Ray Dalio says US is at start of ‘late, big-cycle debt crisis’

(Bloomberg) – Billionaire Ray Dalio, founder of Bridgewater Associates, said the United States is experiencing stubbornly high inflation as well as high real interest rates.

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“We’re at the start of a late-night, big-cycle debt crisis when you’re producing too much debt and you’re running out of buyers,” Dalio said Wednesday at the Bloomberg Invest conference in New York.

He said that while interest rates won’t go up much, the economy will get worse and that could cause more internal strife if the United States continues to have political fragmentation.

Dalio, 73, last year ceded control of Westport, Conn.-based Bridgewater, which runs the world’s largest hedge fund. He is focused on building his family office and plans to set up a branch in Abu Dhabi.

He is worth $16.5 billion, according to the Bloomberg Billionaires Index.

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