Morning Wire Twitter Deal Stalls & Title 42 | 5.20.22
May 20, 2022
Elon Musk's turbulent bid for Twitter faces a major obstacle over concerns about fake accounts. Meanwhile, illegal border crossings soar as discussions around Title 42 heat up, revealing a deepening immigration crisis. The economic fallout from extensive COVID relief spending raises alarms about inflation, with experts critiquing how funds were managed and the ongoing repercussions for the Federal Reserve. This episode dives into the intertwining issues of tech, immigration, and economics, uncovering the real impact of recent policies.
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Twitter Deal Stalled
- Elon Musk's Twitter purchase is stalled due to questions about bot accounts.
- He claims 20% of accounts are fake, impacting the company's value and deal price.
Border Crisis Worsens
- Record-high illegal border crossings occurred in April with 234,000 migrant interceptions.
- Title 42's potential end worries lawmakers, as it could further increase these numbers.
COVID Spending and Inflation
- Trillions in COVID relief spending correlate with record inflation, as more dollars chase fewer goods.
- Some funds were used frivolously, like for horse tracks and social media influencers.