Ray Dalio says 'most people are silent' because they're afraid to talk about what's really happening with the U.S. economy

"Billionaire investor Ray Dalio has delivered a stark warning about the state of American discourse around the nation's economic challenges, saying fear of retaliation, particularly from the Trump administration, is keeping investors and business leaders from voicing critical concerns about the country's fiscal trajectory. The founder of Bridgewater Associates, the world's largest hedge fund with approximately $130 billion under management, told the Financial Times the current political and economic environment resembles the troubling dynamics of the 1930s and 1940s."

"'Most people are silent because they are afraid of retaliation if they criticize,' Dalio said, highlighting what he sees as a dangerous suppression of economic debate at a critical juncture for the United States. Dalio's concerns carry significant weight in financial circles. The 76-year-old investor built Bridgewater from his two-bedroom Manhattan apartment in 1975, growing it into a financial powerhouse that manages money for institutional clients including foreign governments, central banks, pension funds, and university endowments."

"The Harvard Business School graduate's track record includes successfully navigating major economic crises, including turning a profit during the 1987 stock market crash. His books on economic principles and market cycles have become essential reading for institutional investors, lending credibility to his current warnings about America's fiscal health. The economic reality Dalio's alarm centers on what he describes as an impending 'debt-induced heart attack in the relatively near future,' which he said could strike the U.S. economy within the next three years."

Fear of retaliation, particularly from the Trump administration, is keeping investors and business leaders from voicing critical concerns about the country's fiscal trajectory. Bridgewater Associates manages approximately $130 billion and serves institutional clients worldwide. The firm's founder built Bridgewater from a two-bedroom Manhattan apartment in 1975 and has a longstanding record of navigating major economic crises. Analysis of historical cause-and-effect relationships underpins the investment philosophy and informs warnings about an impending 'debt-induced heart attack' that could strike within three years. America's national debt stood near $37 trillion as of August, reinforcing concerns about fiscal sustainability.

Read at Fortune