close video How did Silicon Valley Bank miss its ticking time bomb?
Independent Institute senior fellow Judy Shelton reacts to the banking failure and gives her take on the Fed’s rate hikes on ‘Making Money.’
Twitter CEO Elon Musk clapped back at President Biden on Thursday, following a tweet boasting about the strides he made in his fight against climate change.
"In my first year in office, we protected more lands and waters than any president since John F. Kennedy," Biden tweeted. "We’ve also made the largest investment to fight climate change – ever. Today, we’re building on that momentum by protecting additional natural wonders."
Elon Musk gestures as he speaks during a press conference at SpaceXs Starbase facility near Boca Chica Village in South Texas on February 10, 2022. – Billionaire entrepreneur Elon Musk delivered an eagerly-awaited update on SpaceXs Starship, a protot (Photo by Jim Watson/AFP via Getty Images) / Getty Images)
The post received the typical responses with users asking about student loan reduction, comparing the president’s statements to the reality of Bigfoot riding the Loch Ness monster, and some people praising the president for his accomplishments.
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Over the past couple of weeks, eyes have been pinned on a potential banking crisis, the Fed’s interest rate hike, and stock market coaster.
As concerns continue to grow over bank stability, Biden’s approval reportedly sank to nearly its lowest point ever this month, at just 38%. Last month his rating was 45% and the drop comes amid the collapse of Silicon Valley Bank and Signature Bank in recent weeks, compounding fears of a recession.
Musk responded to Biden’s boastful post about fighting climate change, tossing in his two cents.
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"@POTUS umm…the banks are melting," Twitter’s commander in chief responded.
Billionaire Musk purchased Twitter last year, is the CEO of Tesla and the founder of SpaceX.
Earlier this week, he tweeted about UBS buying Credit Suisse and weighed in on the buyer getting a $100 billion credit line as part of the deal.
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Of course, all Musk said of the credit line was, "Wow."