Ray Dalio Fears “Scary Situation” For Global Economy Due To Fed Impotence, AI Adoption
by Tyler Durden
ZeroHedge.com
Tue, 10/29/2019
Having warned in the past that central banks’ ability to reverse an economic downturn is coming to an end (just as the global economy enters what he says are the late stages of the long-term debt cycle), Billionaire hedge-fund founder Ray Dalio warned today that the global economy is under threat from an explosive mix of ineffective monetary policy, a rise in the wealth gap and climate change.
This combination, according to the Bridgewater Associates founder – the world’s largest hedge fund – will lead to a “scary situation” over the next decade…
“The technology and increasing use of artificial intelligence and increased productivity will also substantially increase the wealth gap, the job gap, the wealth and ideological conflicts within countries.”
Billionaire Ray Dalio says the global economy faces a ‘scary situation’ https://t.co/UQTmCDqrRu pic.twitter.com/NvBofCJEno
— Bloomberg Economics (@economics) October 29, 2019
This brief comment fits with Dalio’s previous warning that there are “three big forces” for investors to watch:
1.the point where there’s an economic downturn and central banks can’t cut interest rates further and their asset purchases cease being effective,
2.when rising inequality sparks “extreme” conflicts between the rich and poor,
3.and the battle for global dominion between the rising power of China and the incumbent world power, the US.
The Rest…HERE
