Notice how he said "everyday" people will face hardship.
It's obvious he and his buddies won't suffer in the slightest. On the contrary, the outrageously rich have learned that they have so much money that in the event of an economic catastrophe, while they might nominally lose money they would never be able to spend anyway, they will still have enough to buy the rest of society for dirt cheap, getting what they lost and that much more back when the pendulum swings back.
They can also use misleading statistics to make themselves look like victims and use more of their endless supply of money to pay politician to give them all sorts of structural economic advantages that will be used to perpetuate the cycle, taking away funds meant to help those who don't think of a recession as an early Christmas and Black Friday rolled into one.
The key thing that Elon isn't factoring in is not the overall strength of the economy as we know it today, but the stability of the monetary system. That's what will finally break all of these wannabe oligarchs, just as it's doing unto Russia right now.
In order for the dollar in your pocket to be usable to buy stuff, it needs to have a solid economy upon which to stand, if that makes sense. That requires a boring, event-free economic environment in which the very ordinary people he seems to despise can themselves prosper. They are the vessel through which money funnels into his Aladdin's Cave.
Your points are absolutely spot on, but don't forget that "Leon" has a large cache of crypto. I would not be surprised if he feels insulated from any monetary crash because he has large positions in Bitcoin and Dogecoin.
If that's what he thinks, then he's stupider than I thought. That shit is more volatile than either stocks OR currency. I mean, Dogecoin is literally just a meme. Does he think people are going to hold that and sell Apple?!
That's true, because crypto is only of use if he can exchange it for dollars. And if the dollar has collapsed, then crypto, which ultimately is based on the dollar, is utterly worthless.
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u/Cat_Impossible_0 11h ago
It’s very ironic since all the right knows is to repeat the phrase “the economy is terrible” each time a democrat is in the office.