Elon Musk mocked President Joe Biden after he boasted about his accomplishments in combating climate change during the US financial crisis.
Musk responded to Biden’s claim that he protected more land and water than any president since John F. Kennedy in his first year in office by tweeting, “The banks are melting” on Thursday.
In addition, he stated that his government had made the largest investment in the history of climate change prevention.
Umm … the banks are melting
— Elon Musk (@elonmusk) March 23, 2023
Since March 10, when Silicon Valley Bank, the nation’s sixteenth-largest bank, went bankrupt, the United States has been experiencing financial instability.
Considered the largest bankruptcy since the 2008 financial crisis, it caused significant price declines in US stock markets and European financial institutions.
As a result of rising interest rates, the value of the bonds held by Silicon Valley Bank, Signature Bank, and Silvergate Bank, all three have failed this month.
All eyes have been on the banking system, the Federal Reserve’s interest rate hike, and the roller coaster stock market over the past two weeks.
Former vice president of Lehman Brothers bank, which declared bankruptcy during the 2008 global financial crisis, Lawrence McDonald recently warned that 50 additional banks could declare bankruptcy before structural problems in the United States are resolved.
In the midst of this situation, it was reported on Thursday that the acceptance rate for the president of the United States has fallen close to its lowest point, with only 38% of those surveyed satisfied with his performance. This is seven points lower than in February and only two points higher than in July of last year.
The lack of progress made by the Biden administration on issues like climate change and canceling student debt may be contributing factors to young people’s disillusionment with him, as reported by some media outlets.
