‘Some bankruptcies need to happen’: Elon Musk’s old recession quote resurfaces as US stock market struggles

In a world where economic cycles often oscillate between growth and contraction, comments made during one period can resurface with striking relevance in another. In May 2022, amid the post-COVID financial tremors, Tesla CEO Elon Musk described a recession as “a good thing,” arguing that it would cleanse the market of inefficiencies and poor investments. Fast forward to 2025, and global economic anxieties have returned—this time stoked by the ripple effects of aggressive new tariffs imposed by US President Donald Trump.

What was once a commentary on pandemic-era financial practices now finds new meaning amid warnings of a looming downturn.