President Donald Trump predicts that the economy will recover very quickly once restrictions on public life are lifted.
However, during an interview on âFox News Sunday,â billionaire Mark Cuban said he wishes that Trumpâs projections for the economy are correct, but he thinks they are wrong.
âI wish he was right, but heâs not,â Cuban said, adding, âI think itâs going to be slower. I think thereâs going to so many different ways we have to adapt to this new abnormal.â
He explained:
âPeople arenât going to just venture outside. Theyâre not going to go to large gatherings. Theyâre not going to feel confident right off the bat. Thereâs going to be a lot of trepidation. And that concern is going to lead to people holding back on spending money.â
Watch his comments below:
He added that businesses most likely will not âimmediately bring everyone backâ to work.
While he predicted that the economy would make a slow recovery, he also said there would be a lot of ânew, great businesses.â
âIf thereâs one thing that sets us apart from any other country in the world, itâs the fact that weâre a country of entrepreneurs,â Cuban said. âWeâre creative. Weâre innovative. We like to take risks and chances to create new businesses. And thatâs exactly what weâll do.â
And, while he said that it most likely wonât be a quick recovery, he added, âI have no doubt in my mind that weâll come back and be stronger than ever.â
Cubanâs comments come as the latest data finds that nearly 17 million Americans have filed for unemployment over the past three weeks.
