With the stock markets soaring and corporate America celebrating a massive tax cut, there are increasing warnings from some business circles that the immense level of inequality is generating deep social discontent.
In an interview published in the Wall Street Journal last week, Ray Dalio, who manages the world’s largest hedge fund, Bridgewater Associates, warned that “elevated stock valuations” had not translated into higher long-term economic growth, let alone improvements for the bottom 60 percent of the population. This layer of the population, he said, lacked any savings, suffered a higher percentage of premature deaths, and had children destined to earn less than their parents. Continue reading “Billionaire warns of growing class conflict in US”


