According to Tesla CEO Elon Musk on Twitter on Friday, the global recession will likely last until the spring of 2024.
The billionaire made his prediction in response to Dogecoin creator Billy Markus, who joked about an “impending global recession” and a “nuclear apocalypse” in a tweet.
Musk responded that it would be nice to have a year free of “horrible global events.”
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 about the severity of the recession, Musk stated that it will vary 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 people are still debating whether the world is already in a recession. Many, however, believe that if we aren’t already in one, we will be if the Federal Reserve continues to raise interest rates.
Last month, Stanley Druckenmiller predicted that the Fed will be forced to cause a recession by the end of 2023 in order to control inflation.
To read our blog on “Elon Musk’s newest argument against canceling the Twitter deal,” click here
