HomeCryptoElon Musk Guesses Recession Will Last Until 2024

Elon Musk Guesses Recession Will Last Until 2024

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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