Elon Musk predicts how long the global recession will last

Elon Musk predicts how long the global recession will last

Billionaire Elon Musk released a harsh prediction amid the current economic backdrop. The CEO of Tesla and Space X gave a date for the duration of the recession and how serious this scenario will be

The CEO of Tesla and Space X Elon Musk warned about the current economic situation worldwide. The billionaire said that many of the world’s major economies are already in recession and predicted how long this scenario will last.

It all started with an exchange of tweets between Musk and the creator of the Dogecoin cryptocurrency Billy Markus in recent days, where the latter compared the current economic context with that which occurred during the toughest moments of the Covid-19 pandemic.

“Wow, the coronavirus numbers are pretty low I guess all we have to worry about now is the impending global recession and nuclear apocalypse,” he wrote.

Musk later responded: “Sure it would be nice to have a year without a horrible global event.”

Moments later, he was asked by the Tesla Owners Silicon Valley Twitter account how long the recession would last and how severe this scenario would be.

?I was just guessing, but probably until the spring of the 24th?Varies a lot. Tesla and Space X are in good positions, but many other companies are not. Recessions have a silver lining in that companies that shouldn’t exist cease to exist,? he wrote.

Musk’s comments follow his statement on the state of the global economy on Tesla’s quarterly earnings call. On that occasion he said that China is experiencing “a kind of recession”, while Europe is experiencing “a kind of energy-driven recession”.

In early June, Musk said that he had a ?super bad feeling? on the current and future state of the US economy, according to an email sent to executives at his car factory. In addition to that, he announced the dismissal of 10% of Tesla employees justifying “overstaffing”.

Musk has not been the only one to raise the alarm about a recession. Amazon founder Jeff Bezos backed up a prediction by Goldman Sachs CEO David Solomon. “Yeah, the odds in this economy tell you to batten down the hatches,” he said in days gone by.

Musk’s comments follow his statement on the state of the global economy on Tesla’s quarterly earnings call. On that occasion he said that China is experiencing “a kind of recession”, while Europe is experiencing “a kind of energy-driven recession”.

In early June, Musk said that he had a ?super bad feeling? on the current and future state of the US economy, according to an email sent to executives at his car factory. In addition to that, he announced the dismissal of 10% of Tesla employees justifying “overstaffing”.

Musk has not been the only one to raise the alarm about a recession. Amazon founder Jeff Bezos backed up a prediction by Goldman Sachs CEO David Solomon. “Yeah, the odds in this economy tell you to batten down the hatches,” he said in days gone by.

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