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

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 silver lining for those companies that shouldn’t exist,” the Tesla boss said.

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 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 a year without a horrible global event,” Musk commented.

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

The same Twitter user followed up by asking, “How much worse do you think it’s going to get? A little worse or a lot worse?” Musk replied:

It varies a lot. Tesla and Spacex are in good positions, but many other companies are not. Recessions have a silver lining for companies that shouldn’t 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 some kind of energy-driven recession.” In the meantime, he noted, “North America is in good health, although the Fed is raising interest rates more than they should, but I think they will eventually figure that out and lower them again.”

In August, Musk said that inflation had peaked, but that we will have a recession from then on. 18 months.

Many people expect the US economy to sink into a recession. newly exploratory study It shows that 98% of CEOs are preparing for a recession in the US, 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.

Famed investor Jim Rogers believes a recession is coming worst in his life. Gold Bug and economist Peter Schiff warn That the Federal Reserve’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.

kevin helms

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

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