Arthur J. Villasanta – Fourth Estate Contributor
Redmond, WA, United States (4E) – Microsoft co-founder and billionaire Bill Gates has a chilling prediction for the world – a new global recession is coming, and soon.
Gates, who has a net worth of $93 million making him the second richest person on Earth behind Amazon founder Jeff Bezos, predicted that Americans should expect another financial crisis similar to that of the Great Recession of 2008 that ruined the United States economy and most of the world. The Great Recession was the worst economic downturn since the Great Depression of 1929.
Asked the question, “Do you think in the near future, we will have another financial crisis similar to the one in 2008?” Gates replied with a warning.
“Yes. It is hard to say when but this is a certainty,” answered Gates. “Fortunately we got through that one reasonably well.”
He also said that despite “this prediction of bumps ahead, I am quite optimistic about how innovation and capitalism will improve the situation for humans everywhere.”
Gates has earlier said during a that “it (a Great Recession) doesn’t happen automatically.”
“It’s because people care,” he said. “It’s because of scientific inventions.”
The Great Recession saw 8.8 million jobs lost in the USA. The net worth of households across the country fell by more than $19 trillion, and the number of homeless families soared.
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