Count hedge fund billionaire Ray Dalio among the skeptics. "We're not going to go back to normal," Dalio tellsBut he also has hope. "Soon we are going to reconsider how we are going to divide the pie and there are reasons that it won't be good for capitalists," Dalio says.Dalio sees the closest parallel to the world's current economic situation as, which lasted from 1929 well into the 1930s, and is regarded as the worst economic crisis in American history.
"Think of the virus as like a tsunami that comes in," Dalio says. "And if it goes away completely and we never see it again, it still will produce damage, the financial damage ... incomes that are lost, balance sheets that are hurt, restructurings that need to take place. So that will impede the recovery."
There are "circumstances that existed before this downturn that existed [then]," Dalio says, which made the economy particularly vulnerable. Those circumstances include the country's large debts, large wealth and political gaps, and the U.S. conflict with China as a rising power, to name a few.First, Dalio points to the fact that the United States already had very low interest rates.
MakeIt Ray the pie... lookin to cut himself a bigger piece.. yeah ray ray
MakeIt Cash is trash right, ray
MakeIt It's been good for capitalists for 40 yrs and bad for the working class. FYI - Real income of Americans for the entire 40 year period has been flat... meaning we're no better off now than we were 40 years ago. All the gains went to your buddies. RayDalio HouseGOP SenateGOP
MakeIt Communist and socialist propaganda !
MakeIt Dalio loves benefitting from capitalism and using socialism to keep others from challenging his power.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ravens' J.K. Dobbins Wearing Ray Rice's #27 To Honor Dad, Create Own LegacyRavens rookie J.K. Dobbins says he's well aware of the stigma associated with wearing 27 in Baltimore after the Ray Rice incident ... but chose the number to honor his dad and create his own legacy. That my number too. I love the 27 This shouldn’t be an article lol. Not that deep Did his dad beat a girl too?
Source: TMZ - 🏆 379. / 59 Read more »
Auto workers' tenuous return a ray of hope in jobs crisisFrom AP Morning Wire: • US auto workers’ return a glimmer of hope. • Whistleblower: Americans at further risk. • Iraqi doctor’s battle as virus patient lays bare a battered system. • ‘Tear gas’ flavor ice cream sold in wake of HK protests. SIGN UP: Forgot one, OBAMAGATEGATEGATEGATEGATE try and keep up. Could you explain to us why Congress only refunded $1,200 ($108 billion) of the tax dollars we paid directly to us, but approved spending $600 billion on Junk Bonds from Wall Street? Why aren't they in front of microphones answering this Q? TrickleUP
Source: AP - 🏆 728. / 51 Read more »
'Vogue' and Amazon Fashion Partner on Digital Storefront for 'A Common Thread'It's part of the effort to support American designers amid the Covid-19 pandemic. Quantity over quality I guess. This sounds cool 😎 How is amazon planning on protecting creators and other fashion professionals from loss of sales due to counterfeiters and their own alleged past predatory business practices when it comes to competing with sellers in their own marketplace?
Source: Fashionista_com - 🏆 474. / 51 Read more »
'Don't F**k With Cats' Convict Luka Magnotta Won't Get COVID-19 ReleaseNo, Luka Magnotta is not on the verge of getting a 'rona release from prison. shit i forgot all abt him LMFAO .. I thought I would never hear his name off of the media anymore Good. Hell just kill more animals/ people.
Source: TMZ - 🏆 379. / 59 Read more »
To stop coronavirus' spread, House members change rules to allow members to cast floor votes from home for first timeThe debate on the resolution fell largely along the partisan fault lines that have defined the nation's divided response to the COVID-19 crisis. Welcome to the 21st Century...im sure we won’t see our Congress in DC again in the foreseeable future, or any future. Essential personnel have to show up for work. What does it say about these goofs?
Source: USATODAY - 🏆 100. / 63 Read more »