Ray Dalio
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Hedge fund billionaire Ray Dalio has warned Donald Trump’s America is drifting into 1930s-style autocratic politics — and said other investors are too scared of the president to speak up.
The Bridgewater Associates founder told the Financial Times that “gaps in wealth”, “gaps in values” and a collapse in trust were driving “more extreme” policies in the US.
“I think that what is happening now politically and socially is analogous to what happened around the world in the 1930-40 period,” Dalio said.
State intervention in the private sector, such as Trump’s decision to take a 10 per cent stake in chipmaker Intel, was the sort of “strong autocratic leadership that sprang out of the desire to take control of the financial and economic situation”, Dalio said.
FT interview:
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Hedge fund billionaire Ray Dalio has warned Donald Trump’s America is drifting into 1930s-style autocratic politics — and said other investors are too scared of the president to speak up.
The Bridgewater Associates founder told the Financial Times that “gaps in wealth”, “gaps in values” and a collapse in trust were driving “more extreme” policies in the US.
“I think that what is happening now politically and socially is analogous to what happened around the world in the 1930-40 period,” Dalio said.
State intervention in the private sector, such as Trump’s decision to take a 10 per cent stake in chipmaker Intel, was the sort of “strong autocratic leadership that sprang out of the desire to take control of the financial and economic situation”, Dalio said.
FT interview:
Billionaire hedge fund boss says other investors are too scared of Trump to speak out
If anyone ever thought that corporations and the financial sector, let alone the legal profession, would put country over $$$, they had another think coming. There are a handful of corporations and wealthy people willing to do what's necessary to preserve our Democracy, but no where near enough of them.
"The people" may be stupid enough to vote an imbecile and his army of dung beetles into power, but with the caving of monied interests--where lots of power resides--the average citizen is doomed.
The idea that the average voter has much power these days is questionable.
