Bijie.com Report:
Billionaire hedge fund manager Paul Tudor Jones has stated that the United States will face a financial collapse if the government does not control its spending.
During an interview with CNBC, the founder of Tudor Investment Corporation stated that in order to control the US fiscal deficit, either government spending must be significantly reduced or taxes must be increased.
However, Jones believes that presidential candidates Donald Trump and Kamala Harris are “the least suited for the job in front of them” and may not be prepared or willing to make necessary adjustments, which could potentially include a 20% reduction in federal workforce.
“Unless we seriously address the spending issue, we will go bankrupt soon. I don’t know if we can cut that much spending…
What I mean is, in order to stabilize the debt-to-GDP ratio at its current level, what you need to do is, you need to let Trump’s tax cuts expire, which is $390 billion. You need to raise everybody’s payroll tax by 1%, that’s another big issue… We are clearly going to go through a contraction period, hopefully—this is why I say the Federal Reserve offsetting the coming fiscal contraction is going to be so important.”
Jones added that he “doesn’t want any of this,” but the US needs to seriously address its fiscal situation.
Expressing a pessimistic outlook on the US financial situation, Jones stated, “All roads lead to inflation,” which provides strong reasons for gold and Bitcoin (
BTC
).
“I’m long gold, I’m long Bitcoin, I think the ownership of commodities is ridiculously low, so I’m long commodities. I think most young people are finding their inflation hedge through Nasdaq, which is great. I probably have a basket of gold, Bitcoin, commodities, and Nasdaq, something like that. My fixed income is zero. If I have cash, that’s a very short-term thing.”
Don’t miss a beat—
Subscribe
Receive email alerts right to your inbox
Check
Price Action
Follow us on
Ten,
,
Facebook
, and
Telegram
Surf
Daily Hodl Mix
Generate Image: DALLE3
