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Elon Musk Predicts A Recession Is Coming In 2022

elon musk
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EDITOR'S NOTE: Making predictions is not something that humans are designed to do. We’re crappy at it, especially when it comes to economics. It goes without saying, elevating prognostication to the level of a business should best be left to the realm of carnivalesque entertainment. Yet, the Fed has been dabbling in such soothsayer spectacle for years, inflating bubble after bubble, while conjuring the “impression” of the opposite. Remember the word “transitory”? Either the American public is agreeing to suspend its own disbelief or it simply can’t distinguish trickery from truth. As Elon Musk points out below, it’s about following ‘principles,’ not making ‘predictions.’ As Musk comes to show, the former makes the economy a more functional reality, while the latter renders America’s foolhardy optimism a trap for government servitude.

We sure hope Elon Musk today is paying attention to what Elon Musk a month ago was saying.

That's because about a month after suggesting that a global recession could force SpaceX into bankruptcy, Musk has predicted that the next severe global recession could be on its way soon. 

Responding to a Tweet about there being 936 startups valued at more than $1 billion today, Musk wrote: "If history is any guide, not many will make it past the next recession."

When further asked about when he thought the next recession would be, Musk said"Predicting macroeconomics is challenging, to say the least. My gut feel is maybe around spring or summer 2022, but not later than 2023."

Recall, it was just about a month ago that Musk casually chided that SpaceX could face bankruptcy during the next recession. 

"If a severe global recession were to dry up capital availability / liquidity while SpaceX was losing billions on Starlink & Starship, then bankruptcy, while still unlikely, is not impossible," Musk Tweeted back on November 30.

Back in November, Musk was responding to a report citing an alleged email from Musk to SpaceX employees, wherein Musk voiced "grave concerns about the Raptor engine used by its Starship craft," RT reported

The leaked email reportedly says: “Unfortunately, the Raptor production crisis is much worse than it had seemed a few weeks ago...will need all hands on deck to recover from what is, quite frankly, a disaster.”

Originally posted on Zero Hedge.

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