Ray Dalio: The California riots prove that America is on the eve of a class conflict outbreak.

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On Monday, June 10, local time, Dalio, the founder of Bridgewater Funds, published a long article - "Civil War? 》。 Dalio analyzes the "fifth stage" and "sixth stage" of the intra-national cycle. According to Dalio's summary, the fifth stage is precisely the eve of the outbreak of class conflict due to fiscal deterioration, which is crucial in a cycle within a country, and the United States is in this phase. Dalio identifies the "toxic combination" that triggers major civil conflicts, including: the country and its people are in financial distress (e.g., large debts and outstanding obligations); There is a huge gap in income, wealth and values within society; Suffered a severe economic shock. Dalio cautions against blindly believing that "this will not happen to us." Countries that succeed are those that are able to heal themselves and adapt to change in cycles.

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