#TrumpVsMusk
Trump vs Musk: A Heated Public Feud
The once-strong partnership between Donald Trump and Elon Musk has dissolved into a bitter public feud. Let's break down the key developments and implications of this escalating conflict.
What Sparked the Fallout?
The tension began when Musk criticized Trump's proposed "One Big Beautiful Bill," a sweeping tax-and-spending package that Musk believed would explode the deficit. Trump retaliated by threatening to cancel government contracts tied to Musk's companies, prompting Musk to announce the retirement of SpaceX's Dragon spacecraft.
Key Quotes from the Feud
- *Musk on Trump's Bill*: "I think a bill can be big or it could be beautiful. But I don't know if it could be both."
- *Trump on Musk*: "The man who has lost his mind."
- *White House Press Secretary Karoline Leavitt*: "The President already knows where Elon Musk stands on this bill. It doesn't change the president's opinion."
Market Impact
The feud had an immediate impact on Tesla's stock price, which plunged over 14% in a single day, wiping out approximately $150 billion in market value. However, the stock clawed back some losses following reports of a scheduled conversation between Musk and Trump.
International Reactions
Russia has weighed in on the feud, with Foreign Ministry spokeswoman Maria Zakharova telling Elon Musk to "not be upset." Dmitry Rogozin, the former head of Russia's space agency, even offered Musk a spot in Russia, saying, "If you encounter insurmountable problems in the US, come to us. Here you will find reliable comrades and complete freedom of technical creativity."
Potential Consequences
The feud may have significant implications for:
- *Federal Housing Policy*: Uncertainty surrounding the Trump-Musk relationship could lead to increased market volatility.
- *Economic Planning*: Potential repercussions on government contracts and subsidies for Musk's companies.
- *Mortgage Market*: Market instability could affect investor confidence.
Stay tuned for further updates on this developing story ¹.
