, Columnist
Ray Dalio Spells Out America’s Worst Nightmare
The hedge fund titan warns the U.S. not to take its reserve currency for granted.
Ray Dalio starts the clock.
Photographer: Giulia Marchi/Bloomberg
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Ray Dalio, the billionaire hedge fund manager who founded Bridgewater Associates, effectively spelled out what doomsday looks like for the U.S. on live television.
In an interview with Bloomberg TV on Wednesday, Dalio expressed his concern about two years from now, when, in his view, the economic recovery is likely to sputter out. It won’t just be a debt problem this time around, he said, but rather a story about unfunded pension and health-care obligations. To address that looming crisis, the U.S. will need to ramp up issuance of U.S. Treasuries.