Last night: The U.S. should lift the negative measures against China. Trump then stated that U.S.-China relations are very important, and the Geneva trade talks were very successful. Finally, the Chinese side stated that both sides should make good use of the already established economic and trade consultation mechanism to strive for a win-win result.
Then JPMorgan stated that Trump's tax plan could result in a $1.2 billion annual profit loss for Tesla. Musk was the first to fire back on social media, quoting Trump's 2013 tweet criticizing raising the debt ceiling, stating (a truth): Trump said in 2013, "I can’t believe the Republicans want to raise the debt ceiling—I’m a Republican and I’m very ashamed!" Now Trump is pushing to raise the U.S. debt ceiling.
When asked about Musk's criticism of his spending plan, Trump stated that Elon was dissatisfied because we canceled the electric vehicle subsidies and rejected Musk's preferred NASA leader candidate. I had a good relationship with Elon Musk; I don’t know if we still will. Then the two began to bicker on social media.
Trump expressed "very disappointed in Musk, even without Musk I could win Pennsylvania, I helped him a lot. Musk's dissatisfaction is purely because the electric vehicle tax credit was canceled. He hasn't said anything bad about me yet, but that will happen soon. Musk knows more about this bill than almost anyone."
After seeing this, Musk again posted to deny Trump's remarks, stating he does not understand the "tax plan", "Incorrect, this bill was never shown to me once, and it was passed quickly in the middle of the night, with almost no congressional members able to read it!" Previously, Trump stated that Musk "knows more about this bill than almost anyone."
Musk then posted, "Trump is so ungrateful, without me he would have lost the election, the Democrats would control the House, and the Republican seats in the Senate would go from 51 to 49." This shows that Musk is very saddened by Trump's actions, and in the following social media posts, Musk retweeted articles where Trump previously spoke up for him, tagging Trump's X account, "Do you remember?"
Then Musk retweeted a tweet stating that he previously shared Trump's 2023 social media post, where Trump said two years ago: "If the U.S. budget is not balanced (deficits are not allowed), no member of Congress should be eligible for re-election!"
Musk captioned: "Where is the person who wrote these words back then? Was he replaced by a stand-in?" Musk also initiated a voting campaign on social media: "Is it time to create a new political party in America that truly represents the middle 80%?"
Then Trump posted on his personal social platform, stating, "Musk 'annoys me', I let him go, I canceled the mandate for everyone to buy electric cars that nobody wants (he knew for months that I was going to do this!), and then he went crazy!" Musk then responded to Trump, calling such lies sad.
Then after seeing Trump's post, Musk dropped a bombshell that Trump appeared in Epstein's documents. This is the real reason why these documents were not made public. Have a nice day, DJT!" Epstein was charged with sex trafficking and sexual assault of minors, accused of running a sex trafficking network involving celebrities, wealthy individuals, and political figures. He "committed suicide" in prison in 2019, and the cause of death remains controversial, sparking numerous conspiracy theories.
Then Trump did not respond and posted on his personal social platform, stating, "I don’t mind Musk opposing me, but he should have done it months ago. This is one of the greatest bills ever submitted to Congress. It is a record spending cut of $1.6 trillion and the largest tax cut ever.
If this bill does not pass, taxes will increase by 68%, and worse things could happen. I did not create this chaos; I just came to fix it. This bill pushes our country onto a great path. Make America great again!"
Finally, Musk retweeted a discussion tweet stating "Trump should be impeached and replaced by JD Vance" and commented, "Yes." The back-and-forth basically ended here.
From the whole incident, the cause was Trump's tax plan causing a $1.2 billion annual profit loss for Tesla, and Trump's series of actions had a significant impact on American capitalists. Musk is just one of them. Of course, during this period, many people fanned the flames, but both parties did not respond positively to the social media provocations. It is not difficult to see that both are enthusiasts of the crypto market. But both are also businessmen. For the good rise of the crypto market later, both are racking their brains to put on an annual show of conflict. Because there are too many bulls in the current market, and the weight of the car is not conducive to the rise of the market later. Moreover, these two must have shorted the market.
However, this round of market decline is also understandable; you want to watch the president and the richest man argue for free? Deductions from your accounts for ticket money should be reasonable. Finally, this morning Elon Musk responded to Bill Ackman, agreeing that he and President Trump should "achieve peace for the national interest."
So don't think that the market decline means the bull market is over, the big things are still to come, just wait patiently.
That's all for today, thank you all for your long-term support for the old dog~
