• About
  • Contact
  • Give
Newsletter
NOQ Report - Conservative Christian News, Opinions, and Quotes
Saturday, March 25, 2023
  • Home
    • About
    • Give
  • News
  • Opinions
  • Quotes
  • Around the Web
  • Videos
  • Podcasts
No Result
View All Result
  • Home
    • About
    • Give
  • News
  • Opinions
  • Quotes
  • Around the Web
  • Videos
  • Podcasts
No Result
View All Result
NOQ Report - Conservative Christian News, Opinions, and Quotes
No Result
View All Result

Elon Musk Predicts “Serious Recession” in 2023, Announces Plans for Twitter and Tesla

by Caden Pearson
December 23, 2022
in News
Musk Twitter Tesla

NOQ Report Is Moving to AmericaFirstReport.com

Elon Musk, the billionaire head of Tesla, Space X, and Twitter, on Thursday predicted a “serious recession” in 2023 and promised not to sell Tesla stock next year “under any circumstances.”

Speaking in a Twitter Spaces audio forum, Musk also assured investors Tesla hadn’t “skipped a beat on execution” since he took over Twitter. Twitter required an initial period of intense focus to get its “insane … costs under control” to stop it from going “flat bankrupt” next year, Musk said.

“I was still doing Tesla work during that time as well, by the way. And I think really Tesla has really not skipped a beat on execution,” he said. “The Tesla team is doing an incredible job across the board in execution.”

Tesla share prices fell further on Thursday over concerns about slowing demand for electric vehicles. Musk’s stock sales and focus on Twitter have also been blamed as a contributing factor, but Musk rejected this on Thursday, blaming the Federal Reserve’s interest rate increases.

‘Won’t Sell Stock’

Musk sold around 22 million Tesla shares between Dec. 12 and 14, valued at roughly $3.6 billion, according to a Securities and Exchange Commission filing. He has sold around $23 billion in Tesla shares since April, with much of the funds going toward his $44 billion acquisition of Twitter.

On Thursday, he promised not to sell any more stocks for the next two years.

MyPillow Summer

“You have my commitment that I won’t sell stock until, I don’t know, probably two years from now. Definitely not next year under any circumstances and probably not the year thereafter,” Musk said.

Musk said he needed to sell some of his stock “to make sure, like, there’s powder dry … to account for a worst-case scenario.” The phrase “powder dry” means to always be prepared to take action yourself. Musk has previously made promises about not selling Tesla stock before subsequently selling it.

Less Focus on Twitter

Once he gets “the engine of engineering at Twitter” humming to ensure the social network can develop new features, Musk expects the social network to take up far less of his focus.

“In the grand scheme of things, the amount of cognitive load that Twitter represents is low. I mean, it is a much simpler problem than Tesla or SpaceX, obviously, by a hundred miles,” Musk said.

Don’t wait for beef to become more scarce. Stock up with the only American company that sells frozen AND freeze-dried beef in the same package. This America First, veteran-owned company is ready to help you eat well today and eat well tomorrow. Use promo code “nocrickets” for 15% off at checkout.

“I’d say it was a high cognitive load for about a month. At this point, it is a moderate cognitive load. A month from now, it’ll be, I think, low,” he continued.

“And if I look back and say, like: ‘What are actions I could have taken? Was there something that I failed to do at Tesla that could have been done and would have improved our execution?’ I literally can not think of a single thing.”

Musk noted that he hadn’t missed a single important meeting at Tesla since taking over Twitter, with both primarily based in the Bay Area of San Francisco.

‘Serious Recession’

The real issue is not how much time Musk might be putting into Twitter versus Tesla; according to the billionaire, it is the Federal Reserve’s “radical interest rate changes” pushing up the price of cars. Musk predicted a “serious recession” next year “comparable to 2009,” with decreasing demand for big-ticket items like vehicles.

With respect to global demand for vehicles, Musk said that interest rate rises push up the costs of both new and used cars, which he noted are mostly bought with leases and loans. He said a decrease in car demand, along with the Fed’s rate increases pushing up the cost of a car, creates a “double whammy.”

“So now you have structural demand, which is obviously going to be lower in a recession, and you’ve amplified the effect of cost of a car because they’re almost all bought with debt, so you get a double whammy, is what I’m saying,” he said.

Policymakers at the Federal Reserve voted at their last monetary policy meeting on Dec. 14 to hike the benchmark federal funds rate by 50 basis points to a target range of 4.25–4.5 percent, the highest level since late 2007. It was the seventh consecutive rise since March, totaling 425 basis points.

Fed Chair Jerome Powell said at a press conference after the meeting that the fight against inflation has a long way to go. Most officials expect rates to rise over 5 percent next year, which is more than originally predicted.

“I wouldn’t see us considering rate cuts until the committee is confident that inflation is moving down to 2 percent in a sustained way,” Powell said.

‘Hard Landing’

Musk rejected the idea that his political tweets are having an impact on Tesla share prices, contending that automotive demand is “problematic almost anywhere in the world” and “not everywhere cares about my political comments.”

“I really just don’t think this is a significant factor,” he said.

In Musk’s opinion, the U.S. economy is already in a period of deflation, and the Fed’s predictions are based on old data.

The Wellness Company

“The thing that I think most people don’t realize is how—I sound like a broken record on this—how big of an impact the Fed rate level is, at over 5 percent, if we are in a deflationary environment, which I think we are in,” he said.

“Objectively, we are,” he added.

Musk said it was “blowing my mind” that the Fed has raised rates to their current level, and said he believes that they are “dealing with old information.”

