Billionaire investor RayDalio says the US is 'about 5 years from a really bad situation' unless we reform capitalism. But he thinks we're not focused on the most important metric.
I went in wanting to see what he thought of these developments, as well as issues that Democratic frontrunners like Senators Bernie Sanders and Elizabeth Warren have been championing. When I asked what he thought about increasing wage inequality over the last four decades, Dalio jumped in. "You keep focusing on measures of inequality, as though those themselves…," he said, trailing off.
When Dalio talks about reforming capitalism, he's talking about any policies and regulations optimized to reversing this trend.Since the financial crisis, Dalio has been studying other debt crises, the rise and fall of great powers, populism, and polarization. He told me that he's giving the US five years before economic and social upheaval, akin to what it saw during the lead-up to WWII in the 1930s, hits it.
Dalio sees everything in life, from nations' economies to person-to-person interactions, as composed of systems. These systems produce patterns that usually repeat, regardless of context. If you can recognize these patterns, you can then respond in the way that historically has yielded the best result.
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