If we continue coronavirus lockdowns for another year, the economy will be in a “Second Depression,” billionaire hedge fund investor Paul Tudor Jones says.
said Monday the economy would be in a "Second Depression" if the coronavirus pandemic doesn't get contained for another year.
With tears in his eyes, Jones said he wants to be able to tell his grandchildren, "when they ask me what did I do during the second depression, I would look them in the eye and I want to tell them I did more than I thought I could do." Jones, the founder and chief executive officer at Tudor Investment Corp, said because of how America feels about individual freedoms, the country may have trouble following contact tracing and other methods used by other countries to contain the virus quickly, such as China and South Korea.
After tumbling into the fastest bear market on record in March, stocks have bounced back swiftly from its low. The S&P 500 has come back more than 30% from its virus low and is just 13.6% away from its record high as investors bet on an eventual reopening of the economy.
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