Elon Musk Agrees with Us: A Recession Is Likely

22 Jun 2022

CLAY: The richest man in the world, Elon Musk, says recession is inevitable. Joe Biden claiming that recession is not inevitable. Who’s side you gonna take, the guy who understands business and has built the largest wealth almost in the history of the country or the guy who’s been in government for over 40 years and basically never accomplished anything? Here’s Elon Musk responding to Biden.

CLAY: We agree with Elon Musk. If you had to pick a side to be on, would you rather be with Joe Biden’s opinion on the economy or Elon Musk’s opinion on the economy?

BUCK: So, here’s what’s going on. The Biden administration is hoping that they can bolster sentiment. This is really fingers and toes in the dam as it’s cracking kind of a policy, right? But they’re hoping that they can bolster sentiment just enough that we eke out another quarter or two here without being formally in a recession because the only thing that might drive their political hopes down in the dumps more than the super high price of gas is when everybody has — to because it becomes a definitional issue — use the R-word, “recession.”

When you have people saying… You know what it’s gonna be called? The Biden administration recession. They’re gonna try to call it, you know, the Trump recession or the Biden Transition to Greatness plan or some such lunacy. But it’s gonna be the Biden recession, and we all know it, and I gotta tell you I talked to a friend of mine — I’ll just say it. I talked on air about this yesterday on TV side, Ned Ryun, who is a super…

We’ve had him on the show many times, great guy, super squared away, runs American Majority. And I said; so what are we really looking at here, Clay? He said based on numbers — and he’s plugged in with political consultants and be and he knows how these races are going. Anything that Biden won by 12 to 50 points in 2020 is in play and maybe some outliers of 15 to 20 points, meaning Biden won by 15 or 20 points then could be in play in this midterm, which means I don’t know if we’ve ever seen something like this.

CLAY: Well, to put it in context we just saw a Texas 34th congressional district that Mayra Flores won, it swung by 21 points. So the Democrat congressman won by 14. She won by about seven; so that’s a 21-point swing that kind of could put into a rough outline some of these districts and how they could change.

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