After the election, market reckoning will occur, predicts Paul Tudor Jones, who warns that the country will be broke.

Paul Tudor Jones, a billionaire hedge fund manager, is warning about the U.S. government's current fiscal deficit and the increased spending promised by both presidential candidates, stating that the bond market may force the government to address it after the election.

Unless we address our spending problems, we will become broke rapidly, as Jones stated on Tuesday to Andrew Ross Sorkin of CNBC.

The Tudor Investment founder and chief investment officer expressed concern that government spending could trigger a bond market sell-off, leading to higher interest rates. He revealed that he will not hold fixed income and will instead invest in the longer-term part of the bond market.

Will we experience a Minsky moment in the US after this election, and how will it affect the US debt markets? Jones queried, using the shorthand for a sudden drop in asset values.

Will we experience a Minsky moment where it suddenly becomes clear that what is being discussed is financially unfeasible?