American billionaire Ray Dalio has sent shockwaves across the investment community after telling NBC’s “Meet the Press” that he was worried about something “worse than recession” in the U.S.
Dalio, who is considered to be one of the greatest hedge fund managers of all time, claims that the monetary order is “breaking down.” He has also added that the world order is undergoing “profound changes.”
The prominent investor and entrepreneur has compared the current situation to the 1930s.
Earlier, the founder of Bridgewater Associates opined that such “classic” breakdown tends to be a once-in-a-lifetime event, arguing that the ongoing tariff disputes are just a sideshow.
“…what is happening now is just a contemporary version of what has happened innumerable times throughout history,” Dalio said in a post on the X social media network.
Dalio has repeatedly sounded the alarm over unsustainable levels of debt in the U.S. and China. He purchased Bitcoin for the first time back in 2021. Recenty, the legendary hedge fund manager said that he would rather invest in hard money than debt.
During his most recent interview, Dalio, who predicted the 2008 financial crisis, warned that the U.S. is on the cusp of a recession. The U.S. GDP is expected to experience a contraction of nearly 3% in the first quarter of 2025.
“Very, very concerned”
While commenting on Dalio’s statement, cryptocurrency mogul Mike Novogratz stated that other macro thinkers appear to be on the same page.
“I don’t know one real macro thinker who isn’t very, very concerned. Not one,” Novogratz said.
Last week, Novogratz predicted that the U.S. Federal Reserve would be “forced” to cut rates.
Related
As reported by U.Today, the billionaire investor predicted that Bitcoin was about to “have a run” despite its tight correlation with U.S. stocks.
The price of the leading cryptocurrency reclaimed the $85,000 level earlier today, according to CoinGecko data.