Billionaire Elon Musk on Monday slammed President Joe Biden, saying he’s not really in charge.
The Tesla and SpaceX founder also said that inflation could spiral out of control if the U.S. government keeps simply printing money.
“The real president is whoever controls the teleprompter,” said Musk, who added he has voted “overwhelmingly for Democrats.”
“The path to power is the path to the teleprompter,” he said. “I do feel like if somebody were to accidentally lean on the teleprompter, it’s going to be like Anchorman,” the CEO added, referring to the 2004 film in which Will Farrell’s character Ron Burgundy will read whatever’s on the teleprompter.
“This administration doesn’t seem to get a lot done,” Musk said on the “All-In” podcast. “The Trump administration, leaving Trump aside, there were a lot of people in the administration who were effective at getting things done.”
Musk also blasted the Democratic Party as “overly controlled by the unions and by the trial lawyers, particularly the class action lawyers.” The party, he said, goes against “the interests of the people.”
“In the case of Biden, he is simply too much captured by the unions, which was not the case with [former president Barack] Obama,” who Musk said was “quite reasonable.”
Musk also commented on fellow billionaire Jeff Bezos’s assertion that the White House is using “misdirection” to “muddy the topic” of inflation.
“I mean, the obvious reason for inflation is that the government printed a zillion amount of more money than it had, obviously,” Musk said.
Amazon founder Bezos had said: “The administration tried hard to inject even more stimulus into an already over-heated, inflationary economy and only [Sen. Joe] Manchin [D-WV] saved them from themselves. Inflation is a regressive tax that most hurts the least affluent. Misdirection doesn’t help the country.”
Said Musk: “So it’s like the government can’t just, you know, issue checks far in excess of revenue without there being inflation, you know, velocity of money held constant.”
“If the federal government writes checks, they never bounce. So that is effectively creation of more dollars. And if there are more dollars created, then the increase in the goods and services across the economy, then you have inflation, again, velocity of money held constant,” he added.
“If the government could just issue massive amounts of money and deficits didn’t matter, then, well, why don’t we just make the deficit 100 times bigger? The answer is, you can’t because it will basically turn the dollar into something that is worthless,” Musk added. “Various countries have tried this experiment multiple times. Have you seen Venezuela? Like the poor, poor people of Venezuela are, you know, have been just run roughshod by their government.”
Joseph Curl has covered politics for 35 years, including 12 years as White House correspondent for a national newspaper. He was also the a.m. editor of the Drudge Report for four years. Send tips to firstname.lastname@example.org and follow him on Twitter @josephcurl.