase of economics. Unfortunately there are enough uneducated and educated MAGAts that will buy into this utter BS 🐂💩
Peremptorily unskewing the coming recession because you know you messed up at an unimaginable scope is a perfect encapsulation of MAGA malfeasance. My god.
yes and why does it benefit them to drive us into recession? All I have come up with so far is some hedging financial play. They are a house of cards, is the most I can hope for.
The fact that he thinks you make lives better by building cars, and not by feeding hungry children, medical care for veterans, forests that won't burn come August, and a whole host of other things he's cancelled, shows that he's not a fully functioning human. Zero empathy.
We've gone from "Yes, it's positive GDP, but we're in a recession anyway because vibes," to "Yes, it's negative GDP, but it's not a recession because austerity."
Economist predicted before the election that Trump’s policies would drive down the GDP by 1%. I don’t think anyone anticipated the insane and indiscriminate cutting - that probably made it a bigger drop.
Comments
“To the pain means the first thing you will lose will be your feet below the ankles. Then your hands at the wrists. Next your nose. The next thing you will lose will be your left eye followed by your right…
Your ears you keep…”
I want a national poll on how many Americans want him sent to whatever country is willing to take him at this point.
2. Sold that for a huge amount of money. Right time, right place.
3. Used the $$ to buy other businesses. Like a hedge fund guy. That's it.
If it was McConnell, I'd know it is because McConnell thinks the American people are morons.
Drug-addled Elon probably does believe that he can wave his nazi salute and change the definition of Gross Domestic Product.
"Elon is a terrible speaker. I know he struggled to get through his little speech as quickly as possible and tried to look as charming as he possibly could.
“… but I won’t experience any myself”
Just one of the stupidest examples he could choose.
Surely someone with his meritorious intellect is capable of making that argument with real things rather than hypothetical absurdities.
It's the old libertarian claim that a dollar spent by the government will do no more good than if it were literally burnt.
Oversimplification perhaps but GDP basically states money was exchanged, in a certain geographical region. It makes no statement by itself who benefits from the exchange, nor what it was even for. Passing money back and forth in a loop raises GDP.
Of course, he knows absolutely nothing about that.
Why wouldnt gov spending count? If Gov buys desks for offices its doesnt count?
The alleged downturn was 100% due to Tesla. Remove them from the math and there was actually GROWTH in the market.
GDP = C + I + G + (X-M)
How can anyone be this stupid?
https://thehill.com/policy/healthcare/502819-trump-on-coronavirus-if-we-stop-testing-right-now-wed-have-very-few-cases/
Unless you’re the 1%.
Hoard cash. Shop carefully. Research ways to save money. It's about to get rough.
Constantly making people wonder if you are a malevolent ass or just plain stupid is hardly a list of complimentary options.
Muskrat: "A more accurate way of measuring that would be to blame somebody else, and not the person driving the car."
We have a lot of those where I work.
The counter is all Trump/Musk's proudly immediate and drastic actions, tens & soon hundreds of thousands out of work, planes falling out the sky, it's all visible.
Government spending changed by 0.01
https://www.atlantafed.org/cqer/research/gdpnow#Tab3
Putin's lapdog got his ass handed to him by President Zelenekyy in public WORLDWIDE!
The free World is calling idiot Trump out!
Everyone knows the shortcomings of GDP. It's a very rough measure of the overall economy.
Talking in circles like he is just shows how worried they are about it.
It will work as Trump worshipers need any excuse to attempt to hide their racism.
In reality, very few people are true polymaths.
Even accounting for the biggest failing upwards of all time, he’s got some street smarts to be able to convince all the rest of the idiots in charge that he’s smarter than them.
Think of it like this: $44B to take over the US government is *cheap*.
He has money. That's WHY they think he's smart. Because they're either dumber than him or just as greedy and want in.
And that doesn’t explain how such a dummy managed to *take over the United States* without winning an election or using violence.
Don’t underestimate him. Doing so only helps him and hurts the rest of us. It serves no useful purpose.
Good lord this man knows literally nothing and makes up such shit
Man truly is working with two braincells, and both are focused solely on reminding him to breathe.
I’ve seen ZERO proof that he is smarter than I am.
What an absolute moron who clearly doesn’t know shit.
#FMUSK
Econ 101:
GDP = C + I + ***G*** + (X - M)
Relatedly, austerity can cause a recession, which is exactly what Trump, Musk, & the republicans are doing.
new deal? never happened. hitler? not right-wing, a left-wing socialist
they've been in the animal farm zone for a while now
Again, someone ask him why he's not gonna be on the first Starship to Mars.
https://events.pol-rev.com/
All those let go, will ripple out economically
with velocity.
Lucky for him Trump & Vance succeeded in scaring the living shit out of eight billion people by fully morphing into Putin's Sith lords.
(Yes, SW nerds, I know the rule of two, but they're ignoring it like everything else.)
Paying attention to him, in any way, seems absolutely exhausting.