AmiSight 9/21: What Does Elon Musk Have To Say About the Economy
Like most of us, Elon Musk can’t make heads or tails of the economy.
So he's having trouble telling what's up and what's down.
Five months ago, the Tesla CEO warned that inflation was worse than reported.
But last week, he tweeted that another big interest rate hike by the Fed in reaction to August's inflation rate of 8.3 would be an overreaction that could trigger deflation.
As detailed in Fortune.com, Musk's tweet was foreboded at Tesla's annual shareholders
meeting in August, when he reported the cost of most of the commodities and parts that go
into Tesla’s cars would decline in the upcoming six months, predicted inflation rates would drop accordingly, and said he expected only a “mild recession” over the next year and a half.
He also said, "Making economic prognostication is fraught with error."
As he clearly has proven with his comments over the last five months.