Elon Musk says a global recession could last until the spring of 2024 (2 min read)
In a twitter exchange on Friday, Elon Musk said he thinks the recession will last another year and half. Jeff Bezos, CEO of Goldman Sachs and JPMorgan Chase had also recently warned of economic turmoil ahead. Global GDP growth was at 6.1% last year and the IMF forecast it will decelerate to 3.2% this year and 2.3% in 2023, which makes it the weakest pace of growth since 2001. Elon said he has more confidence in the US economy than other parts of the world like China or Europe. China’s recession is driven by the real estate market while Europe is driven by energy.