Billionaire hedge fund manager Ray Dalio warns that an uprising is about to sweep across America due to stagnating wages and a widening income gap between the rich and poor.
Dalio warns that, “widening income/wealth/opportunity gaps pose existential threats to the United States because these gaps are bringing about damaging domestic and international conflicts and weakening America’s condition.”
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Summit.news reports: The Bridgewater Associates founder says that those who grew up middle class are earning less than their parents because wage growth compared to inflation has been stagnant since the 1980’s.
“Disparity in wealth, especially when accompanied by disparity in values, leads to increasing conflict and, in the government, that manifests itself in the form of populism of the left and populism of the right and often in revolutions of one sort or another,” Dalio writes.
Noting that the next economic downturn will cause this gulf to become painfully apparent, Dalio says the wealth gap should be treated as a “national emergency” and that the whole economic system needs to be re-engineered.
Numerous studies have shown that wealth inequality inevitably leads to civil unrest, so Dalio’s prediction is by no means an unlikely scenario.
Sean Adl-Tabatabai
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Well, something is bound to happen eventually. But instead of that big collapse that was supposed to happen almost 8 years ago, it is a slow, slow trickle.
Everyone was supposed to wake up, but in reality they all feel asleep. More useless-eater sheeple have been created or come out of the woodwork to the internet in the past 5-10 years than in the history of the country, West, or human history. Just 10-12 years ago alone, the internet’s mean IQ was 30-40 points higher. And its median age was actually much lower, dominated by 13-20-year-olds.
Everything was supposed to collapse. Instead, it just keeps chugging along, slowly but surely. The upper-class gets more and more perks, comforts, and amenities, the Middle Class get desiccated more and more, the Working Class gets a third and fourth job and loses all ability to live life, and the poor get less and less shekels to survive, while the system doesn’t even crack down on obvious illegals and abusers dominating.
All because of a nonsensical system. Step one, just basically remove the military budget. I’d offer an entire program for people under age 25-30 to be able to move, and job hop in urban, suburban, or semi-rural areas as they please, optimally starting at age ~16-17. The focus needs to be on socialization to kill two birds (personal and professional) with one stone. I can’t speak for millennials, but Echo Boomers/Ys survived off of personal socialization, and turned to the internet to meet their needs.
They had very much the same craving as their Boomer parents, who indisputably were the luckiest and most successful generation at capitalism through their likewise professional socialization. Without this, the Ys will die off to drugs, suicide, and their own starving hearts and bodies. They don’t have time to look to get high and keep settling for hometown a’$$. They are the most important generation alive because millennials are too diluted, young, and infected by modernism, and Xes are too old, settled and comfortable with what little they have.