The billionaire of coverage funds, Ray Dalio, who correctly predicted the financial accident that toured the world in 2008, warned in his new book that the current debt of $ 36 billion in the United States is the biggest problem in the country.

And Dalio criticized the administration of Donald Trump to cut the federal expenditure and gut the government because “many people who will be hurt by them will fight and the valuable support systems will weaken or eliminate”, according to the quotes of “how the countries are broken: the great cycle” that The Guardian published on Tuesday.

Dalio, the founder of the Global Coverage Fund Bridgewater Associates, also suggested that the policies of “Make America America Great Again” are “remarkably as the policies used by hard countries in the 1930s”.

“It would be fair to argue that its attempts to maximize the power of the presidency by ignoring the other branches of the government are analogous to the ways in which Andrew Jackson (on the right) and Franklin d Roosevelt (on the left) did it, although it is even more aggressive than them,” he added. “We will see how far it will take it.”

Ray Dalio warned in his new book that the current debt of $ 36 billion in the United States is the biggest problem in the country.
Ray Dalio warned in his new book that the current debt of $ 36 billion in the United States is the biggest problem in the country.

Countess Jemal through Getty Images

Dalio last month warned how “something worse than a recession” could soon happen, attributing it to a series of problems, including Trump’s tariffs about imported products from other countries.

“We have a breakdown of the monetary order,” Dalio warned about “Meet The Press” of NBC.

“Such times are very similar to the 1930s,” he added. “I have studied history, and this is repeated again and again.”