(updated)

Billionaire hedge fund operator Bill Ackman of Pershing Square Capital is calling for a shut down of the U.S. for the next 30 days with the government paying all wages, amid the coronavirus outbreak. He calls it an extended "Spring Break".

He said every day we postpone the shutdown costs thousands, and soon hundreds of thousands, and then millions of lives, and destroys the economy.

Ackman said if the President took these drastic measures the "infection rate will plummet, the stock market will soar, and the clouds will lift."

The advice from Ackman doesn't appear for profit. On March 3rd, he announced his firm hedged their portfolio on the expected substantial negative impact from the coronavirus.

Mr. President, the only answer is to shut down the country for the next 30 days and close the borders. Tell all Americans that you are putting us on an extended Spring Break at home with family. Keep only essential services open. The government pays wages until we reopen. — Bill Ackman (@BillAckman) March 18, 2020

In an emotional follow-up interview on CNBC, Ackman said he had a nightmare about the virus in January and went into lockdown over a month ago. The hedge fund manager said if left unchecked the virus could infect 50% of the world and kill "millions," including one million in the U.S..

He sees the virus creating a 'depression scenario' if a lock-down is not instituted. He said hotels, like Hilton (NYSE: HLT) - where he is a shareholder, could be worthless. He adds that most large companies cannot survive a quarter without revenue. He said "hell is coming" and we "need to shut it down now." He said America may end as we know it without a shutdown.

While Ackman had some dark views on the virus and economy, he is actually buying stocks now as he thinks Trump is doing the right thing by shutting the economy down.