Billionaire hedge fund manager Paul Tudor Jones warns of a looming fiscal crisis in the U.S. due to rising government spending and a soaring deficit, projected to exceed $1.8 trillion for the 2024 fiscal year. He cautions that this could trigger a significant sell-off in the bond market, leading to higher interest rates and a potential "Minsky moment" where the unsustainability of fiscal policies becomes apparent. Jones criticizes both Donald Trump and Kamala Harris as ill-suited to address these budget challenges and emphasizes the need for substantial spending reforms.
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