Originally published at: https://peakprosperity.com/the-trump-musk-war-and-the-coming-economic-crisis/
Today, I’m diving into the recent public spat between Elon Musk and Donald Trump, and what it portends for our economy and our country. Spoiler alert: Nothing good.
It all started when Elon Musk publicly criticized a massive congressional spending bill, calling it a “disgusting abomination” due to its wasteful spending. This was on June 3rd, and his tweet got 19 million views. Musk’s frustration was palpable, especially after enduring media attacks for his fiscal conservatism.
Trump responded by suggesting Musk’s criticism was personal, tied to potential cuts in EV mandates that could affect Tesla. However, Musk had consistently supported the elimination of EV subsidies, contradicting Trump’s claim. The situation escalated when Musk dug up old tweets from Trump criticizing government spending, highlighting Trump’s apparent hypocrisy.
The feud took a darker turn when Musk hinted at Trump’s involvement in the Epstein files, a claim that, if true, could have significant implications. This back-and-forth has left me questioning whether our political leaders are worthy of the title.
Based on the apparent lack of adult supervision in DC, here’s what I see unfolding:
1. Unstoppable Government Debt Cycle: The U.S. seems set on a path of continuous debt accumulation until it inevitably breaks. The entrenched interests, or the “deep state,” appear too powerful to dislodge, and any attempt to address this issue seems to be met with resistance or failure.
2. Incoherent National Energy Policy: We’re nearing peak oil and gas, yet there’s no coherent strategy to manage this transition. This lack of foresight could lead to electrical grid instability in the near term, and severe economic and societal disruptions over the long term.
3. Lack of Political Will: Trump’s approach of surrounding himself with loyalists rather than allies (or truthtellers) means there’s little chance for bipartisan solutions to these critical issues. This divisiveness only serves to weaken our ability to tackle these problems head-on.
4. Foreign Relations: Allies might pull back, waiting out this period of uncertainty, which could further isolate the U.S. on the global stage. China is already playing it cool with the US.
5. Need for a Third Political Party: Given the current political landscape, I believe there’s a growing necessity for a third party. Over 80% of respondents in a poll by Musk agreed, indicating widespread dissatisfaction with the current two-party system.
In conclusion, this Musk-Trump war isn’t just about personal grievances; it’s a symptom of deeper systemic issues. The lack of accountability, the inability to address critical national problems, and the political infighting suggest that, without a significant change, like the emergence of a viable third party, the United States is on a trajectory towards economic and possibly societal ruin. In other words, given our many looming predicaments, we desperately need seasoned experts, diplomats, and elder statesmen brimming with wisdom. Yet we have the opposite.
For my subscribers, I delve into the economic crisis that’s looming, not as a possibility, but as an inevitability. Stay informed, stay prepared. Until next time, keep your head on a swivel.
