Wed Apr 19, 2023 – 3:29 pm EDT
(LifeSiteNews) — Tech mogul Elon Musk gave his thoughts on the ongoing banking crisis in the second installment of his interview with Fox News host Tucker Carlson, which aired Tuesday night. Musk said that ongoing inflation at least partially caused by the government pumping money into the economy during the COVID lockdowns is likely to get worse this year unless curbed by a reduction in the interest rates by the Federal Reserve.
“[T]here’s a serious danger with the global banking system,” the Tesla and SpaceX co-founder told Carlson in a far-ranging interview that partially aired on Monday and also touched on topics related to artificial intelligence and plummeting birth rates.
“It’s not that the canary in the coal mine has died, but the miners are starting to die too,” Musk said. “Silicon Valley Bank collapsing overnight is one hell of a big canary. It’s more like a turkey. It’s not like some small fry thing.”
Musk said that stimulus bills during the COVID-19 lockdowns weren’t “paid for,” but simply “generated more currency” into the economy. Unlike state governments or individuals, he said, the federal government has the power
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