Hedge fund billionaire Ray Dalio is sounding the alarm on an all but impending economic recession. Dalio thinks it’s coming soon, too: before the next presidential election.
Ray Dalio, the billionaire investor, decided to finally tell the public the truth about the economy. It’s not that great regardless of what we are told by the mainstream media. “The probability of a recession prior to the next presidential election would be relatively high, 70% or something like that,” Dalio said on Wednesday evening during an appearance at the Harvard Kennedy School’s Institute of Politics.
Of course, Democrats will blame Donald Trump and the tax cuts, Republicans will blame Obama and his money printing policies, and virtually no one will see the real problem: the central bankers. One of the people who predicted the 2008 recession says there chance of this impending recession occurring soon is 70%.
Dalio is best known for his peculiar management style of “radical transparency,” which among other things calls for recording most meetings. Bridgewater, which manages about $160 billion and used to employ former FBI director James Comey, has been called the world’s “strangest hedge fund.” He knows a thing or two about economic busts, however. In 2007, he warned the Bush administration that many of the world’s largest banks could go insolvent, according to a 2011 article in The New Yorker.
According to CNN Money, Dalio, the mercurial chairman of hedge fund behemoth Bridgewater Associates, suggested Trump’s efforts to pump up the economy with massive tax cuts and surging spending won’t be the cure-all for the economic woe facing everyday Americans. Even though the economy appears to be booming right now, Dalio noted that “for various reasons, there has been a lot of stimulation hitting the gas.” He said that this raises the risk of interest rates going up, hurting all asset prices.
But Dalio isn’t the only one predicting an economic meltdown. Peter Schiff, who also predicted the 2008 recession, has been attempting to let people know that we are in a bubble and have been for years.
Not even a full minute into an interview with Alex Jones of Info Wars, Schiff says “it’s not a good thing” that the economy is going to crash and burn. “Unfortunately, that’s what Trump has inherited from Obama. But it’s not even really just Obama, it’s the federal reserve. It’s the monetary policy that has been passed like a baton from Clinton to Bush to Obama and now to Trump. And we’re near the end of the game and unfortunately, Trump’s gonna be the fall guy. This thing is all gonna collapse while he’s president.” –SHTFPlan
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