The global economy is facing a difficult year

The global economy is facing a difficult year! Many companies will go bankrupt!

On Tuesday, May 16th local time, Tesla CEO Elon Musk stated at a shareholders' meeting that he expected the global economy to face a "difficult year" and that "many companies" would go bankrupt. He also stated that the electric vehicle manufacturer could not avoid the impact of the economic downturn, despite his plans to launch two new products for Tesla in the future.

Musk predicts that the macroeconomic situation will be difficult for at least the next 12 months. He said, "I think we will see many companies go bankrupt. It is important to understand that no company is immune to the impact of the macroeconomic environment

But the outlook will not always be dark. I predict that this may be a difficult year for everyone around the world. My best guess is that the global economy will turn around in about 12 months. "Musk said," Tesla will be in a very favorable position. Therefore, I believe any long-term investor will do very well

This is not the first time Musk has issued a warning about the health of the global economy. Last month, he warned on Twitter that the US economy was already in a "mild recession" and further interest rate hikes by the Federal Reserve would trigger a "severe recession".

US retail giants are in a "store closure wave"! Or close 50000 stores!

According to CNN, Wal Mart, Nordstrom and other retailers will continue to close stores in the United States this year, and there are complex reasons behind this.

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According to the plan, Wal Mart will close about 20 stores in the United States this year; Nordstrom will close 15 stores. The chain pharmacy CVS announced in 2021 that it will close 900 stores within three years. According to UBS's report this year, 40000 to 50000 retail stores in the United States will close in the next five years.

Some government officials, including the Mayor of New York, pointed out that the surge in retail store theft cases is the main reason for the large number of closures by businesses. When Walgreen decided to close five stores in San Francisco in 2021, he also mentioned the impact of frequent theft. According to a survey by the American Retail Federation of about 60 retail member companies, frequent theft has become the factor causing the most losses to these retailers in recent years.

However, some analysts believe that the lockdown trend has been ongoing for many years and is not closely related to crime rates, with supply and demand being the most crucial. Under the influence of the COVID-19, teleworking in the United States is rapidly popularized.

According to data from the US Census Bureau, the number of people working from home in the United States increased from 9 million to 27.6 million between 2019 and 2021, which has dealt a blow to many downtown shopping malls as office workers are the main customer group in these areas. A study by Stanford University shows that the average American office worker now spends $2000 to $4600 less per person per year in the city center compared to before the pandemic.

Online shopping also continues to put pressure on offline retail. According to data from the US Census Bureau, in the fourth quarter of last year,