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US investor warns new Great Depression is coming, Elon Musk agrees with fears
A new Great Depression is coming in the United States! This statement was made by American entrepreneur Catherine Wood, known for her talent to buy only the most profitable shares. The woman expressed her concern about the current situation in the US banking sector. According to her, very soon the United States will begin to experience not the best times.
It is interesting that Wood was supported by well-known businessman Elon Musk. What caused such fears, we find out later in the article.
To understand what awaits the United States of America now, you need to remember what the Great Depression was and when it was. This is a period of economic crisis that occurred in the United States in the 1930s. It began after Black Thursday, October 24, 1929, when the New York Stock Exchange crashed, and continued until the outbreak of World War II in 1941.
During the Great Depression, there were massive bankruptcies of companies and banks, many businesses closed, and a sharp jump in domestic and international trade. All this led to a sharp decline in production and living standards of the population. People were losing jobs, many were literally on the street, without a roof or food.
In response to the economic crisis, the government took a number of measures. For example, there has been an increase in government spending on public works and social assistance. In addition, there were programs to support agriculture and financial assistance to banks.
The most famous program is President Franklin Roosevelt’s New Deal. It included a number of social and economic programs aimed at creating new jobs and supporting small businesses.
The Great Depression seriously affected the economy not only of the United States, but of the whole world. It has led to increased unemployment and poverty, and has caused changes in U.S. domestic policy. For example, citizens have more rights, the role of the state in the economy has increased.
Is all this waiting for the United States today? Let's figure it out!
Recently, businesswoman Catherine Wood shared on Twitter interesting thoughts. According to her, the approach of the economic crisis in the United States is inevitable. However, the financiers had to prepare for it in advance.
Instagram/@cathiewoodofficial But that didn't happen. The woman noted that the approach of the crisis was indicated by the mismatch between the duration of assets and liabilities caused by the rapid growth of short-term rates against the background of a simultaneous reduction in the number of deposits. Wood also recalled that this is the first time such a situation has developed since the 1920s.
The entrepreneur was supported by Elon Musk, who also compared the current situation in the United States with what the country began to experience in 1929. Disappointing forecasts came after three major banks declared bankruptcy within a week. Silvergate, Silicon Valley Bank (SVB) and Signature Bank. By the way, the collapse of the SVB can have bad consequences for Ukraine.
The world economy faces serious challenges due to the COVID-19 pandemic, as well as various military conflicts (for example, the war in Ukraine) and natural disasters. All this leads to instability and uncertainty in financial markets.
The U.S. faces economic challenges such as rising unemployment and declining production. They could lead to a recession. But the U.S. government and the Federal Reserve are taking steps to support the economy, for example by issuing stimulus packages.
Thus, the economic situation in the country and the world remains unstable and requires vigilance on the part of the government and the population. What the future holds for America, time will tell. But one thing is certain: it will certainly entail a lot of unpleasant consequences for the whole world.
I wonder what you think about that?
It is interesting that Wood was supported by well-known businessman Elon Musk. What caused such fears, we find out later in the article.
To understand what awaits the United States of America now, you need to remember what the Great Depression was and when it was. This is a period of economic crisis that occurred in the United States in the 1930s. It began after Black Thursday, October 24, 1929, when the New York Stock Exchange crashed, and continued until the outbreak of World War II in 1941.
During the Great Depression, there were massive bankruptcies of companies and banks, many businesses closed, and a sharp jump in domestic and international trade. All this led to a sharp decline in production and living standards of the population. People were losing jobs, many were literally on the street, without a roof or food.
In response to the economic crisis, the government took a number of measures. For example, there has been an increase in government spending on public works and social assistance. In addition, there were programs to support agriculture and financial assistance to banks.
The most famous program is President Franklin Roosevelt’s New Deal. It included a number of social and economic programs aimed at creating new jobs and supporting small businesses.
The Great Depression seriously affected the economy not only of the United States, but of the whole world. It has led to increased unemployment and poverty, and has caused changes in U.S. domestic policy. For example, citizens have more rights, the role of the state in the economy has increased.
Is all this waiting for the United States today? Let's figure it out!
Recently, businesswoman Catherine Wood shared on Twitter interesting thoughts. According to her, the approach of the economic crisis in the United States is inevitable. However, the financiers had to prepare for it in advance.
Instagram/@cathiewoodofficial But that didn't happen. The woman noted that the approach of the crisis was indicated by the mismatch between the duration of assets and liabilities caused by the rapid growth of short-term rates against the background of a simultaneous reduction in the number of deposits. Wood also recalled that this is the first time such a situation has developed since the 1920s.
The entrepreneur was supported by Elon Musk, who also compared the current situation in the United States with what the country began to experience in 1929. Disappointing forecasts came after three major banks declared bankruptcy within a week. Silvergate, Silicon Valley Bank (SVB) and Signature Bank. By the way, the collapse of the SVB can have bad consequences for Ukraine.
The world economy faces serious challenges due to the COVID-19 pandemic, as well as various military conflicts (for example, the war in Ukraine) and natural disasters. All this leads to instability and uncertainty in financial markets.
The U.S. faces economic challenges such as rising unemployment and declining production. They could lead to a recession. But the U.S. government and the Federal Reserve are taking steps to support the economy, for example by issuing stimulus packages.
Thus, the economic situation in the country and the world remains unstable and requires vigilance on the part of the government and the population. What the future holds for America, time will tell. But one thing is certain: it will certainly entail a lot of unpleasant consequences for the whole world.
I wonder what you think about that?
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