Elon Musk: We’re Already In Recession, Until 2024

By Vasantha

October 25, 2022

Elon Musk, CEO of Tesla and SpaceX, believes that the current recession may be the longest since the world financial crisis more than ten years ago.

Elon Musk Believe

The wealthiest man in the world said on Thursday when asked how long an economic downturn would last: "Probably until spring of '24."

Elon Musk Statement

Musk said that these incidents are necessary to cleanse the market of alleged malinvestments, which shakes out weak company concepts.

Musk Malinvestments Concept

During economic booms, these poor investments slowly accumulate as capital chases greater marginal profits.

Poor Investments Companies

The cost of money, determined by policymakers at the world's central banks, is a significant factor taken into account by investors.

Cost of Money

The U.S. Federal Reserve, had its foot on the gas pedal until recently, trying to delay the regular economic cycle downturn.

Federal Reserve Efforts

Since the global financial crisis, officials have given the economy an unprecedented amount of stimulus to avoid a recession. 

This stimulus has taken the shape of trillions of dollars in newly produced money, as well as fiscal actions like corporate tax cuts and pandemic checks.

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