Billionaire Ray Dalio says President Donald Trump’s tariff war has helped push America close to a recession — or perhaps even “something worse.”
Billionaire Ray Dalio says President Donald Trump’s tariff war has helped push America close to a recession — or perhaps even “something worse.”
He is probably talking about worse “for rich people”.
Recessions for rich people is just making less money, maybe moving out of the states, maybe selling some assets.
He probably does, but he also seems not entirely stupid.
In this video, he even calls out high levels of inequality and agitation between wealthy and poor as a reason Empires begin to fail.
It’s easy to get distracted by the loud stupid wealthy, but I think Ray Dalio may actually be one of the ones who sees the forests for the trees, even if he’s still mostly working to improve his own position and not society in general.
yeah I get annoyed with the knee jerk reaction of X is a rich asshole and its all the same. There are some that recognize that there needs to be some balance.
Well the problem is balance=no billionaires. I don’t think any billionaire would be on board with this so we can safely assume it cannot be an agreement with them really. A billionaire saying “we must listen to the problems of non billionaires” is just trying to put a band-aid on an open wound.