WATCH: Elon Musk Predicts Recession—What YOU Can Do To Stay Ahead

We continue to hear whispers of a looming recession…

Record inflation, tightening interest rates in response, and 2 years of economic lockdowns seem to be catching up with the global economy.

Elon Musk has joined the growing voices warning of a coming recession and provides some simple, common-sense advice on how to weather the storm.

Avoiding margin debt and keeping a sizable amount of cash are his two pieces of advice.

Musk continued by saying that he does not know if this coming economic recession will be a little better or worse than the 2008-2009 financial crisis, but he believes the fallout will be comparable.

Here’s what we had to say:

🚨 @elonmusk predicts recession in 2023.

Economy will start to turn around in Q2 of 2024.

His advice?

Avoid margin debt and stock up on cash. pic.twitter.com/awHgK3X0BD

— ALL-IN TOK (@all_in_tok) December 26, 2022

“I don’t know if it’s gonna be a little worse or a little better, but I think, in my view, is going to be comparable.”@ElonMusk, CEO of #Tesla and #Twitter, believes the next #Recession will be comparable to the global financial crisis of 2008–09. https://t.co/wshWx1A0Rt

— The Epoch Times (@EpochTimes) December 23, 2022

In response to the looming recession Musk made this promise, according to NTD News:

On Thursday, he promised not to sell any more stocks for the next two years.

“You have my commitment that I won’t sell stock until, I don’t know, probably two years from now. Definitely not next year under any circumstances and probably not the year thereafter,” Musk said.

Musk said he needed to sell some of his stock “to make sure, like, there’s powder dry … to account for a worst-case scenario.” The phrase “powder dry” means to always be prepared to take action yourself.

 

Billionaire @ElonMusk predicted a “serious recession” in 2023 and promised not to sell #Tesla stock next year “under any circumstances.”

Musk also assured investors @Tesla hadn’t “skipped a beat on execution” since he took over #Twitter. https://t.co/2RRGSyeEZY

— The Epoch Times (@EpochTimes) December 23, 2022

@elonmusk joined a Twitter Spaces call today. Key takeaways:
1/ Elon won’t sell more $TSLA shares for 18-24 months
2/ Board open to share buyback but depends on severity of recession
3/ TSLA is executing near flawlessly
4/ Elon believes we will enter 2009-like recession in 2023

— Gary Black (@garyblack00) December 23, 2022

Federal Reserve interest hikes were discussed by NOQ Report:

Policymakers at the Federal Reserve voted at their last monetary policy meeting on Dec. 14 to hike the benchmark federal funds rate by 50 basis points to a target range of 4.25–4.5 percent, the highest level since late 2007. It was the seventh consecutive rise since March, totaling 425 basis points.

Fed Chair Jerome Powell said at a press conference after the meeting that the fight against inflation has a long way to go. Most officials expect rates to rise over 5 percent next year, which is more than originally predicted.

“I wouldn’t see us considering rate cuts until the committee is confident that inflation is moving down to 2 percent in a sustained way,” Powell said.