‘Disruption and chaos': Donald Trump blasts Elon Musk's new political party, says tech billionaire has gone ‘off the rails'
Musk announced the creation of The America Party on Sunday, telling X users it would challenge America's two-party system and 'give you back your freedom'.
President Trump responded to the announcement in a post on Truth Social on Monday, claiming the man he had praised as a 'genius' and held joint interviews with earlier this year had gone 'off the rails'.
'I am saddened to watch Elon Musk go completely 'off the rails,' essentially becoming a TRAIN WRECK over the past five weeks,' the US President said.
'He even wants to start a Third Political Party, despite the fact that they have never succeeded in the United States - the system seems not designed for them.'
Trump has experience with third parties, having briefly flirted with a run for the Reform Party in 2000.
However President Trump said Musk's announcement would cause 'chaos'.
'The one thing Third Parties are good for is the creation of Complete and Total DISRUPTION & CHAOS, and we have enough of that with the Radical Left Democrats, who have lost their confidence and their minds!' the US President said.
'Republicans, on the other hand, are a smooth running 'machine,' that just passed the biggest Bill of its kind in the History of our Country.'
Musk endorsed Trump for President after the then-Republican candidate narrowly survived an assassination attempt, before going on to donate $250 million to his presidential campaign.
However the pair have fallen out over the passage of Trump's 'big beautiful bill'.
Musk has attacked the legislation, which adds an additional $US3.25 trillion to the deficit.
But President Trump said on Monday that the legislation was a 'Great Bill' and Musk only opposed it because it eliminates the electric vehicle mandate.
'Unfortunately for Elon, it eliminates the ridiculous Electric Vehicle (EV) Mandate, which would have forced everyone to buy an Electric Car in a short period of time,' he said.
'I have been strongly opposed to that from the very beginning. People are now allowed to buy whatever they want - Gasoline Powered, Hybrids (which are doing very well), or New Technologies as they come about - No more EV Mandate.
'I have campaigned on this for two years and, quite honestly, when Elon gave me his total and unquestioned Endorsement, I asked him whether or not he knew that I was going to terminate the EV Mandate - It was in every speech I made, and in every conversation I had. He said he had no problems with that - I was very surprised!
The US President also said Musk had asked the president to appoint his friend to run NASA.
'Elon asked that one of his close friends run NASA and, while I thought his friend was very good, I was surprised to learn that he was a blue blooded Democrat, who had never contributed to a Republican before. Elon probably was, also,' Trump said.
'I also thought it inappropriate that a very close friend of Elon, who was in the Space Business, run NASA, when NASA is such a big part of Elon's corporate life. My Number One charge is to protect the American Public!'
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Sydney Morning Herald
37 minutes ago
- Sydney Morning Herald
The PM seems to have sunk below Ley's radar already
Anthony Albanese says he's been underestimated his entire life (' Ley pulls up Albanese for asserting independence ', July 7). Sussan Ley seems to be the latest to do so. As leader of the House in the Gillard minority government, Albanese was responsible for negotiating and navigating a record number of bills to success by careful interaction with various parliamentary stakeholders. It'scalled nuance; it's not a common trait among Liberals and seems completely absent among Nationals. Albanese's positioning of Australia in relation to Trump's America, ANZUS and AUKUS is just that. Ley's all-in approach is both foolhardy and dangerous when this mercurial American president demands obedience, only to reward it with humiliation. Wayne Duncombe, Lilyfield Sussan Ley appears not to see the opportunity for Australia to stake out a beneficial position vis-a-vis the US. There is significant