Ray Dalio: America's massive wealth gap could lead to conflict

 

Ray Dalio, the billionaire founder of the world's largest hedge fund, is deeply worried about a divided and profoundly unequal America as President-elect Joe Biden prepares to take power.

Dalio is warning that leaders must urgently address the toxic brew of worsening inequality, political polarization and mounting debt. 

"There will have to be a resolution of the system working for the majority of the people in which there's productivity," Dalio told CNN's Poppy Harlow in an interview airing Tuesday. "And that could be obtained either in a smart, bipartisan way -- or it will come by greater conflict."

The pandemic has laid bare just how unequal our system is. As euphoria on Wall Street catapults stock prices to new heights, Main Street is in crisis.

https://www.cnn.com/2020/12/22/business/ray-dalio-inequality-conflict/index.html