Elon Musk has warned that Democrat President Joe Biden and his administration are leading America toward becoming a socialist state like Venezuela.
Speaking during a Monday conference, Musk took the extraordinary step to warn Biden not to turn America into Venezuela with reckless spending policies.
“I mean, the obvious reason for inflation is that the government printed a zillion amount of more money than it had, obviously,” Musk said during the All-In Summit.
“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.
“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.
“Various countries have tried this experiment multiple times,” Musk warned.
“Have you seen Venezuela?
“Like the poor, poor people of Venezuela are, you know, have been just run roughshod by their government.
“So obviously you can’t simply create money.”
Musk continued by calling out Biden for relying on a teleprompter during public statements.
“The real president is whoever controls the teleprompter,” Musk said.
“The path to power is the path to the teleprompter.”
“I do feel like if somebody were to accidentally lean on the teleprompter, it’s going to be like Anchorman,” Musk said in reference to the movie featuring bumbling anchor Ron Burgandy.
“This administration doesn’t seem to get a lot done.
“The Trump administration, leaving Trump aside, there were a lot of people in the administration who were effective at getting things done.”
He's 💯 correct 👇
Elon Musk slams Biden: 'The real president is whoever controls the teleprompter'
Musk also warned that if US ignores 'obvious' cause of inflation, it could end up like Venezuela.https://t.co/Xtdi2vtoZJ— ❌Aurora Tracy❌ (@auroratracy0621) May 17, 2022
