A storm has already been foreseen by billionaire Ray Dalio. After foreseeing the 2008 financial crisis, the founder of Bridgewater Associates, the largest hedge fund in the world, is now concerned that President Donald Trump’s tariff imposition will trigger “something worse than a recession.”
The 75-year-old billionaire investor remarked, “I think that right now we are at a decision-making point and very close to a recession,” during an insightful discussion on NBC’s Meet the Press last week. And if this is not managed properly, I fear something worse than a recession.
Billionaire Ray Dalio on a potential recession
The author of the book “How Countries Go Broke: The Big Cycle” then added, “A recession is two negative quarters of GDP and whether it goes slightly there. We always have those things. We have something that’s much more profound. We have a breaking down of the monetary order. We are going to change the monetary order because we cannot spend the amounts of money.”
We report Ray Dalio’s comments just after days after Trump insisted that trade talks with China are on behind the scenes even though the latter hasn’t indicated any signs to confirm the US president’s proclamations. Half-way through the month, it’s clear that April has been all about global stock markets being hit with a figurative wrecking ball as the US and China also continue their retaliatory tariff war.
