Democrats found out some bad news.
This is what the left fears the most.
And Elon Musk’s latest prediction just guaranteed Donald Trump’s victory in 2024.
A Twitter user asked Tesla CEO Elon Musk if he believed America was about to enter a recession.
Musk answered in the affirmative citing the trillions of dollars in government spending for the so-called “stimulus” that the government dumped into the economy during the COVID pandemic.
“Yes, but this is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen. Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!” Musk declared.
Another user then asked Musk how long the Tesla CEO expected the recession to last.
Musk answered anywhere from one year to 18 months.
“Based on past experience, about 12 to 18 months,” Musk responded. “Companies that are inherently negative cash flow (ie value destroyers) need to die, so that they stop consuming resources.”
There is ample evidence that America is heading into a recession.
The economy contracted in the first quarter by 1.5 percent.
Two consecutive quarters of negative economic growth is the dictionary definition of a recession, and the United States is well on the way there.
That’s because of inflation.
Inflation is running at a 40-year high because – as Musk noted – Joe Biden rammed a $1.9 trillion blue state bailout bill through Congress that devalued the dollar and overheated the economy.
The looming recession will have political consequences for the 2024 presidential election.
Donald Trump’s all but declared himself running for president.
Joe Biden continues to tell his handlers that he is running for re-election if Trump enters the race.
But the poor economy rendered Joe Biden a toxically unpopular president.
A recent Emerson poll found Biden’s job approval rating sinking to 38 percent.
Not surprisingly, the economy is the biggest drag on that number.
“The survey found Biden’s approval under water, as 52 percent disapprove of his job performance. Notably, most independent voters, 55 percent, disapprove of his job performance as voters choose the economy as a top concern on their lists,” Breitbart reports.
Emerson also found that Donald Trump led Joe Biden in a head-to-head matchup.
2024 National General Election Poll:
— PollTracker (@PollTrackerUSA) May 27, 2022
Jimmy Carter and George H.W. Bush both ran for re-elections against the backdrops of either high gas prices, inflation, or a recession.
Both lost their re-election campaigns in landslides with Carter winning just 41 percent of the vote against Ronald Reagan in 1980 and Bush taking just 39 percent against Bill Clinton and Ross Perot in 1992.
And should Musk’s prediction of a nasty 18-month-long recession come true Joe Biden is likely to share their fate.
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