Elon Musk says inflation has peaked and 'is going to drop rapidly.' He also believes that we'll have a recession lasting about 18 months. ElonMusk Tesla
Tesla CEO Elon Musk Says Inflation Has Peaked — But We'll Have a Recession for 18 Months
Replying to a question about inflation, he explained: “We do get a fair bit of insight into where prices of things are going over time because when you’re making millions of cars, you have to purchase commodities many months in advance of when they’re needed … Because it’s a long supply chain with a tremendous amount of inertia, so we sort of have some insight into where prices are headed over time.
He explained: “We don’t have fundamental capital misallocations in the U.S. as we have had in the past, like leading up to 2008 where we were building primary housing units at twice the rate of household formation which obviously doesn’t make sense. A lot of companies were over-levered.”
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