Elon Musk says the US economy is probably in a recession and it could be tough going for 12 to 18 months. inflation
Elon Musk: US Economy Is Probably in Recession That Could Last 18 Months — Warns It 'Will Get Worse'
Tesla and Spacex CEO Elon Musk says that the U.S. economy is probably in a recession and it could be “tough going” for 12 to 18 months. He added: “The honest reason for inflation is that the government printed a zillion more money than it had.”Elon Musk, the CEO of Tesla and Spacex, talked about the U.S. economy on the All-In podcast, published Monday.
He added that 12 to 18 months is roughly the amount of time for a correction to happen. Recession fears have escalated recently as the Federal Reserve tightens monetary policy to help cool down inflation. Musk explained that in his opinion, recessions are not necessarily a bad thing, emphasizing that he’s been through a few of them in his time at public companies. “What tends to happen is, if you have a boom that goes on for too long, you get misallocation of capital — it starts raining money on fools, basically,” he described.The honest reason for inflation is that the government printed a zillion more money than it had … This is not like, you know, super complicated.
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