In his warning for the global economy, Venture Capitalist Chamath Palihapitiya expressed that a side recession is approaching.
In a recent interview with All-In-Podcast, Palihapitiya stated that the world is experiencing a supply-side recession, which is the first part of the process. “We have entered a supply-side recession,” Palihapitiya said. This is what creates inflation. We have to go through the process of getting all the excess money entered. When you do, we will destroy the request. It will trigger a demand-side recession and destroy asset values.” he said.
Palihapitiya said,” I think we are still in the early stages. I hate to deliver bad news. But I think we are still in the first part of this process because, generally speaking, people still have a lot of savings due to all the stimulus checks. There is still a lot of money.” he used his statements.
Palihapitiya: People Have Become Criminals!
Palihapitiya said several indicators show when these savings are exhausted and that the global economy is about to enter the second phase of recession. The name in question states, “People being more motivated to re-enter the workforce and failing to pay off their loans are two different signals because people used their savings, then used their credit cards, and finally suddenly became criminals.”.
Palihapitiya said, “When all this happens, you are probably at a point where the first phase of supply-side problems is largely completed, and now you are reaching demand breakdown.”
