The signs don't point in a positive direction for the global economy according to Bill Gates.
Gates said in an interview that he was worried about inflation. The billionaire investor and Microsoft co-founder said that high government debt levels caused supply chain shortages that made the economy worse.
Gates told CNN that it is likely to accelerate the inflationary problems that rich world economies have and force an increase in interest rates that eventually will result in an economic slowdown.
The bear market is one of the things we don't live on Wall Street. A bear investor is someone who bets against stock prices rising in order to make a profit. Gates thinks the pessimists are just being realistic.
This could explain Gates' short stock position againstTesla, which caused a public beef between himself and Musk. If Gates really believed in fighting climate change, Musk would bet on the side of an eco-friendly company.
According to the new CNN interview, Gates may not have it out forTesla. Why would a bear investor bet that prices would go up?
The average person wouldn't be surprised by Gates' words. It doesn't take a genius to see everyday goods cost more than ever.
Gates reminded viewers that it wasn't just about the numbers, but the people as well, because federal interest rates and inflation are connected. He worried that a downturn in the economies of wealthy countries could have a cascading effect on poor countries.
He said that it was important to keep the economy strong in order to face future Pandemics.
If we are going to be serious about preventing the next Pandemic, we need to increase investments in health systems, which will help shrink the health gap between the rich and the poor.
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