Commercial real estate debt and mortgages are a ‘serious’ threat to the economy, warns the serial entrepreneur and billionaire.
The banking crisis caused by the sudden collapse of Silicon Valley Bank (SVB) on March 10 continues.
But for Elon Musk, the serial entrepreneur and billionaire, new problems are already looming over the financial system and the economy.
On March 10, regulators had to shut down SVB, resulting in the second-biggest bank failure in American history, after the collapse of Washington Mutual in the financial crisis of 2008.
Source : Elon Musk warns of possible replay of 2008 financial crisis