In a recent discussion, billionaire Ray Dalio cautioned that the United States is heading towards a severe economic crisis if the government deficit isn't trimmed to 3% of GDP. Dalio's insight comes amidst recent budget cuts suggested by influential figures like Musk and Trump that oppose his advice, potentially exacerbating the situation. Historically, economic crises have benefitted the wealthy disproportionately, leading to greater wealth inequality. As founder of Bridgewater Associates, Dalio emphasizes the need for preventive measures to shield against possible financial turmoil, urging society to prepare for future economic challenges.
The rich and powerful love economic crises. Every financial crisis has led to the rich getting richer and the poor getting poorer.
Ray Dalio warns that if the U.S. government deficit isn't reduced to 3% of GDP, we could face an economic heart attack.
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