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Economist Warns That Elon Musk Is About to Cause a "Deep, Deep Recession" (lemmy.blahaj.zone)

submitted 2 days ago by florencia@lemmy.blahaj.zone to c/whitepeopletwitter@sh.itjust.works

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Source: https://bsky.app/profile/jrothst.bsky.social/post/3liin7up3ck2z

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[–] boonhet@lemm.ee 1 points 8 hours ago (1 children)

Probably realized he can't sell a lot of those anymore.

He could sell a bunch of Tesla stock, crash the entire US economy and then buy a whole lot of whatever he wants because everything will be discounted (including Tesla, he could just rebuy his stock for a fraction of the price)

Rich people LOVE economic downturns. Best time to make money is when everything is on sale, just need to buy and wait. Stocks, property, everything.

[–] Professorozone@lemmy.world 1 points 7 hours ago (1 children)

Because he can't buy whatever he wants now?

[–] boonhet@lemm.ee 1 points 7 hours ago (1 children)

He can, but if stocks fall 90%, he can buy 10x as much. If he shorts things on the way down, he can multiply his money first too.

If this is played right, he could be worth tens or hundreds of trillions a decade or 2 from now.

[–] Professorozone@lemmy.world 1 points 7 hours ago

I believe that's what he's going for.