Billionaire Ray Dalio: U.S. economy must change or there will be ‘conflict’ between the rich and poo

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lovethetrade said:
Billionaire Ray Dalio: U.S. economy must change or there will be ‘conflict’ between the rich and poor
https://www.cnbc.com/2019/07/29/bridgewaters-ray-dalio-us-economy-must-be-fixed.html
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Like the hoi polloi are going to revolt against the rich....French Revolution style?

While there is great disparity between the rich and non, the nons still have a high-ish standard of living compared to poverty.

It's the nature of capitalism for there to be "haves" and "have nots". It's up to the "nots" to do their best to become one of the "haves"....not piss and moan and demand redistribution of wealth so that "things are equal and fair".
 
nooby_mcnoob said:
Ray will never pay more taxes. The amount of tax cuts he has gotten from CT just to stay in CT is impressive.
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Warren Buffett, Jr. Talk and virtue signal, but his real actions say something different. He can donate as much of his salary and earnings to the gov't as he wants, if he's sincere...
 
Scataphagos said:
Like the hoi polloi are going to revolt against the rich....French Revolution style?

While there is great disparity between the rich and non, the nons still have a high-ish standard of living compared to poverty.
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Absolutely. Cell phones, better TVs than I have, indoor plumbing, electricity, enough gov't programs to live a middle-class lifestyle if you game them correctly. Go somewhere like Mexico or the Phllipines if you want to see real poverty.
 
nooby_mcnoob said:
Ray will never pay more taxes. The amount of tax cuts he has gotten from CT just to stay in CT is impressive.
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From the article ......
" Dalio, who is worth more than $19 billion according to Forbes, said he would declare income inequality a “national emergency” if he were President of the United States and that it should be a priority for the country. "

The fact that he continues to hoard $19 billion of wealth tells you how insincere he is about "redistribution". I don't know if he has used his wealth to "redistribute opportunity" to others ... but I didn't see any mention of that in the article.

" To level the economy, “of course” Dalio and other ultra-wealthy people should pay more taxes, he said. ”[O]ne way or another, the important thing is to take those tax dollars and make them productive.” "

I also didn't see any mention of how much additional tax dollars he voluntarily contributed.

Again ... it looks like all talk and no action. Hope I'm wrong ... but I would have thought that an article like that would have been a great place for him to lead by action since he has the resources to do it.
 
nooby_mcnoob said:
Ray will never pay more taxes. The amount of tax cuts he has gotten from CT just to stay in CT is impressive.
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Ray " Capitalism is Broken " Dalio is a poser... He's a communist in disguise and he ain't an economist, it's pretty obvious he doesn't really understand how to increase growth and consumer wealth.

Fiscal policy should enact wage increases across tax brackets, and lower Corporate taxes by almost a similar amount... Increasing wages increases Consumption, with a higher Consumption GDP you will see flourishing growth, and it's comes down to the same thing but better results then his plan... A little bit more money in consumers ( working class ) and a little less money to the savers ( Corporate execs and owners ), that's whats needed...

Not some clown idea like tax the rich to increase social benefits... Encourage being useless and lazy while the rest of the world is slowly eating our lunch ? He needs to fade away the commie lover, he just really doesn't get it but cause he's a billionaire, people give him credit regardless cause they don't understand either... Michael Pettis is an economist, not this clown!

https://carnegieendowment.org/chinafinancialmarkets/75972

Democracies will increasingly have to choose between raising wages and redistributing income or maintaining free trade and capital flows. Because they are likely to choose the former, the world may face a long-term reversal of globalization.
 
Stockolio said:
Ray " Capitalism is Broken " Dalio is a poser... He's a communist in disguise and he ain't an economist, it's pretty obvious he doesn't really understand how to increase growth and consumer wealth.
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I got news for you, the USA is pretty much communist in all but name.

1. Money controlled by a select few

2. New money flows to favored entities

3. Favored entities invest in things they think will increase their share of the national wealth

4. Power and wealth concentrates into hands of few

The only difference between this and sickle-style communism as there is no forced redistribution because it isn't needed, due to (1)

Dalio perfectly understands that this _is_ the way wealth has been concentrated in the last 100 years. He even wants to create a politburo at the federal level as he did for Bridgewater.
 
nooby_mcnoob said:
I got news for you, the USA is pretty much communist in all but name.

1. Money controlled by a select few

2. New money flows to favored entities

3. Favored entities invest in things they think will increase their share of the national wealth

4. Power and wealth concentrates into hands of few

The only difference between this and sickle-style communism as there is no forced redistribution because it isn't needed, due to (1)

Dalio perfectly understands that this _is_ the way wealth has been concentrated in the last 100 years. He even wants to create a politburo at the federal level as he did for Bridgewater.
More...

United States has the highest GDP Consumption in the world, meaning it has the highest wages compared to the overall piece of the pie... US is the furthest country to communism, haha travel a bit mcnoob, every trip you'll come back very humble... Japan's GDP per Capita is down almost 25 % since 2012, a lot of democracies have been stagnating due to Globalization. US is doing great as far as Wage Growth is concerned, Inflation is the biggest problem, but this clown won't say it, he loves Inflation cause bigger money supply means his family and friends will be richer on paper. Shit if I was worth 19 Billion, I'd jizz everytime I would hear more QE and Central Banks printing more
 
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