disruption in the world order and the uncertainty, ironically, provides scope for new, or broader, relationships in our region specifically and with like-minded countries across the globe. Aside from submarines, which may never eventuate or will be obsolete technology when delivered, we have little to lose. Look at the list of countries, all once important allies, that an aspiring autocracy now disregards. Australia is clearly low on a list of those who might have anticipated reliable security assistance and support. The US president rewards capitulation and praise, which guarantees us, at best, nothing, or likely increasing demands. Cordial but firm is the reasonable position; neither offensive nor submissive. We can decide our future, and fortunately we are among a number of quality, like-minded, similarly challenged countries prepared to shift the relationship dynamics. Robert Caraian, Crows Nest I believe Anthony Albanese is striking the right balance in his response to the capricious Donald Trump. His calm, considered yet strong responses, including his speech recalling John Curtin's defence of Australia against ally and enemy, evince the right policy. The Coalition's repeated squawking of the need to desperately seek a meeting with Trump is not helpful. And regardless of the correct stance for Australia, Trump admires strength and ridicules sycophants. And while AUKUS still has majority public support, it remains a poor 'deal' for Australia. Who would agree to buy an extremely expensive car that you pay for before delivery (in 15 years' time), when it will be old and outmoded, and you won't necessarily get to drive it. Oh, and the dealer might decide not to deliver the car but keep it for himself and won't return your money. Rowan Godwin, Rozelle Sussan Ley argues that this is not the time for Australia to be inching away from the US. For her information, the distancing is not of our making; Trump has been actively sabotaging America's relationship with all its allies since taking office. I suspect most Aussies are grateful that Labor is in charge during these chaotic times, not the Coalition, considering Ley's comments. It's a mistake to think Trump will start behaving rationally, and Ley is living in la-la land if she thinks Trump is ever going to behave like an adult. In any case, Albo doesn't need any gratuitous advice from an opposition that's still struggling to get its own act together. Graham Lum, North Rocks The Coalition seems to want to base the success of Australia's relationship with the US on whether Anthony Albanese gets a meeting with Donald Trump, as if it might adversely affect the chances of AUKUS going ahead. I don't think too many Australians will be broken-hearted if the deal falls over; it was a loony idea from the start. Ian Adair, Hunters Hill Sussan Ley has missed the point of Donald Trump's undiplomatic behaviour towards Australia and the world. Trump, ever the bully, sees himself as the 'King' of America, presiding over his vassal states. Trump expects homage and allegiance, rather than the strained friendship that characterises our relationship with the US. Albanese has adopted the correct tone towards Trump, and Ley should be supporting not criticising him. It appears that Trump, on advice from his minions, is playing to his home crowd, making friend and foe beg for favours. Ley's decision is facile and ignores the message sent by the election result. China is our largest trading partner. Does Ley expect Albanese to wait to talk to China's leader until after Trump has remembered he needs to meet our PM? That's just silly and not how life nor diplomacy work. Geoff Nilon, Mascot The Tragedy of Trump At last I've discovered the perfect word to sum up President Donald Trump; it's 'jingoistic'. Excessively patriotic, aggressive, warlike, believing himself superior to others. I've heard 'big, beautiful bill' so many times that I'm starting to believe he should have been a poet. Maybe. Another phrase comes to mind also to sum him up. From Shakespeare's Macbeth, when Macbeth summarises life as being 'a tale told by an idiot, full of sound and fury/Signifying nothing'. And that is Donald Trump as I see him: a