Ray Dalio said the 2024 US presidential election will likely be the most important of our lifetimes, and that he believes the country needs a “strong, centrist leader.”
Speaking on CNBC’s “Squawk Box Asia” on Thursday, the Bridgewater Associates founder explained that the United States should strive for “broad-based prosperity” and that the presidential election has highlighted challenges to society’s ability to function smoothly.
“In terms of the election, this is going to be the most crucial election of my lifetime because there are irreconcilable differences between the two sides,” he said. “The first question we’re asking is will there be an orderly transition of power? We’re asking about the fact that the results of the election may not be accepted. That’s a pretty big deal.”
Dalio said Wednesday that elections are a major force shaping the global economy and are “a matter of internal order versus disorder.”
He told CNBC on Thursday that there’s a larger problem with a “win at all costs mentality” that “makes it harder to make the compromises and decisions that help our democracy function effectively.”
Republicans and Democrats are sharply divided on many issues, including abortion rights, immigration and climate change, but national polls show that the top concern for voters across the board is inflation and the rising cost of living.
When asked who he would support for president, Dalio said, “Neither of them is what this country needs.”
“What this country needs is moderates coming together to work together and get some big changes done,” he said. “What this country needs is broad-based prosperity.”
While Dalio expressed optimism about certain parts of American society, such as universities and the culture of innovation, he said those exceptions only benefit a tiny fraction of the population.
Broad-based prosperity creates a society where order and opportunity coexist, he explained, citing Singapore, a Southeast Asian nation often praised for its high standards of education and public housing.
