Bill Ackman Urges Trump Administration to 'Close the Borders'

Hedge fund manager Bill Ackman wants the country to shut down for 30 days in order to combat the spread of coronavirus.
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Hedge fund manager Bill Ackman of Pershing Square took to Twitter to urge President Donald Trump to "close the borders" for 30 days and shut down the country as an answer to the spread of the coronavirus. 

Ackman went on to suggest that the government should keep only essential services open and have the government pay wages until the country reopens. 

Ackman urged Trump to "send everyone home now" on an "extended Spring Break." Failing to do so could cost "thousands, and soon hundreds of thousands, and then millions of lives and destroy the economy."

As part of his screed, Ackman suggested a 30-day rent, interest and tax holiday for everyone. 

"The shutdown is inevitable as it is already happening, but not in a controlled fashion which is extending the economic pain and amplifying the spread of the virus," Ackman said. 

“The moment you send everyone home for Spring Break and close the borders, the infection rate will plummet, the stock market will soar and the clouds will lift,” Ackman tweeted.

The U.S. economy has been impacted as workers have been urged to work from home where possible because of the coronavirus pandemic.. 

Numerous municipalities around the country have closed down bars and nightclubs, and restaurants are only allowed to make food for takeout or delivery.

Ackman and Pershing Square rose to prominence in the post-recession trading environment, boating a 40% return in 2014 vs. the S&P 500's 13% rise that year.

However, those returns have dwindled in recent years, with the fund posting a negative 4% return in 2017 and a negative 13.5% return in 2016, according to Investopedia. The fund did have a positive return in 2018.