Back‘World has gone mad': Ray Dalio on 'free money'
The 'whole dynamic in which sound finance is being thrown out the window will continue and probably accelerate," said the billionaire founder of investment management firm Bridgewater Associates
PremiumRay Dalio didn’t mince words in a post on LinkedIn about the paradox of free money in the global economy he titled “The World Has Gone Mad and the System Is Broken."
“At the same time as money is essentially free for those who have money and creditworthiness, it is essentially unavailable to those who don’t have money and creditworthiness, which contributes to the rising wealth, opportunity, and political gaps," the billionaire founder of investment management firm Bridgewater Associates wrote.
The essay echoed comments he made earlier in the day at the Greenwich Economic Forum in Connecticut, where he said economic inequality had become a “national emergency."
Key Quotes
“In some cases venture capital investors are pushing money onto startups that don’t want more money because they already have more than enough; but the investors are threatening to harm these companies by providing enormous support to their startup competitors if they don’t take the money.
“This whole dynamic in which sound finance is being thrown out the window will continue and probably accelerate, especially in the reserve currency countries and their currencies."
“Rich capitalists will increasingly move to places in which the wealth gaps and conflicts are less severe and government officials in those losing these big tax payers will increasingly try to find ways to trap them."
“The system of making capitalism work well for most people is broken."
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
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