Billionaire hedge fund manager Ray Dalio has a dire warning. He says President Donald Trump is leading the U.S. toward autocracy. In an interview, Dalio compared today’s political climate to the 1930-40 period. He said declining trust and wealth gaps are pushing more extreme policies. Dalio is the founder of Bridgewater Associates.
Dalio Cites Fear and Government Control
Dalio pointed to the Trump administration’s recent 10% stake in Intel. He called this a move toward “strong autocratic leadership.” He said the goal was to take control of the economic situation. Dalio also stated that most people are silent on these issues. He believes they are afraid of retaliation if they criticize the president.
Pressure on the Federal Reserve
Dalio strongly rebuked Trump’s pressure on the Federal Reserve. He cited Trump’s move to fire Fed governor Lisa Cook. He also noted Trump’s frequent demands for lower interest rates. Dalio warned these actions undermine confidence in the U.S. dollar. This could make holding American debt less attractive to investors.
National Debt a “Heart Attack” Risk
The billionaire also called attention to the rising national debt. He said years of large deficits have brought the economy near a crisis. Dalio predicted the new budget could cause a “debt-induced heart attack.” He expects this could happen within about three years. He did state, however, that presidents from both parties share the blame for the debt.
This content is brought to you by the FingerLakes1.com Team. Support our mission by visiting www.patreon.com/fl1 or learn how you send us your local content here.