Tesla and Spacex CEO Elon Musk expects a world recession to final till the spring of 2024. Musk added that his two firms are in good positions however many others usually are not. “Recessions do have a silver lining in that firms that shouldn’t exist cease present,” the Tesla boss mentioned.
Elon Musk on World Recession
Tesla CEO Elon Musk shared his ideas a few world recession in a Twitter thread Friday. The thread was began by Dogecoin co-creator Billy Markus who tweeted: “Coronavirus numbers are literally fairly low. I suppose all we’ve got to fret about now could be the approaching world recession and nuclear apocalypse.” Musk commented: “It positive can be good to have one yr and not using a horrible world occasion.”
One other Twitter person chimed in, asking Musk: “How lengthy do you assume the recession will final?” The Tesla boss replied: “Simply guessing, however in all probability till spring of ’24.”
The identical Twitter person adopted up with the query: “How a lot worse do you assume it is going to get? Like a bit worse or a ton worse?” Musk replied:
Varies rather a lot. Tesla & Spacex are in good positions, however many different firms usually are not. Recessions do have a silver lining in that firms that shouldn’t exist cease present.
Throughout Tesla’s third-quarter earnings name on Wednesday, Musk mentioned that “China is experiencing a recession of types” and “Europe has a recession of types pushed by vitality.” In the meantime, “North America’s in fairly good well being, though the Fed is elevating rates of interest greater than they need to, however I believe they’ll ultimately understand that and convey them down once more,” he famous.
In August, Musk mentioned that inflation has peaked however we may have a recession for 18 months.
Many individuals anticipate the U.S. economic system to dip into recession. A latest survey exhibits that 98% of chief executives are getting ready for a U.S. recession whereas 99% are getting ready for a recession within the EU.
Goldman Sachs CEO David Solomon mentioned this week that there’s a good likelihood of a U.S. recession. JP Morgan Chase CEO Jamie Dimon lately warned {that a} recession may hit the U.S. economic system in six months.
Famend investor Jim Rogers believes that the recession would be the worst in his lifetime. Gold bug and economist Peter Schiff cautioned that the Federal Reserve’s motion may result in market crashes, large monetary disaster, and a extreme recession.
Do you agree with Tesla CEO Elon Musk a few world recession? Tell us within the feedback part beneath.
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