We’re Already In Recession, Until 2024
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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