by Brian Shilhavy, Health Impact News:
In a report covered in the corporate news this week, but not in the alternative media that I have seen so far, Elon Musk has predicted that there will be a stock market crash with “hardship” and “economic turmoil” after the elections, even if Trump wins.
Elon Musk predicts ‘hardship,’ economic turmoil and a stock-market crash if Trump wins
Musk’s shocking austerity message is an unusual one to send voters a week before what is likely to be a close election
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The word “bombshell” has been so grossly overused for so long that it is guaranteed to make anyone’s eyes roll. But what other word fits?
With just a week until the presidential election, Donald Trump’s close ally and major economic adviser Elon Musk is warning supporters to expect economic chaos, a crashing stock market and financial “hardship” — albeit “temporary” — if Trump wins.
It sounds so extreme that Trump fans must either wonder why he had been so foolish as to say the silent part out loud, or maybe hope that the whole story is made up — “fake news.”
But it’s very real.
Billionaire Musk, Trump’s would-be budget-cutting and government-efficiency czar, also says there will be “no special cases” and “no exceptions” when he starts slashing federal spending after Trump takes office.
And he predicts he will need “a lot of security” personally because of the likely reaction to his policy moves.
Speaking Tuesday on a “telephone town hall” with supporters, Musk promised deep federal budget cuts, austerity and economic pain ahead in a new Trump administration.
“We have to reduce spending to live within our means,” Musk said. “That necessarily involves some temporary hardship, but it will ensure long-term prosperity.”
Describing government spending as “a room full of targets,” Musk said: “Like, you can’t miss. Fire in any direction, and you’re going to hit a target.”
He said, “I think once the election takes place we’ll immediately begin looking at where to take the most immediate action.”
And, he added, “obviously a lot of people who are taking advantage of the government are going to be upset about that. I’ll probably need a lot of security.”
“Everyone,” he said, will be taking a “haircut.”
Yikes.
Trump has already said he wants Musk to head up a commission on government efficiency. Trump says the billionaire tech entrepreneur would be his “Secretary of Budget-Cutting,” implying a possible cabinet position.
Musk himself has described his prospective role as running a “Department of Government Efficiency,” though he admits the title is an inside joke — the acronym spells DOGE, the name of a cryptocurrency he has referenced often over the years.
Musk’s shocking austerity message is an unusual one to send voters a week before what is likely to be a close election. (Full article.)
Musk has invested heavily in the Bitcoin rival, Dogecoin, recently, even suggesting that Tesla could start taking payments in Dogecoin earlier this year.
Dogecoin started out as a joke when it was created, but it is no joke today with Musk’s backing.
Tesla Inc. CEO Elon Musk has long been a proponent of Dogecoin (DOGE), first posting about the project in 2019, saying, “Dogecoin might be my fav cryptocurrency. It’s pretty cool.”
At the time, the project was still relatively unknown, so it took a handful of other posts and a larger crypto bull market for DOGE to truly take off.
The token went viral, creating millionaires and making waves in the press. In 2021, the token reached an all-time high of $0.7376. While it sold off after that, it is starting to see a resurgence in 2024.
This resurgence was fueled by comments Musk made earlier this week. The Tesla CEO was visiting the Berlin gigafactory, which recently reopened after an arson attack. During a Q&A, someone in the audience asked Musk when they could buy a Tesla with Dogecoin.
“At some point I think we should enable that,” Musk said. Musk then repeated the DOGE catchphrase “Dogecoin to the moon,” which raised a cheer from the crowd.
Musk also went into detail about why he began supporting and endorsing DOGE in the first place.
“The reason I ended up sort of endorsing Dogecoin is that when I was walking around the factory at Tesla, some people asked me to support Doge,” he said. “Then, at SpaceX, some regular guys said, ‘Can you support Doge?’ and I was like, ‘Doge is the people’s crypto, so I will support it.’” (Source.)
When Elon Musk mentioned Dogecoin at the Trump Madison Square rally last week, and linking it to the acronym of his alleged new position in a Trump administration (Department Of Government Efficiency), the value of Dogecoin soared.
Dogecoin enjoys bump after Elon Musk boosts the crypto at Trump rally
Tesla CEO Elon Musk’s campaign rallies endorsing Donald Trump appear to be boosting several meme coins, including Dogecoin, the world’s eighth-largest cryptocurrency.
For example, Musk’s decision to speak about D.O.G.E. – the Department of Government Efficiency, which does not yet exist – at a rally for Trump in New York City’s Madison Square Garden sent the price of the popular meme coin Dogecoin soaring.
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