Elon Musk Discusses U.S. Recession
Tesla and Spacex CEO Elon Musk shared his thoughts on the U.S. economy and the upcoming recession in a series of tweets Thursday.
Responding to a question about whether “we’re approaching a recession,” he answered: “Yes.” However, Musk noted, “this is actually a good thing.”
The Tesla boss explained that “It has been raining money on fools for too long,” stressing that “some bankruptcies need to happen.” He elaborated: “All the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!”
His recession tweet followed a statement he made last week, stating that the U.S. economy is “probably” in a recession. He warned that things “will get worse,” and estimated that the recession could last 12 to 18 months.
“The honest reason for inflation is that the government printed a zillion more money than it had,” Musk further commented.
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