jingoistic idiot, signifying nothing except chaos. If the ascent has been spectacular, the burnout will be even brighter. So much so that ash umbrellas will be needed. Peter Skrzynecki, Eastwood Eternal vigilance Much has been said and written about the need for more funding to increase the vigilance of childcare centres and improve the checking system for working with children. But what about more funding for the police department responsible for finding child molesters? In a recent case the crimes were revealed by 'proactive police investigation', which discovered child-abuse material in the man's possession. This must have involved hours of watching those videos posted on the dark web to look for hints of where they were made and by whom. Surely increasing the number, training and turnover of police personnel doing that shocking, depressing but important work would help to speed up the rate of detection? Jill Tuffley, Turramurra The art of living well What a great shame that our governments don't value artists and designers more (' Axe falls on galleries and state's design centre ', July 7). The people who work in these areas produce works that represent who we are, who we aspire to be. Without the celebration of creativity we will continue the mean, inner-looking journey we have been on for too long. Greg Baker, Fitzroy Falls Queen Vic's royal nod It may be of interest to readers that tomorrow (Wednesday, July 9) will be the 125th anniversary of Queen Victoria giving her Royal Assent to the Commonwealth of Australia Constitution Act 1900 (Imp), which created the Commonwealth of Australia on January 1, 1901: 'Whereas the people of New South Wales, Victoria, South Australia, Queensland and Tasmania, humbly relying on the blessing of Almighty God, have agreed to unite in one indissoluble Federal Commonwealth under the Crown of the United Kingdom of Great Britain and Ireland.' Lister Harrison, Brisbane See ya later, culinary larrikin Peter Russell-Clarke's mocking, irreverent but eminently sensible and practical humour was a blessing each evening in the 1980s (' Russell-Clarke never just a cook but also a gifted storyteller, painter, provocateur ', July 7) as my teenage children and immigrant husband awaited my invitation to 'come and get it', all the while painlessly and joyously absorbing the niceties of Australian larrikinism. RIP, Peter. Leone Toker, Port Macquarie In 1988, I participated in the Bicentennial Melbourne to Sydney Bike ride. So did Peter Russell-Clarke. I could always tell when I was catching up with him when I could hear cries of 'Where's the cheese?' in the crowd ahead. Matthew Stevens, Thornleigh As kids, we watched Peter Russell-Clarke's cooking show before being called for dinner, hoping what we were about to be served was going to be as great as what we'd just seen on the telly. Rest well, Peter 'G'day' Russell 'G'day' Clarke, see ya later. Kate van de Wall, Collaroy Plateau While saddened to hear of the death of Peter Russell-Clarke, I was surprised to hear him referred to as 'Australia's first celebrity chef'. Has everyone but me forgotten Graham Kerr from the 1960s? Lesley McBurney, Wavell Heights (Qld) Suffering without end I feel for Rabbi Gabi Kaltmann and all Jewish people ('Synagogue attack targets a community's precious story', July 7). What Jewish people have suffered for millennia weighs on the world's conscience, and many Christians globally have been complicit. However, my support for Jewish people does not cover Netanyahu and his gang in the slightest, just as my support for the Palestinian people does not mean I agree with the tactics of Hamas. Some institutions and individuals refuse to distinguish between antisemitism and opposition to the current Israeli government's destruction of Gaza and its people. This is both complicity in the current crime against the Palestinians and a gross betrayal of the Jewish people and their history. Sister Susan Connelly, Croydon Heritage vandals To add to the long list of heritage buildings in Sydney and the Blue Mountains demolished by neglect (Letter s, July 7) are many regional buildings. One prominent example is the former Kenmore Hospital near Goulburn. It was