Elon Musk's massive ego explains why he doubts government data and believes a recession is underway, Nobel laureate Paul Krugman says
alleging the government is publishing fake numbers with the words:"Something doesn't add up."
Krugman's theory for why Musk and other tech executives are dismissing government statistics and stubbornly sounding the recession alarm? Their phenomenal success has made them think they're smarter than they actually are. "Technology billionaires are especially susceptible to the belief that they're uniquely brilliant, able to instantly master any subject, from Covid to the war in Ukraine," he said."Their belief in their own genius makes them highly gullible, easy marks for grifters claiming that the experts are all wrong."
Indeed, Musk has boasted about his virtually unmatched volume of knowledge."Between Tesla, Starlink & Twitter, I may have more real-time global economic data in one head than anyone ever," heKrugman, a Nobel Prize-winning economist, ruled out the possibility that the Biden administration is fiddling with its figures.
The columnist acknowledged a recession could eventually strike, but he firmly dismissed the idea that one is already underway. Musk and his peers are skeptical of that reality because"they don't know what they don't know, and nobody is in a position to enlighten them," he said.
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