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It’s hard to say when but this is a certainty’: Bill Gates warns another financial crisis is coming like the 2008 Great Recession
It’s hard to say when but this is a certainty’: Bill Gates warns another financial crisis is coming like the 2008 Great Recession
- Bill Gates participates in a Reddit ‘Ask Me Anything’ and ansered a question about if America will see another financial crisis like in 2008
- He said it is certain there will be another, but it is hard to tell exactly when
- However, he added, America, and the world’s economy is bright in the long-term
Bill Gates, who participated in a Reddit ‘Ask Me Anything’ says that a financial crisis similar to the 2008 Great Recession is a certainty in the near future.
When the recession hit in 2008, millions of Americans lost their jobs, and it took years for the economy to recover, with people and industries still seeing ripple effects.
According to Microsoft co-founder Bill Gates another one is heading to the USA, but he has a more positive spin on it.
Gates was asked if, in the near future there will be a similar crisis to the one in 2008, and he responded: ‘Yes. It is hard to say when but this is a certainty,’ according to CNBC.
Bill Gates says America will certainly see another financial crisis similar to the Great Recession of 2008, it is just a matter of when
Traders work on the floor of the New York Stock Exchange moments after the opening bell December 12, 2008 in New York City. Millions of Americans lost their jobs
Bill Gates participated in a Reddit Ask Me Anything and was asked about the possibility of another American financial crisis
He added, ‘Fortunately, we got through that one reasonably well. Warren has talked about this and he understands this area far better than I do.’
Both Warren and Gates, who are longtime friends, have been optimistic about the economy in general.
Buffet has said years of growth ‘certainly lie ahead,’ and ‘most American children are going to live far better than their parents did.’
A trader at the Chicago Mercantile Exchange reacts to the plummeting market on September 15, 2008
The recession had bankrupt financial firm employees packing up their offices, Lehman Brothers employee pictured above in New York
Employees of a bankrupt financial firm leave a London office with their possessions in hand
The recession caused millions to lose their jobs as companies went bankrupt, Lehman Brothers employee pictured above leaving the New York office with his possessions in a box
Sent packing: Cut workers leave their offices with boxes in tow during the financial crisis
Despite the warning, both Gates and his longtime friend Warren Buffett are generally optimistic about the U.S. economy.
In an essay for Time magazine, Buffett stated that years of growth ‘certainly lie ahead,’ and ‘most American children are going to live far better than their parents did.’
Gates concluded his Reddit AMA response by saying, ‘Despite this prediction of bumps ahead, I am quite optimistic about how innovation and capitalism will improve the situation for humans everywhere.’……………….More Here
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