designed by government architect Walter Vernon and was a psychiatric hospital and military hospital during World War II. Its sporting fields were extensively used by Goulburn sporting clubs, and the complex was an important part of the local community and a big employer. It was decommissioned as a psychiatric hospital in the early 2000s. Despite being a state significant, listed heritage site, it was sold most recently in 2015 to a Chinese-owned company that reportedly had plans to develop it into retirement living spaces and educational facilities. Alas, none of those plans came to fruition and the once elegant buildings lie empty and vandalised, with some partly destroyed by a fire in 2021. Repair work undertaken by Heritage NSW has been painfully slow. There is so much potential for the 138 hectare site – for example, affordable housing, community facilities, accommodation for essential workers, the preservation of an important aspect of Goulburn's history – that is now disintegrating due to neglect. Kate Lumley, Hurlstone Park Tries and mights Although your correspondent (Letters, July 7) may not find contact sports to his liking, his low assessment of its players seems unwarranted. Yes, players do get injured and, as in any walk of life, some individuals will exhibit bullying behaviour. However, despite playing a sport that requires exacting skills under extreme physical stress, it is my observation that the vast majority display a high degree of respect, empathy and camaraderie towards both teammates and opponents. His assertion that 'the majority' are not 'true men' is not only an unfair generalisation about male players but also, ironically, a sentiment that many women and girls who now enjoy the sport might actually welcome. Col Burns, Lugarno I also missed out on that sporting gene and have absolutely no interest in any sport. However, the science of evolution does pique my interest, and seeing (in passing) a goal scored or try success I am reminded (amusingly) that with flexed muscles, clenched fists and the baring of teeth we are not all that distant from our primate cousins. Very interesting. Trish Nielsen, Avalon Tragedy begets thanks The unfolding tragedy in Texas (' Children swept away by an 8m wall of water ', July 7) is a stark reminder of the courage and persistence of volunteers who give their time to helping others. We witness this here time and again and are ever thankful for their service. Vicky Marquis, Glebe Get it off your chest If I could add to the thoughts of your regular correspondent (Letters, July 7), I find writing letters to the editor has provided enormous benefits to my mental health, whether they are published or not. It's just great to get something off your chest, even if it ends up in the bin. Gordon Lambert, Kiama Downs Further to the recent discussion on affordable hobbies, could I suggest the University of the Third Age (U3A)? Most medium-to-large towns have one (there is also an online one), and they cater, as the name indicates, mainly to the retired section of the community. There are no entry requirements, nor are degrees or diplomas awarded – it is learning just for fun. Courses range from subjects such as history and languages to options such as lawn bowls or beekeeping. Tutors are all unpaid volunteers, offering their expertise to other members. Most courses are face-to-face, as apart from the joy of learning, getting together in class also serves an important social and mental health function for an often isolated and lonely sector of the community. Herman Beyersdorf, Bangalee Taylor-made name Perhaps a better idea for Angus Taylor (Letters, July 7) than adding an extra S to his name would be to change it to AnGAS. That might not bring him 'luck and more positive press' but it would certainly endear him to all the climate deniers in the Coalition. Alan Marel, North Curl Curl
News.com.au
an hour ago
- News.com.au
Closing Bell: Utility players burst off bench to keep ASX from falling too far behind
