World’s Largest Hedge Fund Founder Says US is Facing a ‘Human Tragedy’
Earlier this week, JPMorgan CEO Jamie Dimon listed six issues that are holding back the American economy, including money spent on foreign conflicts, a ballooning student loan crisis, healthcare costs, and felony conviction rates. Per Business Insider, he said that it was “clear something is wrong [with the U.S.].”
Now, in a new interview with Business Insider, Ray Dalio, who founded Bridgewater Associates, the largest hedge fund in the world, says he agrees with Dimon. (Per Forbes, Dalio made $1.4 billion last year.)
Narrowing in his focus on education and students’ disengagement and disconnection, Dalio referred to the situation as a “human tragedy,” which could eventually become a “social” one. “When you look at some of the educational things that can be done that make such a world of difference to people, it’s a terrible waste of resources and inefficiency,” Dalio told Business Insider. “We have a problem with our human infrastructure.”
Read a full transcript of Dalio’s interview here.