Elon Musk admits there is a recession in the U.S.
According to the assessment of Ilon Musk, the recession in the United States, most likely, has already come, reports Bloomberg. He admitted that the country will face hard times, which may last for an unknown period of time - perhaps a year and a half. At the same time, he does not lose optimism, saying that several times he faced with recessions during his work, in his opinion, do not assume that this is necessarily a bad phenomenon. Musk explains the current situation as follows: if the rise continues for a long time, capital starts to be misallocated. He sees the causes of inflation in the U.S. in the fact that too much money was printed - a million more than the government had at the time. Economists questioned by Bloomberg disagree with this view; they estimate the likelihood of a recession at 30%. In their view, a 1.4% decline in the country's GDP in the first quarter is offset by the growth in consumer spending and business investment seen at the beginning of the year.