World’s Second-Richest Hedge Fund Manager Says Capitalism Is Unsustainable
Even billionaire Ray Dalio — the second-wealthiest hedge fund manager in the world — knows capitalism is only working for the rich.
That’s according to a November 2018 talk he gave at the Summit conference in Los Angeles. In January, Dalio tweeted video of the talk. On Monday, Rep. Alexandria Ocasio-Cortez (D-New York), a self-identified Democratic socialist, tweeted a CNBC article about Dalio’s talk, saying “even billionaires are acknowledging” the failure of capitalism.
“When 40% of Americans can’t afford basic needs, or a $400 emergency, the problem isn’t unique. It’s systemic,” the Bronx Congresswoman tweeted. “Even billionaires know they can’t shield themselves from this kind of perilous instability.”