Bill Gates has been outspoken about the Russia-Ukraine war and its economic implications for the world.
Bill GatesMicrosoft company founder and one of the most influential billionaires in the worldraised the alarm for the economic crisis resulting from the Russian-Ukrainian war. and has provided some Advice know how to face the difficult future.
Beyond his business, Gates has become one of the voices heard came forward talking about the coronavirus pandemic at the moment. Since then, the world has heard his warnings of what will happen, as is the case now rising energy and food prices.
War, prices and debt
The American tycoon explained in an interview with CNN that this current economic situation adds to the already existing pandemic, “in which public debt levels were already very, very highand there were already problems in the supply chain. “
The President of Ukraine Volodymyr Zelenskiy. Photo: Reuters
Also, in the same line, he noted: “It is likely that it will speed up the problems inflation that the economies of the rich world have, and which forces an increase in interest rates which ends up causing an economic slowdown ”.
Gates’ reflection also coincides with the statements of other US leaders, such as the Treasury Secretary Janet Yellenwho assured last April that Russia’s attacks on Ukraine will have “enormous economic repercussions for the world”.
Given this situation, for example, Gates was blunt: “I’m afraid the pessimists have a pretty strong argument that worries me a lot.”
Tips from Bill Gates
Faced with the dramatic situation that is looming, the billionaire has given advice on how to prepare. And he did it based on his personal experience at the helm of Microsoft.
Bill Gates was pessimistic about the future of the world economy. Photo: Bloomberg
“You can be optimistic in the long term only if you are pessimistic enough to survive in the short term”he has declared.
To clarify his quote, Gates remarked: “It would be save as a pessimisthaving a good cheap mattress, and invest with optimism“.
Cryptocurrencies and the theory of stupidity
Bill Gates takes this opportunity to emphasize his disagreement with the cryptocurrency market and companies associated with these digital assets. And it has recently hit the non-fungible token (NFT) market as well.
“I’m worried about people who get carried away and don’t have a lot of money to spare, so I’m not optimistic about bitcoin,” said the Microsoft founder in the midst of Bitcoin’s downfall.
In the midst of the itcoin crisis, Gates targeted cryptocurrencies. Photo: Reuters.
According to Gates’ gaze, the rise of cryptocurrencies is based on the theory of stupiditysomething like the “there is always someone dumber than you” theory.
The expression is widely used in stock markets, and is based on a principle that is as basic as it is easy to understand: you can make money if you buy an overvalued stock because it will always be there. “someone dumber” willing to pay a higher price.
Source: Clarin
