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GCA Forums News for Monday June 9 2025
We will cover today’s comprehensive daily news in today’s GCA Forums News for Monday, June 9, 2025. We will cover the latest update between President Trump and Elon Musk. Last week, there was a major blowout between Trump and Musk. Trump and his inner circle no longer trust Musk. Musk invested millions in Trump, but what is the real story? Did Musk have an ulterior motive? Is Tesla deteriorating? Tesla’s Cyber truck is sitting dormant and not selling. The left loved Musk but no longer after he supported Trump and the Republicans. What is going on with the latest housing and mortgage news? What is happening with the Dow Jones Industrial Average, other indices, and Tesla stock? Tesla stock lost 14% last Thursday. Musk got kicked out of the White House. What is going on with Trump’s Tariffs? What is going on with precious metals? What is the latest with inflation? Did Trump use Musk and leave him after he used Musk? What is going on with the economy? What is going on with both sides of the political spectrum? What is going on with the Department of Government Efficiency? Is this the end of Elon Musk? Did the public turn its back on Musk?
GCA Forums News: Monday, June 9, 2025
Update on Trump-Musk Romance
The relationship between President Trump and Musk has degenerated into a public feud, escalating rather rapidly last week. On Trump’s part, it started on June 5, 2025, when he threatened to cut government contracts and subsidies for Musk’s companies, including Tesla and SpaceX, which he claimed could cost billions.
Accusations by Musk
- In retaliation, Musk accused Trump of running his economy into the ground, pledging a recession in the second half of 2025 at Trump’s hands.
- He even called for bursting Trump’s impeachment balloon and idly tweeted about SpaceX’s Dragon spacecraft being decommissioned—while cautioning, later, that he’d retract.
- Elon Musk intensified his social media attacks on Trump, doubled down on his reframing, and focused even more on claiming Trump’s policies had destroyed American quality of life.
- Musk claimed he should be outraged, describing this as unprecedented.
- How in a democracy someone can be de facto ruled by a person suffering from the character divide seemed immeasurable when Musk turned against Trump for his tax and spending policies, declaring them “stuffed with disgusting pork” and demanding from his followers on X that Congress kill them.
- It would be hard to forget how, together in May and March of 2025, they attended Disneyland and sipped drinks here and there while seated on couches in Trump’s cab after participating in joint dinners where they proposed spending bills.
- Musk’s critics argued that he wanted to control policy to benefit Tesla and SpaceX, which depend on federal contracts and subsidies.
- The Washington Post estimated that Musk’s companies receive approximately $38 billion of federal spending.
- Out of that, SpaceX alone constituted $22 billion. Despite this, Musk’s vocal criticisms of Trump suggest he did not expect Trump to accommodate his influence, and his attempts at accommodating Musk may have backfired.
- No concrete evidence goes beyond the stated reason for downsizing the government, for Musk’s sudden fallout with Trump, which raises questions of strategy gone wrong.
Did Trump use Musk?
- Trump’s embrace of Musk, starting with giving him the position of leading DOGE and showcasing Tesla vehicles at the White House, was a public display of approval.
- After Musk criticized Trump, the latter distanced himself, saying he was “disappointed,” which many interpreted as suggesting that Musk’s exit from DOGE was due to his inability to handle the role.
- Some House Republicans also voiced dissatisfaction with Musk’s supposed lackluster performance in the role.
- However, it seems more likely that Trump used Musk’s influence to achieve his objectives and shut him out when they no longer aligned.
Tesla’s Performance and Cybertruck Sales
- On June 5, 2025, Tesla’s stock plummeted 14.3%, erasing its value by 150 billion dollars, marking the largest single-day drop in history.
- The decline was caused by the Musk-Trump feud, specifically Trump’s threatened removal of EV tax credits, which would have netted Tesla $1.2 billion.
- Tesla’s stock price experienced a minor recovery on June 6.
- Still, it remained down 21% in 2025 and had experienced a 33% decline since Trump’s inauguration.
