{"id":64700,"date":"2022-05-29T09:00:43","date_gmt":"2022-05-29T09:00:43","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=64700"},"modified":"2022-05-29T09:00:43","modified_gmt":"2022-05-29T09:00:43","slug":"elon-musk-were-approaching-a-recession-but-its-actually-a-good-thing","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=64700","title":{"rendered":"Elon Musk: We\u2019re Approaching a Recession but It\u2019s \u2018Actually a Good Thing\u2019"},"content":{"rendered":"<p><img decoding=\"async\" width=\"696\" height=\"392\" src=\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/05\/musk-recession-1.jpg\" class=\"attachment-medium_large size-medium_large wp-post-image\" alt=\"Elon Musk Says We're Approaching a Recession But It's 'Actually a Good Thing'\" loading=\"lazy\"><\/p>\n<p><strong>Tesla CEO Elon Musk believes the U.S. economy is approaching a recession but he explained why it is \u201cactually a good thing.\u201d Musk has estimated that the upcoming recession will last 12 to 18 months.<\/strong><\/p>\n<h2>Elon Musk Discusses U.S. Recession<\/h2>\n<p>Tesla and Spacex CEO Elon Musk shared his thoughts on the U.S. economy and the upcoming recession in a series of tweets Thursday.<\/p>\n<p>Responding to a question about whether \u201cwe\u2019re approaching a recession,\u201d he answered: \u201cYes.\u201d However, Musk noted, \u201cthis is actually a good thing.\u201d<\/p>\n<p>The Tesla boss explained that \u201cIt has been raining money on fools for too long,\u201d stressing that \u201csome bankruptcies need to happen.\u201d He elaborated: \u201cAll the Covid stay-at-home stuff has tricked people into thinking that you don\u2019t actually need to work hard. Rude awakening inbound!\u201d<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-528751 aligncenter\" src=\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/05\/musk-tweet.jpg\" alt=\"\" width=\"808\" height=\"609\"><\/p>\n<p>His recession tweet followed a statement he made last week, <a href=\"https:\/\/news.bitcoin.com\/elon-musk-us-economy-is-probably-in-recession-that-could-last-18-months-warns-it-will-get-worse\/\">stating<\/a> that the U.S. economy is \u201cprobably\u201d in a recession. He warned that things \u201cwill get worse,\u201d and estimated that the recession could last 12 to 18 months.<\/p>\n<p>\u201cThe honest reason for inflation is that the government printed a zillion more money than it had,\u201d Musk further commented.<\/p>\n<p>A growing number of investment banks have warned about a recession. Goldman Sachs Senior Chairman and former CEO Lloyd Blankfein recently <a href=\"https:\/\/news.bitcoin.com\/goldman-sachs-blankfein-advises-companies-and-consumers-to-prepare-for-us-recession-says-its-a-very-very-high-risk\/\">said<\/a> we are heading towards a recession, advising companies and individuals to prepare for it.<\/p>\n<p>In addition, Blackrock, the world\u2019s largest asset manager, cautioned in a research note this week that the Federal Reserve\u2019s efforts to increase interest rates to offset record inflation may trigger a recession. \u201cIf they hike interest rates too much, they risk triggering a recession. If they tighten not enough, the risk becomes runaway inflation. It\u2019s tough to see a perfect outcome,\u201d Blackrock detailed.<\/p>\n<p><em><strong>Do you agree with Elon Musk that a recession is a good thing? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p class=\"wpematico_credit\"><small>Powered by <a href=\"http:\/\/www.wpematico.com\" target=\"_blank\" rel=\"noopener\">WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla CEO Elon Musk believes the U.S. economy is approaching a recession but he explained why it is \u201cactually a good thing.\u201d Musk has estimated that the upcoming recession will last 12 to 18 months. Elon Musk Discusses U.S. Recession Tesla and Spacex CEO Elon Musk shared his thoughts on the U.S. economy and the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":64701,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-64700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/64700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64700"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/64700\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/64701"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}