It was a tale of two halves for the ASX today, and neither were great Caution abounds ahead of two major market-moving events this week, including RBA and Trump decisions Utilities stock Origin Energy was a big-cap MVP today, although there were strong efforts from small-cap ressies The ASX managed to claw back a bit of respect in the dying minutes but it was a Monday loss, closing down 0.16% at the final whistle. We won't say this was always on the cards, as it was a murky gauge this morn with Wall Street traders taking July 4 off for fireworks, hot dogs, blind patriotism and such and such. While that followed all-time highs for the S&P 500 and Nasdaq Composite, today's performance does continue the fizzling-out ASX pattern from late Friday and mirrors a Euro stocks downturn plus a 0.5 per cent fall in S&P 500 futures. Here's a glimpse at what happened on the ASX today, courtesy of Market Index. While materials/resources stocks took a hit as a whole, utilities stocks kept up their effort to bolster the bourse all day with little else to commend from the sectors more broadly, although healthcare gets a "satisfactory" stamp. Big gun Origin Energy (ASX:ORG) ($19.84 billion market cap) played a major part there, closing almost 7% higher. There was a Reuters report on the weekend about UK's Octopus Energy's plans for a $US13.7bn divestment and stake sale of Kraken, its technology arm. Origin owns a stake in Octopus and uses the Kraken tech platform, so this could be behind the spike that's helping prop up the ASX from further losses this afternoon. As reported by The Australian, Origin increased its stake in Octopus to 23% in December 2023, spending £280m ($530m) for a 3% top-up. Major factors at play this week RBA rate cuts If the four big banks are anything to go by, and we guess they are, there's a goodly amount of consensus that the Reserve Bank of Australia will pull out the shears and trim off another 25 basis points from its cash rate tomorrow. This would bring the cash rate down to 3.6%, give some relief to mortgage holders and maybe give the local economy a pick-me-up. That's the theory, anyway. As reported by business journalist Valerina Changarathil in The Australian: on Friday, Westpac chief economist Luci Ellis, a former RBA official, noted there is nothing in the next five weeks that makes it worth RBA governor Michele Bullock waiting until August to cut the official cash rate. Inflation is in the target range, with downwards momentum now evident, she said. 'Likewise, another monthly labour force release and the last-ever retail sales number will not change the current view on the economy.' Tariffs decision deadline The 90-day pause on reciprocal tariffs announced by US President Donald Trump in April is set to expire this Wednesday, July 9. Traders will be nervous. Once they've taken a hit of Berocca and are back at their desks, we might know a bit more about how our American counterparts are feeling heading into the next day or so. Expecting the unexpected from the Prez has become the norm, so we'll see. As Phoebe Shields noted at lunch today… Hotly anticipated deals with India and the EU appear to have fallen through at the last minute, leaving the door open for some big market upsets when the new tariffs finally come into effect. On Friday, Trump added more fuel to that fire, stating tariffs could range up to 70% compared to the 10% to 50% threatened in April. That said, investors aren't running for the hills as they were on Liberation Day. 'The markets are discounting a return to tariff levels of 35%, 40% or higher, and anticipating an across-the-board level of 10% or so,' Boston-based Twinfocus' chief investment officer John Pantekidis told Reuters. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Code Name Last % Change Volume Market Cap VN8 Vonex Limited 0.035 94% 2,220,557 $13,546,863 BMM Bayan Mining and Minerals 0.063 80% 32,805,320 $3,603,439 BPM BPM Minerals 0.045 55% 15,364,703 $2,531,709 GTR Gti Energy Ltd 0.0045 50% 13,615,308 $8,996,849 IPB IPB Petroleum Ltd 0.009 50% 2,112,051 $4,238,418 KPO Kalina Power Limited 0.009 50% 7,043,612 $17,597,974 CYQ Cycliq Group Ltd 0.003 50% 172,933 $921,033 EEL Enrg Elements Ltd 0.0015 50% 546,851 $3,253,779 PAB Patrys Limited 0.0015 50% 2,150,000 $2,365,810 EVR Ev Resources Ltd 0.013 30% 48,546,961 $19,858,367 4DS 4Ds Memory Limited 0.033 27% 15,615,069 $53,583,367 