Elon Musk has said: I think 2023 is going to be quite a serious recession, and it's going to be comparable to 2009

1/15/2023

Elon Musk has said: I think 2023 is going to be quite a serious recession. It's going to be, in my opinion, comparable to 2009.

"It does seem like we're headed into a recession here in 2023," Musk said during an episode of the "All-In Podcast" released on December 24.

"My best guess is that we have stormy times for a year to a year and a half, and then dawn breaks roughly in Q2 2024," he added.

"I really advise people to not have margin debt in a volatile stock market," he continued. "If there's mass panic in the stock market, then you've got to really be careful about margin debt."

Hope for the best, prepare for the worst," he said. "Don't get too adventurous. From a cash standpoint, keep powder dry."

Elon Musk previously said that the Fed must cut rates ‘immediately’ to stop a severe recession.