Economy
Related: About this forumThe kings of capitalism are finally worried about the growing gap between rich and poor (Guardian)
Now that the political debate has shifted, Bridgewater founder Ray Dalio is the latest in a bank of billionaires to talk about the gap between rich and poor
The Guardian
By Dominic Rushe
4/24/19
...This month Ray Dalio, founder of Bridgewater, the worlds biggest hedge fund, an investor in low-wage employers including Walmart and KFC, and a man worth about $18bn according to Forbes, became the latest in a bank of billionaires to go public about his fears of widening income inequality. The yawning gap between rich and poor is a national emergency, Dalio wrote in an 8,000-plus-word blogpost on LinkedIn (where else?) that poses an existential risk for the US.
...Never before have so many of the kings of capitalism showed so much concern about the system that created them, said Charles Geisst, author of Wall Street: A History and professor of economics and finance at Manhattan College.
...the political debate has shifted, said Geisst. I think they realize that Bernie Sanders has a lot more support than a lot of people think, he said. Sanders and fellow Democratic presidential hopeful Elizabeth Warren could give them a really bad time with their plans for higher taxes and greater regulation, he said. These people are famous for hedging their bets, and this is another way of doing it.
https://www.theguardian.com/commentisfree/2019/apr/24/ray-dalio-jamie-dimon-kings-of-capitalism-concerned?CMP=Share_iOSApp_Other
Worth the read
PeeJ52
(1,588 posts)They know it's going up though...
dlk
(11,566 posts)klook
(12,155 posts)is still quite relevant on this topic:
http://www.pbs.org/independentlens/films/park-avenue/
The 0.01% will start to care when they see their money threatened.
bronxiteforever
(9,287 posts)klook
(12,155 posts)- looking forward to the rest.
And thank you for the link to this article! Telling last sentence:
Yep.
dlk
(11,566 posts)Farmer-Rick
(10,175 posts)Oh well, it was bound to catch on