'Worse Than A Recession': Investor Who Predicted 2008 Collapse Has Stark New Warning
HuffPost
Hedge-fund billionaire Ray Dalio said he's "worried" about current conditions.
Hedge-fund billionaire Ray Dalio, who predicted the 2008 financial crisis, is warning that President Donald Trump’s extensive tariffs combined with other factors could drive the economy to the brink.
“I think that right now we are at a decision-making point and very close to a recession,” he said on “Meet The Press” on Sunday. “And I’m worried about something worse than a recession if this isn’t handled well.”
He said the problems today are potentially “much more profound” than what’s seen in a typical recession, which is two negative quarters of GDP growth.
“We have a breaking down of the monetary order,” he said, along with “profound changes” in both domestic and world order.
“Such times are very much like the 1930s,” he said, referring to the period that covered most of the Great Depression. “I’ve studied history and this repeats over and over again.”
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