It’s not every day that we witness an interview between two of the most influential figures in our times – Elon Musk and Donald Trump. This conversation was initially delayed due to technical issues, but once underway, it was an insightful discourse covering a wide range of topics from the recent assassination attempt on Trump, immigration and foreign policy, to the economy.
Musk’s Take on the Economy
Musk expressed concern over what he described as rampant government spending, which he claims has led to inflation and a high cost of paying interest on public debt. He proposed the idea of serving on a “government efficiency commission” to ensure taxpayers’ hard-earned money is spent wisely. He stated, “ensure that the taxpayer money, the taxpayers’ hard earned money, is spent in a good way. And I’d be happy to help out on such a commission.”
Trump responded positively, expressing his interest in having Musk on such a committee. It’s worth noting that the federal government spent $6.13 trillion in fiscal year 2022.
Government Regulation and Inflation
Musk went on to discuss the role of excessive government regulation in persistent inflation. He suggested that sensible deregulation could potentially lessen the burden of inflation.
Musk’s Political Involvement
Interestingly, Musk has recently endorsed Trump, following the failed assassination attempt. Reports suggest that Musk has been financially supporting the former president’s re-election campaign, with the Musk-supported America PAC pledging millions in Trump’s support. Musk’s involvement in politics has grown significantly in the past few years, and he now stands as a significant supporter of Trump, an unexpected development given Silicon Valley’s history of Democratic support.
However, Musk’s support for Trump doesn’t align perfectly with his electric vehicle business interests. Trump has been openly hostile towards electric vehicles and has expressed plans to end subsidies for such vehicles, which would impact Tesla’s sales. Despite this, Trump has recently shifted his stance, stating that he had “no choice” but to support electric vehicles since Musk endorsed him.
The State of the Economy
The conversation between Musk and Trump reached a dramatic point when they both expressed concern over the possibility of a world war and its implications on the global economy.
Technical Difficulties
The interview, however, was not without its technical glitches. Musk believed that X, the platform used for the interview, was under a massive DDOS (distributed denial of service) attack. This type of cyberattack disrupts normal service to a website. Fortune was not able to independently verify if X had been the victim of a cyberattack.
Trump’s Presidential Campaign
The interview not only provided insights into Musk’s thoughts on the economy and government spending but also highlighted the challenges faced by Trump’s presidential campaign. The campaign has struggled with maintaining a disciplined message and has also faced issues with the revelation of his vice-presidential nominee, Ohio Senator JD Vance. On the other hand, his opponent, Vice President Kamala Harris, seems to have energized the Democratic base.
In the light of all these factors, the political battleground is continuously shifting, making the upcoming elections all the more intriguing. Stay tuned for more updates on this dynamic political landscape.
