Ray Dalio, founder of the largest hedge fund in the world (Bridgewater Associates), said the world debt is so large it will take 10 years to de-leverage it — and “there are no more tools in the tool kit” to postpone the inevitable reckoning. He gave the world the bad news on Friday night on the Charlie Rose Show. According to the Daily Mail report the world is divided into debtors and creditors — emerging nations — and the end is near.
We should listen because Ray Dalio is the 55th richest man in the world with a net worth of $6 billion. His company manages $125 billion in global investments, and as Charlie Rose, “Over the last two years, Bridgewater ranked as the largest and best-performing hedge fund in the world. In 2010, his returns were greater than the profits of Google, Amazon and eBay combined.”
He knows this stuff….
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