'Something worse than recession': Billionaire Ray Dalio who made 2008 meltdown forecast has fresh warning for US

Amid tariff-induced volatility in the global markets, billionaire hedge fund boss Ray Dalio has issued a stark warning for the US economy. Dalio, who had accurately predicted the 2008 housing meltdown in the US, said that “disruptive” nature of US President Donald Trump’s tariff policy is pushing the country closer to recession.

Speaking at NBC’s Meet the Press, Dalio expressed his concerns and said, “I’m worried about something worse than a recession if this isn’t handled well.” Apart from the turbulence sparked by the tariffs, Dalio also said that ballooning US debt is also a cause of concern.

The hedge fund leader said that new emerging economies are upending the geopolitical structure. He added that for the first time since World War II, the international order is about to witness massive overhaul.

The Wall Street veteran said that the world is now inching towards unilateral world order, which has more conflicts as against current multilateralism.

Listing out the key drivers of human civilization, Dalio said that acts of nature like a pandemic or earthquake, internal political conflict, the economy, the international order, technology have been shaping the world as we know it. While adding that Trump tariffs have some critical targets, but the execution of this economic tool is being done in “very disruptive” order that has created more issues for world markets.

Founder of Bridgewater Associates, Dalio has a net worth of $14 billion. This is not the first time that the Wall Street veteran has made stark forecasts. In his Sunday interaction, Dalio also said that US federal debt that currently stands over $36 trillion is a 'ticking time bomb'. He added that mounting federal debt will stunt the America's ability to borrow and spend in coming times.