Elon Musk, CEO of Tesla and SpaceX, believes the US economy is in a recession and that it will be 'difficult going' for the next 12 to 18 months. 'The true cause for inflation is that the government printed a billion more dollars than it had,' he said.
Lloyd Blankfein, the former CEO of Goldman Sachs, has advised that businesses and consumers in the United States should prepare for a downturn. He emphasized that the risk is 'extremely high.'
The American economy continues to look bleak, and indicators of an impending recession continue to emerge. Goldman Sachs' chief economist stated last week in a note to clients that the bank views the "odds of a recession as around 15% in the next 12 months and 35% in the next 24 months." Additionally, John Mauldin, a prominent financial expert, states that he would not be surprised if the stock market plummeted by 40% this year, as he believes a recession is imminent.