U.S. Transforming Into 1930s-Style Autocracy: Ray Dalio

The United States is sliding into 1930s-style autocratic politics, billionaire investor Ray Dalio has warned.

In June, Dalio opposed Trump’s sweeping domestic policy agenda, the “One Big Beautiful Bill Act.” (Photo: Academy of Achievement) 

“I think that what is happening now politically and socially is analogous to what happened around the world in the 1930–40 period,” the Bridgewater Associates founder told the Financial Times, as also reported by CNN’s Olesya Dmitricova.

State intervention in the private sector — such as the Trump administration’s recent decision to take a 10% stake in struggling chipmaker Intel — reflects the type of “strong autocratic leadership that sprang out of the desire to take control of the financial and economic situation,” Dalio said.

In June, Dalio opposed Trump’s sweeping domestic policy agenda, the “One Big Beautiful Bill Act,” warning that America’s mounting government debt was nearing a critical point that could destabilize the world’s largest economy.

He added that widening wealth and values gaps, along with a collapse in public trust, are driving “more extreme” policies.

“Most people are silent because they are afraid of retaliation if they criticize,” Dalio said.

“Classically, increased wealth and value gaps lead to increased populism of the right and populism of the left and irreconcilable differences between them that can’t be resolved through the democratic process. So, democracies weaken, and more autocratic leadership increases, as a large percentage of the population wants government leaders to get control of the system to make things work well for them.”