Ray Dalio: Neither Trump Nor Harris Is What the U.S. Needs
1min read On Thursday, Ray Dalio, the founder of the world's largest hedge fund, Bridgewater Associates, and a billionaire investor, stated that the 2024 U.S. presidential election could be the most important one in his lifetime, arguing that the United States needs a strong leader of the middle.
Dalio expressed his views in an interview with the media, stating that the U.S. should strive for broad-based prosperity, and that the presidential election highlights the challenges faced by the smooth functioning of society.
As far as the election goes, it's going to be the most consequential election of my lifetime because we now have irreconcilable differences between the two sides, Dalio said.
The Republican and Democratic parties in the United States have serious disagreements on a range of issues, including abortion rights, immigration, and climate change.
The first question we'll ask is: will we have an orderly transition of power? We have the question- the fact that it is possible - that election results may not be accepted - that's quite something, Dalio said.
He also pointed out that the win-at-all-costs mentality in the election poses an even greater problem because it challenges to being able to compromise and make decisions in a way that is conducive to our democracy working effectively.
When asked who he supports in the presidential race, Dalio replied, Neither (Trump and Harris) is what the country needs.
Although Dalio expressed optimism about certain aspects of American society, such as universities and a culture of innovation, he noted that these standout aspects only benefit a small portion of the population.
He explained that broad-based prosperity creates a society that is both orderly and full of opportunities, citing Singapore as an example. This Southeast Asian country is often praised for its high level of education and ample public housing.
The day before, Dalio spoke at the Milken Institute Asia Summit in Singapore, listing the U.S. election as one of the five forces affecting the global economy, calling it a question of internal order and chaos.