Sales of Cybertrucks:
- Tesla is not doing well in Cybertruck sales, as analysts point toward Musk’s prioritization of this model over more utilitarian vehicles as a bigger drag on sales.
- Total sales of Tesla vehicles have also declined partly due to Musk’s political activism, which led to protests at Tesla plants in the US and Europe.
- In the EU, sales are down because of the political backlash, while in China, Tesla faces steep competition from domestic EV manufacturers.
- These factors, along with the anticipated withdrawal of federal aid, put Tesla in a weaker position in the market.
Perception of Government and Politics
- Musk’s shift from a revered leftist tech figure to a Trump Republican has cost him a lot of goodwill.
- According to X posts, his net favorability has shifted from +24 to -19 points, with a staggering 126-point drop among Democrats.
- The backlash against Musk has also affected Tesla, with a dip of 20 in net favorability.
- Musk has recently come under fire from the left sympathizers who used to endorse him because of his green energy innovations.
- Now, he is considered disloyal for backing Trump.
- On the other hand, some Republicans question his loyalty due to his reprimands for Trump’s policies.
Is This the End of Musk?
Despite these recent conflicts, Musk remains the world’s richest man. SpaceX and Tesla play integral roles in the United States space industry and the electric vehicle market. Due to government contracts, complete dismemberment is mostly impossible. Still, his political blunders and divided focus have hurt his public image and Tesla’s market performance. Musk’s crisis management will have to focus on stabilizing Tesla alongside maintaining government partnerships for SpaceX.
Trump’s Tariffs
- Concerns about economic fallout have surged due to Trump’s aggressive policies on tariffs.
- These include a proposed 50% tariff on certain European goods and the China trade war.
- Tariffs often trigger a recession or, at the very least, stagnate growth.
- Analysts fear that these tariffs will spur inflation and disrupt international trade, a view Musk has vocally supported.
- On June 5, a phone call between Trump and Xi brought some optimism toward progress in tariff negotiations.
- However, nothing of substance has been done. The complete economic impact of these tariffs is anticipated to become much clearer in the following months.
Recent Mortgage and Housing Updates
The first dip in mortgage rates after a month, Treasury yields led to a fall. Mortgage rates are now at 6.9%. These rates continue to dampen homebuying activity, especially during the important spring period. The housing market faces wider economic uncertainty due to tariffs, federal funding cuts, and decreased government spending.
Summary of the Dow Jones Industrial Average and Other Indices
- The Dow Jones Industrial Average, on 6/6/2025, jumped over 400 points (1.1%) to 42,319.74, closing above 42K for the first time.
- This resulted in a new high for NASDAQ for the year, sitting at around 6k.
- SP500 also rose above 6000, indicating a bullish market sentiment.
- May job figures showing surprising improvement and some signs of a truce in the ongoing feud involving Trump and Musk were the reasons for this rally.
- On the other hand, markets were dipping ahead of June 5, with Tesla’s induced slump alongside uncertainty around tariffs pushing the Dow lower by 0.25%, while SP500 and NASDAQ tracked it down with declines of 0.5% and 0.8%, respectively.
Precious metals update
Concerns regarding tariffs have incentivized investors to turn to gold, silver, and platinum, which, as of June 6, have reached multi-year highs surpassing prices observed previously. While we lack specific data points, the trend indicates a growing unease about inflation and trade tensions.
Inflation Update
- Concerns related to inflation have mounted to a good extent due to the tariffs imposed by Trump.
- Based on regional inflation rates, President Jeff Schmid of the Kansas City Federal Reserve claimed on June 5 that tariffs would reignite inflation.
- He warned that their impact could be felt within months.
- China’s producer deflation contracted at the worst rate in nearly two years in May, which shows how dire the global economy is facing.
- The Federal Reserve is still cautious about slashing rates as job data remain unchanged, and the effects of tariffs are yet to be fully captured within the numbers.
