Billionaire Ray Dalio makes a new warning, says that American deficits triggering a “very high probability of real problems”
The legend of the Ray Dalio billionaire designer fund says that the financial situation in the United States has a high probability of serious problems in the future.
In a new interview on Amanpour and Company of PBS, Dalio, founder of Bridgewater Associates, says that the US government is in a situation where it must absolutely reduce its budget deficit in percentage of GDP from 7% to 3%.
According to Dalio, the government must adopt a three -step approach to reduce the deficit / GDP ratio if it wants to avoid a “very high probability of real problems”.
“It must be done with three things, and it must be distributed among these three things, because one of these three things would be too painful. These three things are tax revenues, expenses and interest rates.
Although the Congress and the President in the process do not deal directly with the third of these, at the moment, a Billion of dollars – half of our deficit – is a payment of interest, and not only we have an interest payment of billions of dollars, during the next year, we have nine dollars of maturation of the debt which must be referred or sold …
So there is what I call my 3% solution in three parts, which was very similar to 1991-1998. It has been reduced by 5% of GDP, the budget deficit, during these years, was reduced by 5% of GDP by distributing it. So these are the three things necessary. »»
https://www.youtube.com/watch?v=98lbtbn_mmq
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