Ray Dalio Says America’s Decline Will Upend Lives, Not Just Portfolios

The billionaire investor who built the world’s largest hedge fund paints a dire scenario in his new book.

“No empire lasts forever,” says Ray Dalio. Humble words for a man who’s built the world’s largest hedge fund, with assets in excess of $150 billion. But the billionaire founder of Bridgewater Associates, 72, isn’t talking about the empire he created and stepped down from managing as CEO in 2017. (Dalio remains Co-Chairman and Co-CIO.) Instead, the empire that worries Dalio is the one in which he resides: the United States.

“Right now, money and credit and how it’s behaving are affecting the financial markets, it’s affecting inflation,” says Dalio

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