Elon Musk, the world’s richest man, says a US recession would be a ‘good’ thing
The IndependentSign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Tech titan Elon Musk took to Twitter recently to share yet another controversial take, this time espousing his belief that a recession would be “good” for the American economy. Writing late Thursday night in response to a Twitter user’s question about whether the US was headed towards another recession, the Tesla CEO replied with an emphatic, “Yes”. “Some bankruptcies need to happen.” The SpaceX founder’s late-night remarks arrive just weeks after he’d made a speculative prediction that the US was “probably” headed for another recession, which by his estimates would last a year to a year and a half. “Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard,” he tweeted, before adding, “Rude awakening inbound!” Musk, a frequent critic of government overreach, who memorably said that he’d file a lawsuit if his Tesla company was unable to reopen when Covid-19 shutdowns forced him to close the doors on his factories, has also been a vocal opponent of government subsidies.