Posted by on June 21, 2022 8:34 am
Categories: Breaking News Epoch Times News

Musk Says US Recession ‘Inevitable at Some Point,’ Likely to Happen in Near Term

Tesla CEO Elon Musk has said a recession is “inevitable at some point” and is most likely to happen in the near future, contradicting remarks by Biden administration officials who remain insistent that an economic downturn is not on the cards.
“A recession is inevitable at some point. As to whether there is a recession in the near term, that is more likely than not,” Musk said in an interview with Bloomberg News Editor-in-Chief John Micklethwait at the Qatar Economic Forum in Doha on Tuesday.
“It is not a certainty, but it appears more likely than not,” Musk said.
Musk’s comments are in stark contrast to those made by President Joe Biden, who last week told The Associated Press that a U.S. recession is not “inevitable,” while touting the nation as being in a “stronger position” than any other country in the world to overcome sky-rocketing inflation levels….

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