Department of Government Efficiency (DOGE)
- DOGE, or Department of Government Efficiency, was created and headed by Musk as an initiative to reduce the Federal workforce and government spending and fire several contractors.
- Musk’s abrupt exit came after he classified himself as ineffective under the Trump administration.
- With no clear successor announced yet, Trump’s remarks indicate that he no longer hopes to rely on Musk’s input amid other comments criticizing Trump’s last-minute decisions.
Economic Outlook
- Reduced federal funding, imposed tariffs, and stagnant spending will heavily strain the economy.
- By laying off nearly 100,000 employees in May, U.S. employers exacerbated job cuts for 2025 to below 700,000 while increasing their rate by 47% yearly.
- This makes for a disturbing economic cocktail, especially when combined with the projected costs of increasing inflation due to tariffs.
- This prediction contrasts with Musk’s expectation of recession-inspired growth.
Meanwhile, the XX CNN and Quartz links tell of a northern trigger that surfaced across markets and did not end well. Regardless, the Tesla market value is intricately tied to Elon as both are public figures’ faces and are somewhat expected to be hurt whenever one receives subconscious criticism pointed toward the other. As pointed out, the closure of financial markets causes people to remain angry at the government and constantly bash politics publicly. With a thought, the all-terrain Lee super Oscar potential of two people at once stepping down, there would be a slight energy release from the second leading markets. Markets are less physically cap-sensitive; the evolution of the financing paradigm quite simplifies the reason behind this.
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https://www.youtube.com/watch?v=Q61fLCh_LZA&list=RDNSQ61fLCh_LZA&start_radio=1
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3 Replies
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Kash Patel, the newly confirmed director of the FBI, was on a podcast last week. It might have been Joe Rogan’s podcast. Kash Patel said that his home got swatted by the FBI even though he was the current active director of the FBI. Is Kash Patel lying, or is he telling the truth? How can an active FBI Director’s house get raided by the FBI’s SWAT Team? Does not make a world of sense. Not even a bit. Can you please clarify Kash Patel’s statement?
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Kash Patel, confirmed as FBI Director, said in The Joe Rogan Experience podcast that his house was swatted the day before, on June 5, 2025. Swatting is a form of hoax calls made with the intent to provoke an armed response, in this case, allegedly targeting Patel’s residence. Several users, notably @cb_doge, @RT_com, and @BreitbartNews, posted on X corroborating his statement as early as June 6, 2025, showing no contrarian reporting. Neither the FBI nor any other law enforcement agency has issued any statement confirming or denying the incident, and no other mainstream outlet seems to be covering the case, which makes one wonder about such absence.
While his narrative does make some sense, it remains unverified. FBI involvement in swatting is unique in the sense that someone can call 911 and trigger a SWAT response from any agency, not necessarily the FBI. As Director of the FBI, it would be easy to assume that he would have some form of protection against such incidents. Still, swatting is meant to target everyone regardless of title or position. The lack of sense could result from chaos behind swatting methods and law enforcement’s exploitation of quick response times. The less sensational hypothesis is far more likely in this case – that some malicious actor placed a false call, which resulted in the response from some local SWAT element.
To summarize, there is no direct proof that Patel was deceitful, but the lack of specific documents or confirmations renders the claim unverifiable. The YouTube Shorts link you provided showcases a segment from the podcast where Patel mentioned the swatting incident, which aligns with the posts on X. However, it does not serve as independent corroboration. If you want more clarification, please look for press releases by the FBI or the relevant local agencies. Still, none of the supplied information appears accessible.
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I know for a fact that Kash Patel means his house was raided by the FBI and other law enforcement teams’ SWAT teams. Even Joe Rogan asked your house got Swatted? Patel responded Yeah, my home got swatted yesterday, like it is no big deal, and that he is operating a huge law enforcement organization, which even he has restrictions. What a crock of shit and a liar. I used to trust Kash Patel, but in just a few short months, his head has gotten too big, and he is becoming a big fat liar who cannot be trusted.
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