The world is going to change ‘in shocking ways’ in the next five years – Ray Dalio
“[H]e 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.”
USAGOLD note: This is a lengthy interview with much deep-thinking on where we are and where we are going as an economy and society. Dalio worries ultimately that if we do not re-engineer the economic system “we will risk losing the reserve currency status of the dollar.” He then reiterates his standard advice over the past few years to “diversify well and worry about the value of cash.” Dalio, as most of you already know, advocates owing gold.
Repost from 9-21-2020