According to Microsoft co-founder Bill Gates, America could face another financial crisis on the scale of the 2008 Great Recession.
During a red-dot Ask Me Anything last week, Gates was asked if he thought America would see another big financial crisis. He said yes. It's hard to say when, but that's a certainty. "
The financial crisis of 2007-2008 came with a crisis in the subprime mortgage market in the US, but grew into the Great Recession, its impact felt worldwide for several years, and many economists consider this the worst financial crisis since The financial crisis of 2008 has cost America millions of jobs, and many still feel the aftermath. "One decade after the recession, an estimated one in three Americans has not recovered, according to] While Gates says we should prepare for another crisis, he's optimistic that we can recover
"Fortunately, we've weathered that pretty well."
At the end of the Ask Me Anything session, Gates said: "Despite this prediction of bumps, I'm pretty optimistic about how innovation and capitalism will practice the situation for people improve all over.
Gates also mentioned his friend, billionaire Warren Buffett, "Warren has talked about it and he understands this area much better than me."
In an optimistic commentary, Buffett for TIME magazine In January, Buffett says that, in general, "most American children will live much better than their parents" and that "huge gains in Americans' living standards will continue for many generations.
According to CNBC Buffett's advice for 2016 is still the best way to weather an economic or financial crisis: do not buy, hold, or look too much at your investments.
Said Buffett: "If If you do not want to own stocks for ten years, do not even think about owning them for ten minutes. "