Elon Musk Shares His Superpower, Explains Why He's Best-Suited To Comment On The Economy

In a recent tweet, Tesla CEO Elon Musk took aim at the Federal Reserve for its string of aggressive rate hikes and warned of a severe recession if the central bank does not pivot its strategy.

In making the assessment, Musk also attempted to establish his credentials as the most qualified person to comment on the economy and interest rates.

"Between, Tesla, Starlink & Twitter, I may have more real-time global economic data in one head than anyone ever," the tech entrepreneur wrote on Sunday.

Musk could have a point. One could argue that demand trends for Tesla vehicles can give a general picture of consumer spending, which makes up two-thirds of economic activity. In recent weeks, the Tesla CEO has blamed the economy for his electric vehicle company’s travails. Weak economic conditions have tempered demand for EVs, forcing the company to cut vehicle prices multiple times this year.

As far as Twitter is concerned, the social media platform derives a bulk of its revenue from advertisers. A pullback in ad spending by companies may reflect a pessimism around the economy or potentially weakening company fundamentals.

Since SpaceX and Tesla businesses are manufacturing companies that rely heavily on supply chain, Musk may also be privy to the ecosystem in which these companies operate in.

See Also: How Does Elon Musk Makes His Money

Photo: NASA Kennedy via flickr