Billionaire investor and hedge fund manager Paul Tudor Jones said in an interview with Lloyd Blankfein, CEO of Goldman Sachs, that the next recession will be both “interesting” and “really frightening,” due to an overvaluation of assets and an “unsustainable” monetary and fiscal policy.

Jones, who is famously known for predicting the Black Monday crash of 1987, stated that, “We’re going to have to mean revert back to a normal real rate of interest that’s existed for 250 years… we’re going to have to get back to a sustainable fiscal policy, and that probably means price of assets goes down.”

See the full talk between Jones and Blankfein below:

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