Bridgewater Associates founder Ray Dalio says America’s $35.327646622839 trillion nationwide debt will proceed to develop irrespective of who wins the race for the White Home.
In a brand new interview with Bloomberg on the Milken Institute Asia Summit 2024, Dalio says the fast-approaching November election represents a crossroads for a lot of important points together with taxation and the attain of the federal authorities.
The billionaire believes the nationwide debt is sure to be ignored whereas the federal government makes use of inflationary insurance policies to scale back the actual burden of its debt.
“We have now an unlimited quantity of debt, and it’s going to maintain growing. And one man’s money owed are one other man’s liabilities… No one’s going to cope with the debt coverage. That’s going to finish up being monetized down the trail.”
Whatever the electoral final result, Dalio sees the US heading in direction of a extra “fragmented” existence, the place parts of the nation look to their state governments for management because of “irreconcilable variations” with the following administration.
Dalio says he’s additionally targeted on the candidates’ tax insurance policies and the impression they could have on markets.
“Then the query is problems with taxation and people problems with taxation could have an essential impact on the capital markets. They’re purchased after tax returns, by and enormous. You decrease company revenue tax, you increase revenue taxes, it makes a distinction to costs. So we’re going to have these points. A number of points to speak about relating to the election.”
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