Ray Dalio is an enormously successful hedge fund manager who is very knowledgeable on economic matters.
He has a book coming out in June on the debt crisis.
He had an appearance on CNN with Fareed Zakaria within the last few days. He officially “came out” in terms of speaking truthfully and openly about our governmental debt and how it is impacting the stock market, our economic prospects and the country’s future well-being. It is worth a look:
Every expert I have heard over the years says the solution is to cut spending. Easier said than done. I’ll leave it to the smart guys to fix.
You are obviously right, Fred. To cut spending is a near impossible task politically. Few are willing to do it in Congress. The DOGE influence is a new variable, and is helpful, but we need Congress to act.
Dalio is still kind of PC with his “imbalances” dance. He knows the truth and says it in a fuzzy way. Bratz is better.
Fred, I’m not sure smartness is the problem. I think what we are facing is the inherent corruptness of government. Every Republican since Reagan has run on cutting govt spending, and a number of times during that 45 year period they’ve held Congress and the Presidency.
(Actually, the only time a smidgin of cutting was done was with the Gingrich Congress and Clinton not vetoing it.)
I agree, J. Sobran. Dalio is still a player, and feels he must play the game.
The GOP has not been the answer to debt-laden federal spending.
Triad, I don’t say “inherently corrupt” casually. Every one of those who people the government–from Congressmen to low level bureaucrats–faces a dynamic that rewards them for taking more from the taxpayer and no reward at all for saving the taxpayer from greater theft (in fact whistleblowing is brutally punished).
You are absolutely, right, J. Sobran. And it can be fairly disillusioning for citizens who want better representation and leadership and stewardship.