Richest Man in the World Says Recession is Good for America…Here’s Why
Freedom Wire

Richest Man in the World Says Recession is Good for America…Here’s Why

Personally speaking, I don’t think that there is really any doubt that a recession is upon us. We may very well be going through it right now and just don’t have the data to prove it yet though.

The stock market his bear market territory this month, but did make a little bounce, but it may be headed right back down.

I don’t need to remind you about the prices of everything and how high they are. I just went and filled up my wife’s gas tank this morning and it took $55, and she almost had a quarter of a tank left! It’s ridiculous.

But maybe a recession isn’t a bad thing in the long run. According to Elon Musk, who happens to be the richest man in the world, it is a good thing.

Yes, but this is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen.

Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!

I’m not going to lie, this does sound like a good way to straighten some people out. One of the biggest reasons we have for all of the crime that we’ve had over the last few years is because of all of the free money that the government has been handing out. Maybe a recession is a good way to get that back down.

Elon also gave his estimation of how long he thinks this recession would last.

Based on past experience, about 12 to 18 months. Companies that are inherently negative cash flow (ie value destroyers) need to die, so that they stop consuming resources.

Hopefully, the Fed doesn’t decide to keep printing money to “help us” get through a recession like they’ve done in the past. That would only lead to more inflation and make us all poorer in the long run.

Written by Jon Archer - May 30, 2022