FRB Firebird Metals 0.097 26% 1,710,829 $10,961,828 MMR Mec Resources 0.005 25% 8,400,000 $7,399,063 PLG Pearlgullironlimited 0.01 25% 610,716 $1,636,334 SRZ Stellar Resources 0.02 25% 19,379,782 $33,276,009 ZMM Zimi Ltd 0.01 25% 595,632 $3,420,351 SCP Scalare Partners 0.13 24% 11,447 $4,392,677 SWP Swoop Holdings Ltd 0.13 24% 283,853 $22,520,255 RRR Revolverresources 0.038 23% 194,474 $8,564,502 C29 C29Metalslimited 0.017 21% 4,287,125 $2,438,635 ZEU Zeus Resources Ltd 0.017 21% 22,276,413 $9,001,113 ATX Amplia Therapeutics 0.355 20% 22,417,949 $114,446,037 1AI Algorae Pharma 0.006 20% 309,697 $8,436,974 QXR Qx Resources Limited 0.003 20% 6,644,685 $3,275,822 RCM Rapid Critical 0.003 20% 111,311 $3,539,445 Making news… Bayan Mining and Minerals (ASX:BMM) burst up 80% today after it filed staking claims for 72 lode claims covering 6km2 in the Mojave Desert of California in a bid to form the Desert Star rare earth project. It's a Tier 1 area for rare earth mineralisation, just 4.5km from the globally significant Mountain Pass REE Mine, and 4.7km from Dateline Resources' (ASX:DTR) Colosseum project. BMM has started a desktop review, while field recon and rock chip sampling will start shortly to identify early-stage targets. BPM Minerals (ASX:BPM) is preparing to kick off drilling at its newly acquired Forelands gold project in the Yilgarn Craton–Albany Fraser Orogen margin of WA. The project comprises of ~630km2 of prospective ground with historical RC, diamond and AC drilling confirming presence of high-grade gold mineralisation across multiple prospects. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Code Name Last % Change Volume Market Cap C7A Clara Resources 0.003 -25% 1,011,827 $2,353,084 EDE Eden Innovations 0.0015 -25% 22,000 $8,219,762 FAU First Au Ltd 0.003 -25% 6,532,822 $8,305,165 AGY Argosy Minerals Ltd 0.026 -24% 19,499,638 $49,501,312 PV1 Provaris Energy Ltd 0.014 -22% 1,123,604 $12,564,023 AQC Auspaccoal Ltd 0.04 -22% 27,068 $35,723,847 1AD Adalta Limited 0.002 -20% 2,700,000 $2,678,291 GGE Grand Gulf Energy 0.002 -20% 750,000 $7,051,062 MEL Metgasco Ltd 0.002 -20% 1,097 $4,581,467 TMX Terrain Minerals 0.002 -20% 81,780 $6,329,536 HE8 Helios Energy Ltd 0.018 -18% 1,572,173 $70,630,530 ALM Alma Metals Ltd 0.005 -17% 2,024,333 $11,104,423 BPP Babylon Pump & Power 0.005 -17% 3 $20,261,346 GMN Gold Mountain Ltd 0.0025 -17% 7,724,232 $16,859,278 MRD Mount Ridley Mines 0.0025 -17% 751,500 $2,335,467 NES Nelson Resources. 0.0025 -17% 31,999 $6,515,783 NFL Norfolkmetalslimited 0.14 -15% 111,195 $8,586,754 MDR Medadvisor Limited 0.047 -15% 6,964,794 $34,363,178 AKN Auking Mining Ltd 0.006 -14% 2,943,588 $4,023,451 AYT Austin Metals Ltd 0.003 -14% 104,766 $5,544,670 LCL LCL Resources Ltd 0.006 -14% 95,362 $8,394,800 OVT Ovanti Limited 0.006 -14% 3,900,487 $29,850,265 SNS Sensen Networks Ltd 0.03 -14% 10,000 $27,756,312 SPX Spenda Limited 0.006 -14% 1,789,660 $32,306,508 AHK Ark Mines Limited 0.155 -14% 7,950 $11,908,926 Making news… Argosy Minerals (ASX:AGY) was down 24% after completing an oversubscribed share placement, raising $2m at 2.5 cents per share. AGY will use the funding for an ongoing engineering and optimisation study for the 12,000-tonne-per-annum Rincon lithium project in Argentina and strategic plans for the Tonopah lithium project in the US. IN CASE YOU MISSED IT Rock chip sampling by Golden Mile Resources (ASX:G88) at the Aurora prospect has returned up to 29.3g/t, marking the highest gold grades achieved at the project to date. LinQ Minerals (ASX:LNQ) has selected a drilling contractor to start its key phase 1 program at the Gilmore gold and copper project. TRADING HALTS
AU Financial Review
3 hours ago
- AU Financial Review
Albanese lost in translation as he heads to Beijing
Timing and imagery matter in politics. It may be a coincidence that Anthony Albanese's visit to Beijing this weekend is uncomfortably close to yet another supposed Trump deadline for tariff and trade deals this week. But the willingness of this US president to trample on the diplomatic sensitivities of close allies doesn't give an Australian prime minister the same leeway. Not when the power, economic and security balance is so unequal.
