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Economist warns that Elon Musk is about to cause a "deep, deep recession" (futurism.com)

submitted 5 months ago by MicroWave@lemmy.world to c/economics@lemmy.world

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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.

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[–] apfelwoiSchoppen@lemmy.world 57 points 5 months ago (1 children)

This guy is going to cause a shitload of poverty and death. He need to go.

[–] boonhet@lemm.ee 9 points 5 months ago* (last edited 5 months ago)

Well yea, but he's gonna make a fuckload of money during the process and so are his rich friends, so really, it's way better than the alternative, which was electing a woman who ran a mediocre campaign.