Moon shot: Biden takes dig at Elon Musk over economic system remarks

President Joe Biden jabbed at Elon Musk’s lunar ambitions after it was reported the Tesla CEO has a “tremendous dangerous feeling” in regards to the economic system.

Following a speech in regards to the state of the economic system, Biden was requested about his ideas on Musk reportedly desirous to slash 10% of his firm’s workforce given the nation’s financial uncertainty.

“, a number of luck on his journey to the moon,” Biden quipped.

Earlier than taking a dig at Musk, Biden responded by mentioning that different corporations are including jobs versus reducing payrolls.

MUSK HAS ‘BAD FEELING’ ABOUT THE ECONOMY, WANTS TO CUT 10% OF TESLA JOBS: REPORT

Biden identified that Ford is growing its funding in electrical automobile manufacturing and including 6,000 new union workers within the Midwest, whereas Stellantis, which owns Chrysler, can be upping its investments within the electrical automobile area. He mentioned Intel is including 20,000 new jobs for making laptop chips.

The feedback got here after Musk wrote an e-mail to Tesla executives through which he expressed his want to chop 10% of the workforce, based on Reuters. Within the e-mail, titled “Pause all hiring worldwide,” Musk described his trepidations about the place the economic system is headed.

Musk, who's the world’s wealthiest particular person, additionally based SpaceX, which is engaged on a lunar lander that can return people to the floor of the moon for the primary time since 1972. There are hopes that astronauts will land on the moon by 2025 on the earliest.

Musk has been a critic of Biden and has focused the president for specializing in different corporations investing in electrical autos regardless of Tesla being the world’s largest producer of the eco-friendly vehicles.

The billionaire, who aspires to personal Twitter, tweeted earlier this 12 months that Biden is “treating the American public like fools.” He additionally branded Biden “a humid [sock] puppet in human type.”

Musk isn’t the one government who's bracing for potential financial malaise. JPMorgan Chase CEO Jamie Dimon warned traders this week to be ready for an financial “hurricane.”

Dimon mentioned the Federal Reserve’s continued rate of interest hikes, mixed with uncertainty surrounding the battle in Ukraine, is inflicting his agency to batten down the hatches.

“, I mentioned there’s storm clouds, however I’m going to vary it … it’s a hurricane,” Dimon mentioned at a Wednesday convention. The financial maelstrom could possibly be “a minor one or Superstorm Sandy,” he added.

The inventory market has additionally been in retreat because the begin of the 12 months, as traders concern the financial results of the speed hikes. The markets have been hit by the battle in Ukraine, which has despatched commodity and power costs by the roof, additional fueling inflation and complicating the Fed’s job.