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Tesla CEO Elon Musk Says Recession May Last Until Spring 2024 – Bitcoin News Economics


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Elon Musk, CEO of Tesla and Spacex, expects the global recession to continue until the spring of 2024. Musk added that his two companies are in a good position but many others are not. “Recessions have a positive side to those companies that shouldn’t be around,” said the Tesla boss.

Elon Musk talks about the global recession

Tesla CEO Elon Musk shared his thoughts on the global recession in a thread on Twitter on Friday. The topic was started by Dogecoin co-creator Billy Marcus who tweeted: “Coronavirus numbers are actually pretty low. I think all we have to worry about right now is an impending global recession and a nuclear apocalypse.” “It would definitely be nice to go one year without a horrific global event,” Musk commented.

Another Twitter user shared, and Musk asked, “How long do you think the recession will last?” The Tesla boss replied: “Just a guess, but maybe until the spring of 24.”

The same Twitter user followed up with the question, “How much do you think it’s going to get worse? Like a little worse or a ton worse?” Musk replied:

It varies a lot. Tesla & Spacex are in good positions, but many other companies are not. Recessions have a positive side in those companies that should not exist.

During Tesla’s third-quarter earnings call on Wednesday, Musk He said that “China is in some kind of recession” and “Europe is in a kind of energy-driven recession.” Meanwhile, he noted, “North America is healthy, although the Fed is raising interest rates more than they should, but I think eventually they will realize that and lower them again.”

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In August, Musk said inflation had peaked but we’ll have a recession since then 18 months.

Many people expect the US economy to plunge into recession. newly exploratory study It shows that 98% of CEOs are preparing for a US recession while 99% are preparing for a recession in the European Union.

David Solomon, CEO of Goldman Sachs, said this week that there is a good chance of a recession in the United States. Jamie Dimon, CEO of JP Morgan Chase recently warned A recession could hit the US economy in six months.

Famous investor Jim Rogers believes that a recession will be worst in his life. Gold Bug and Economist Peter Schiff to caution That the Fed’s actions could lead to a market crash, a massive financial crisis, and a severe recession.

Do you agree with Tesla CEO Elon Musk on the global recession? Let us know in the comments section below.

Kevin Helms

Kevin, an Austrian economics student, found Bitcoin in 2011 and has been a missionary ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

photo credits: Shutterstock, Pixabay, Wikicommons

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