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Alternative Market Briefing

Dalio voices concern over broad inequality in the US

Tuesday, August 22, 2017

Bailey McCann, Opalesque New York:

Bridgewater Associates founder and co-CIO Ray Dalio thinks democracy in the US is under threat. In a LinkedIn post Monday morning, the hedge fund manager noted that the US feels very much like 1937 and that the polity may be too divided to be brought together again. To wit:

"History has shown that democracies are healthy when the principles that bind people are stronger than those that divide them, when the rule of law governs disputes, and when compromises are made for the good of the whole --- and that democracies are threatened when the principles that divide people are more strongly held than those that bind them and when divided people are more inclined to fight than work to resolve their differences. Conflicts have now intensified to the point that fighting to the death is probably more likely than reconciliation."

He expects that politics will start to play more of a role in the market over the near term and that market participants would do well to recognize the many structural inequalities in the US. "While I see no important economic risks on the horizon, I am concerned about growing internal and external conflict leading to impaired government efficiency (e.g. inabilities to pass legislation and set policies) and other conflicts," Dalio writes.

Dalio, has increased his public profile ahead of his first book "Principles: Life and Work". The post, like the book, centers on the idea that maintaining a set of core princ......................

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