American hedge fund manager, multibillionaire Ray Dalio, who specializes in forecasts for crises, expressed the opinion that in the near future in the US and the EU there will be a drop in living standards.
Explaining his point, Dalio emphasizes that America is 70% through the big cycle of a dominant economic state.
The US spends much more than it earns, so debts are constantly growing. However, spending also does not stop, and therefore it is necessary to borrow and print more money, which is fraught with inflation and leads to conflicts. The multibillionaire believes that a US war with China and Russia increasingly seems inevitable.
The United States can get out of the economic hole, but this will have to increase its own income or reduce spending. But these two scenarios look unrealistic for America today.
The expert mentioned that many great countries have gone the same way in the past.
Dalio believes that neither the Democrats nor the Republicans will admit defeat in the 2024 presidential election, so the Supreme Court will decide, but the states can appeal against its verdict.