Billionaire hedge fund manager Ray Dalio, who famously predicted the 2008 crash, has warned that America’s massive debt is becoming a serious problem.
But he said there is a relatively simple way for ordinary people to both protect their savings and make money.
Dalio, the founder of Bridgewater Associates, was speaking at the World Economic Forum in Davos when he said the US is heading into dangerous territory as it keeps borrowing more and more money.
In simple terms, Dalio said the US – which already owes more than $38trillion – needs to borrow vast amounts more, while investors who buy US government debt are becoming uneasy about how much they already hold.
He said both Americans and the holders of US debt ‘are worried about each other,’ and that this growing debt pile is exactly why he believes gold is becoming more attractive.
