Tesla founder and CEO Elon Musk thinks the global economic mayhem could last for another year and a half.
In a Twitter early Friday morning, the electric car behemoth’s executive and world’s richest man said a recession could continue “until spring of ’24.”
The comments came in response to a tweet from Shibetoshi Nakamoto, the Dogecoin co-creator Billy Markus, who noted that current coronavirus figures “are actually pretty low. i [sic] guess all we have to worry about now is the impending global recession and nuclear apocalypse.”
“It sure would be nice to have one year without a horrible global event,” Musk replied.
“Tesla Owners Silicon Valley”, a Twitter account with nearly 600,000 followers asked Musk how long he thought the recession would last, to which he replied, “Just guessing, but probably until spring of ’24.”
Global GDP soared 6% in 2021 but is expected to plunge to 3.2% this year and 2.7% in 2023, according to the International Monetary Fund. If that happens, it would then be the weakest pace of growth since 2001 outside of the financial crisis in 2008 and the brief decline in the early days of the Covid pandemic. The Federal Reserve projects GDP in the U.S. to grow just 0.2% this year and 1.2% in 2023.