“The economy right now is like a car driving around on a cliffside road, and the Fed is driving it by looking out the rearview mirror,” he said. “In fact, it’s not even looking out the rearview mirror. It’s looking at a video taken out of the rearview mirror that’s like three months old. So obviously, this is not a good way to drive a car on a windy road.”

“Nations, states, and central banks are quietly but rapidly shifting their money to precious metals. With bank runs, recession, CBDCs, and worse on the horizon, it’s easy to see why. NOW is the time to learn more about moving portions of your retirement or wealth to a self-directed gold and silver IRA through an America-First, Christian precious metals company.” – JD Rucker (not a financial advisor, just a guy who’s paying attention)

The Epoch Times has contacted the Federal Reserve for comment.

“Nations, states, and central banks are quietly but rapidly shifting their money to precious metals. With bank runs, recession, CBDCs, and worse on the horizon, it’s easy to see why. NOW is the time to learn more about moving portions of your retirement or wealth to a self-directed gold and silver IRA through an America-First, Christian precious metals company.” – JD Rucker (not a financial advisor, just a guy who’s paying attention)



They’re Trying to Shut Us Down

Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.

For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We have a Giving Fuel page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.

Thank you and God bless!

JD Rucker

Covid variant BA.5 is spreading. It appears milder but much more contagious and evades natural immunity. Best to boost your immune system with new Z-Dtox and Z-Stack nutraceuticals from our dear friend, the late Dr. Vladimir Zelenko.

Why We “Moderate” a Commentor’s First Post

Tags: EconomyElon MuskLederecessionTeslaThe Epoch TimesTop Storytwitter
Previous Post

J6 Final Report Flops, as Inquisition’s Star Witness Cops to Major Lies

Next Post

Was Obama the Architect of the FBI and Big Tech Illegal Censoring Machine?

  • They are not on your side says:
    December 23, 2022 at 11:01 am

    It’s on purpose.

  • Daniel says:
    December 24, 2022 at 1:57 am

    To all the people hawking gold? Explain to me this; in the past year central banks have been buying gold at a furious rate. Unprecedented in history, yet the price hasn’t gone up one dime. WHY IS THAT?

  • Bypass Big Tech Censors



    My Shows

    The JD Rucker Show (Rumble)
    The JD Rucker Podcast (Apple)
    America Out Loud (M-F 8pm ET)
    America First Report (Substack)
    The Late Prepper (Substack)
    End Medical Tyranny (Substack)

    Our Sponsors

     
    MyPillow Promo Code

    MyPatriotSupply

    Z-Stack Life

    Precious Metals

    Bypass Big Tech Censors

    RSS The Federalist

    • New Mexico School Boards Association Administrator: Parents Have No Rights In Public Education
    • When It Comes To The Left’s Radical Agenda, No One Is Safe
    • Missouri’s Attorney General Sues To Remove Soros-Funded Crime-Enabling Saint Louis DA
    • Why Classics Like ‘Casablanca’ Hold Up And Modern Schlock Doesn’t
    • You’ve Probably Never Been ‘Woman Of The Year,’ But These Men Have

    RSS The Blaze

    • Female officer says she was pressured into oral sex with coworker, cops took bets on who would have sex with her first
    • Idaho governor signs legislation allowing firing squad executions
    • 6-year-old boy found locked in dog cage; 2 partially clothed girls found crying in the rain; parents arrested
    • Biden issues warning to Iran after drone strike injures military personnel, kills U.S. contractor
    • Moment Aiden Fucci,16, learns he will spend the rest of his life in prison for stabbing 13-year-old cheerleader Tristyn Bailey 114 times to death

    RSS PJ Media

    • Ms. Raichik Goes to Washington: Libs of TikTok Creator Visits AOC’s Office Over Rep’s Lies
    • Can Israel Survive?
    • Was He Looking for a Job From Biden? 65-year-old 'Baby' Busted for Stealing Diapers
    • It's Earth Hour Tonight. Please Make Sure to Turn On Every Light You Own
    • Ray Epps' Lawyer Threatens Tucker Carlson: 'You Didn't See What You Saw on J6 Video — or Else'

    RSS National File

    • French Protesters Stand Up Against Globalism and NATO Warmongering
    • Irish Protesters Block And Turn Around An Invasion of Bussed-In Migrants
    • Joe Biden Cheers For China Instead of Canada in Humiliating Gaffe
    • Virginia: GOP Candidate Tim Griffin Ineligible to Run for Office Under State Law
    • Dennis Prager Says Bisexuality is ‘The Norm’

    RSS Townhall

    • Greta Thunberg Sees a Great Capitalist Conspiracy Against the Climate
    • Xi and Vlad, a Wake-Up Call for America and the West
    • Bullies Rule Under Woke Discipline Policies
    • Europe Extends Sanctions Against Iran
    • The P-8 Poseidon Is Increasingly Important for the Defense of Our Nation

    RSS RedState

    • Hunter Biden Reportedly Fears White House Will Throw Him Under the Bus to Protect Biden Administration
    • WATCH: Sen. Kennedy Wrecks Janet Yellen, WH During Grilling on US Economy
    • Turns out the FBI's ‘Counterterrorism Investigations’ Into Parents Protesting Indoctrination Went Nowhere
    • National Medal of Honor Day: Remembering Staff Sergeant Nicky Bacon
    • Democrats Melt Down Because Trump Held a Rally in Waco
    • About
    • Contact
    • Give

    © 2022 NOQ Report

    No Result
    View All Result
    • Home
      • About
      • Give
    • News
    • Opinions
    • Quotes
    • Around the Web
    • Videos
    • Podcasts

    © 2022 NOQ Report

    Session expired

    Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.

    >