Ray Dalio certainly is no radical idealist, but in his frequent writings and media appearances the veteran investor consistently calls for Americans to rewrite their longstanding contract with capitalism so that it is fairer and more generous to more people.
Otherwise, he predicts, life in the U.S. could become more difficult: mountainous debt that stunts economic growth; fewer opportunities for ordinary citizens to get ahead financially; and a worldwide lack of trust in the U.S. dollar that diminishes Americans’ purchasing power and could lower their standard of living.
Dalio is the founder of Bridgewater Associates, the world’s largest hedge-fund firm, which has made him a billionaire. So it’s not surprising that he champions capitalism as a proven way to expand economic growth and living standards. Read more…..
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Ray Dalio, the billionaire founder of investment management firm Bridgewater Associates, says that very large deficits are on the way no matter who is elected in the 2020 presidential election and says he’s very concerned about U.S.-China tensions. He speaks with Bloomberg’s Erik Schatzker on “Bloomberg Markets: The Close.”