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Economist warns that Elon Musk is about to cause a "deep, deep recession" (futurism.com)
submitted 3 days 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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[-] earphone843@sh.itjust.works 112 points 3 days ago

That's the point

[-] horse_battery_staple@lemmy.world 61 points 3 days ago

Yup, this is late stage capitalism working as intended

https://naomiklein.org/the-shock-doctrine/

[-] apfelwoiSchoppen@lemmy.world 55 points 3 days ago

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

[-] boonhet@lemm.ee 8 points 2 days ago* (last edited 2 days 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.

[-] Hobbes_Dent@lemmy.world 32 points 3 days ago

The Great American Depression, as the world will write it. Or The Great Patriotic Bootstrapping Because Of The Gays Browns Women as they’ll teach in American Sunday through Monday schools.

[-] shadowDingus@lemmy.dbzer0.com 5 points 2 days ago

Let's work to change that; I suggest "The Fall of Facist America", and we can start by felling facist America!

We can band together and write a better history!

[-] DirkMcCallahan@lemmy.world 12 points 3 days ago

c/noshitsherlock

[-] werefreeatlast@lemmy.world 10 points 3 days ago

Dick Cheney (from below ground), Turtle neck guy and all the rest of the clowns in the Republican team are going "holy fuck!" as Elon basically eats their lunch. Elon has been extremely efficient at Republican asshole. The rest don't even know what the fuck is going on.

[-] Tillman@lemmy.world 5 points 2 days ago

I’m a subscriber (via work) to that shit rag and they wanted trump so bad during the election.

[-] paraphrand@lemmy.world 4 points 3 days ago

Well, I guess the person(s) who make the unemployment report are next to be visited by doggie.

this post was submitted on 20 Feb 2025
294 points (100.0% liked)

Economics

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