Economist warns that Elon Musk is about to cause a "deep, deep recession"
Economist warns that Elon Musk is about to cause a "deep, deep recession"
A professor economist is warning that unelected billionaire Elon Musk is likely sending the United States headlong into a huge recession.
Summary
Economist Jesse Rothstein warns that Elon Musk’s drastic government job cuts and contract cancellations could trigger a severe recession.
The March employment report is expected to show massive job losses, exacerbating economic uncertainty. Hiring freezes are already hitting universities and other sectors.
Rothstein fears even the government may not yet grasp the full extent of layoffs. Musk acknowledges short-term hardship but claims long-term prosperity.
Critics argue the economic fallout and loss of public services could be devastating.