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October 16, 2022 | Elon Musk Revoking Ukrainian Aid

Martin Armstrong

Martin Arthur Armstrong is current chairman and founder of Armstrong Economics. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

Don’t bite the hand that feeds you. SpaceX founder Elon Musk came to Ukraine’s rescue when they lost access to the internet. Musk’s sent Ukraine 20,000 Starlink satellite units at the cost of $80 million. After Elon Musk posted a poll regarding allowing the Ukrainian people to vote on the matter of joining Russia and upholding the referendum, Ukrainian diplomat Andri Melnyk publicly tweeted, “Fuck off is my very diplomatic reply to you.”

So now, Elon is considering doing what Melnyk proposed. Musk was concerned about the cost of operations long before Melnyk’s insult. “We are not in a position to further donate terminals to Ukraine, or fund the existing terminals for an indefinite period of time,” SpaceX said in a letter to the White House dated September 8. The company was urging the Pentagon to fund the project, which they estimate will cost $120 million for the remainder of 2022 and $400 million for the next 12 months. Ukrainian General Valeriy Zaluzhnyi, meanwhile, is requesting 8,000 additional Starlink terminals.

Now Musk is considering back peddling and removing his funding to Ukraine. He stated that his company could no longer afford the costs to fund this endless war. When he received negative feedback online, he replied, “We’re just following the recommendation,” and replied directly to Andri Melnyk. This is what happens when you bite the hand that feeds you.

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October 16th, 2022

Posted In: Armstrong Economics

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