Bridgewater founder and co-chairman Ray Dalio said the U.S. corporations will lose as much as $4 trillion due to the economic damage from the coronavirus outbreak. Subscribe to CNBC PRO for the full interview with Ray Dalio: https://cnb.cx/2U3DFVw
“What’s happening has not happened in our lifetime before … What we have is a crisis,” Dalio said in a “Squawk Box” interview. “There will also be individuals who have very big losses. … There’s a need for the government to spend more money, a lot more money.”
The total U.S. GDP at the end of 2019 was more than $21 trillion. The founder of the Bridgewater Associates hedge fund also estimated the global corporate losses will amount to $12 trillion due to the pandemic.
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