The global recession will probably last until the spring of 2024, guessed Tesla CEO Elon Musk over Twitter on Friday.
- The billionaire cast his prediction in response to Dogecoin creator Billy Markus, who made a tweet joking about an “impending global recession,” and “nuclear apocalypse.”
- Musk replied that it would be nice to have one year without any “horrible global event.”
- Another account – Tesla Owners Silicon Valley – then asked the billionaire how long the recession will likely last. “Just guessing, but probably until spring of ’24,” said Musk.
- When asked to elaborate on the severity of that recession, Musk claimed it will be different depending on the companies and circumstances involved.
- “Tesla & SpaceX are in good positions, but many other companies are not,” he said. “Recessions do have a silver lining in that companies that shouldn’t exist stop existing.”
- Some groups are still in disagreement about whether the world is in a recession already. However, many believe that if we’re not in one now, then it’s certainly coming down the pipe if the Federal Reserve continues raising interest rates.
- Stanley Druckenmiller predicted last month that the Fed will be forced to cause a recession by the end of 2023, in order to quell inflation.
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