Activist Investor Bill Ackman Says U.S. Should Shut Down for 30 Days

According to billionaire activist investor Bill Ackman, the smart decision for the U.S. would be to shut down for 30 days.

The CEO of Pershing Square Capital has called on President Trump to shut the U.S. down for the next month to save lives as the coronavirus (COVID-19) spreads.

“Mr. President, the only answer is to shut down the country for the next 30 days and close the borders. Tell All Americans that you are putting us on an extended Spring Break at home with family. Keep only essential services open. The government pays wages until we reopen,” Ackman wrote in a tweet.

He wrote in another tweet that such a move would make the infection rate plummet, “the stock market will soar, and the clouds will lift.”

“With your leadership, we can end this now. The rest of the world will follow your lead. A global Spring Break will save us all.”

“With exponential compounding, every day we postpone the shutdown costs thousands, and soon hundreds of thousands, and then millions of lives, and destroys the economy,” the hedge fund manager said.

Ackman believes no one should default or have their home foreclosed. Instead, it should be “a 30-day rent, interest and tax holiday for all.”

“The shutdown is inevitable as it is already happening, but not in a controlled fashion which is extended the economic pain and amplifying the spread of the virus,” he added.

Ackman said he is “confident the president will do the right thing in temporarily shutting down the country and closing the borders. If that happens, we can win the war against the virus and the markets and the economy will soar.”