Economics
Bridgewater’s Dalio Says Capital Markets No Longer ‘Free’
- Dalio says wealth gap the worst its been since the 1930s
- Firm founder worried about U.S. ability to compete with China
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Recent central bank actions mean capital markets are no longer “free,” according to Bridgewater Associates’s Ray Dalio, founder of the world’s largest hedge fund.
“Today the economy and the markets are driven by the central banks and the coordination with the central government,” said Dalio, speaking at the Bloomberg Global Asset Owners Forum on Thursday. As a result, “capital markets are not free markets allocating resources in traditional ways.”