With just over $18 billion to his name, capitalism has been good to Ray Dalio: He started his hedge fund, Bridgewater Associates, out of a two-bedroom New York City apartment in 1975 and it now manages $160 billion in assets and is the largest hedge fund in the world, according to Forbes. “Capitalism basically is not working for the majority of people. That’s just the reality,” Dalio said at the 2018 Summit conference in Los Angeles in November. Dalio made the comment about capitalism during a discussion about wealth inequality. “Today, the top one-tenth of 1 percent of the population’s net worth is equal to the bottom 90 percent combined. In other words, a big giant wealth gap. That was the same — last time that happened was the late ’30s,” Dalio said.
— source cnbc.com, bloomberg.com | 2019/01/16
what ’30s gave us? Fascism.