Ray Dalio says America’s decline will upend lives, not just portfolios
“‘No empire lasts forever,’ says Ray Dalio. Humble words for a man who’s built the world’s largest hedge fund, with assets in excess of $150 billion. But the billionaire founder of Bridgewater Associates, 72, isn’t talking about the empire he created and stepped down from managing as CEO in 2017. (Dalio remains Co-Chairman and Co-CIO.) Instead, the empire that worries Dalio is the one in which he resides: the United States.”
USAGOLD note: Increasingly, assessments like Dalio’s are striking a chord with investors. It is difficult to assimilate the economic changes in progress without sensing that this crisis is shaping up as something much different and perhaps more pervasive and destructive than anything we have experienced over the last half-century – something more civilizational in dimension. Students of history will recall how quickly the British empire unraveled after the first and second world wars. Dalio is a long-time proponent of gold ownership and strongly advises staying out of cash.