Elon Musk Sends His Condolences to US Economy

News
Fri, 04/10/2020 - 08:40
Yuri Molchan
The Tesla and SpaceX CEO basically tweeted that the US economy is about to get pretty screwed up
Cover image via www.instagram.com

Elon Musk has posted a tweet with an astronaut standing on the Moon watching a meteorite hitting the Earth and then flying through it in a cloud of fire. 

The CEO of Tesla and SpaceX, one of the most famous entrepreneurs of the modern world, might be sharing his take on the consequences of the coronavirus pandemic and the fact that the US Fed Reserve is printing another giant sack of USD to support businesses.

Meanwhile, the situation for average Americans is getting worse. Two weeks ago, the number of jobless claims in the US totaled 3.3 mln.

Image via Twitter

Then reports shared figures of 3.2 mln and 6.6. mln again last week. This week, 6.6 mln more people filed their jobless claims.

Image via Twitter

The US Fed Reserve keeps printing dollars and intends to give US citizens government cheques, $1,200 per month, to help them survive in the COVID-19-caused financial crisis.

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Some economists are warning that the US is heading for another Great Depression. The one that happened in 1929-1930 may seem like child’s play next to this one.

Crypto influencers and VC investors, such as Anthony Pompliano, and even some politicians are betting on Bitcoin, saying that it is a good store of value right now.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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