Date: 2023-07-06T15:34:52Z Creator: Bitfolio Academy
Elon Musk’s disbelief of the very positive economic numbers by the Department of Commerce sparks a wave of controversy. Musk doesn’t believe the latest economic numbers, and declares that we’re already in a recession. Refuting these “too good to be true” numbers, Musk insists that his experience as CEO of Tesla, Starlink and Twitter give him an intuitive feel for the current state of the economy. Furthermore, he warns of impending disaster if the Fed continues to keep hiking interest rates.
Yet Nobel laureate Paul Krugman dismisses Musk’s suspicions as nothing more than economic conspiracy theories. The economy grew by 2% in the first quarter of this year, and it certainly did not shrink. And, Krugman calls Musk a “recession truther,” who refuses to believe the positive economic numbers.
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