EDITOR NOTE: In our opinion, hedge fund billionaire and Bridgewater Associates founder Ray Dalio has three things going for him that gives us a lot of confidence in his commentary: 1) He’s a strong advocate for sound money and free markets; 2) He’s often right; and 3) He’s proven that he’s right by making a lot of money (walking the walk versus talking the talk). According to the Reuters piece below, it appears that Ray Dalio may not be as skeptical of the Biden administration as we are. Perhaps he’s waiting to see the outcome of the administration’s policy moves in the first 100 days. Perhaps he felt there was no better alternative. For now, he’s right in pointing out that there is a tremendous social and financial division in this country. Dalio knows that monetary and fiscal policy played a significant role in creating this gap. Does he see a ray of hope ahead; something to give us a little bit of optimism? As far as we can see, there are only storm clouds all the way to the horizon. A perma-bear stance? No, it’s called realism.
Bridgewater Associates founder Ray Dalio wrote on Twitter on Sunday that the United States is still in a “terrible financial state” and remains “terribly divided”, but added he liked what he heard from President Joe Biden at his inauguration.
The hedge fund billionaire wrote that the question was whether the president and both parties in Congress would work together “for peace and prosperity that addresses the big wealth, values, and opportunity gaps we’re now seeing.”
Dalio has previously criticized here a widening wealth gap and under-investment in public education in the United States, which he has linked to lower high school graduation rates, greater disparity in test scores, and lower teacher pay.
Originally posted on Reuters
