Zinger Key Points
- Fed's inflation focus and hawkish stance have the potential to push the economy deeper into recession, economists have warned.
- Elon Musk concurs with the view but says Tesla and SpaceX are fairly insulated.
- Get real-time earnings alerts before the market moves and access expert analysis that uncovers hidden opportunities in the post-earnings chaos.
Dogecoin DOGE/USD co-founder Bill Markus observed on Twitter on Friday that incidences of COVID-19 have come down and were are actually “pretty low.” The impending global recession and the nuclear apocalypse are the latest worries, Markus suggested.
In reply, Tesla Inc. TSLA CEO Elon Musk tweeted that he hoped it would be a hassle-free year.
It sure would be nice to have one year without a horrible global event
— Elon Musk (@elonmusk) October 21, 2022
The billionaire said he sees the probability of World War III happening as “still very unlikely,” but suggested that the current scenario is the closest the world has come to it since the Cuba missile crisis in 1962.
Still very unlikely, but this is the closest we’ve been since Cuba in ‘62
— Elon Musk (@elonmusk) October 21, 2022
Musk Has Dire Recession Warning: When the Twitter handle @teslaownersSV probed Musk as to how long the recession would last, the Tesla CEO said he thinks it would last until the spring of 2024.
Just guessing, but probably until spring of ‘24
— Elon Musk (@elonmusk) October 21, 2022
On the extent to which a potential recession can hurt, Musk said it was dependent on companies. Tesla and SpaceX are in good positions but many other companies are not, he said. “Recession do have a silver lining in that companies that shouldn’t exist stop existing,” he added.
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