US sliding towards 1930s-style autocracy, warns Ray Dalio

Dalio said that the current 'gaps in wealth', 'gaps in values' and a decline in trust were driving 'more extreme' policies.

'I am just describing the cause and effect relationships that are driving what is happening,' he said.

'And by the way, during such times most people are silent because they are afraid of retaliation if they criticise.'

https://en.wikipedia.org/wiki/Business_Plot?wprov=sfti1

Apologies - I’m not sure how to generate those archive links people seem to share frequently. Here are a couple other news articles from across the spectrum, that discuss what Ray Dalio told the Financial Times:

https://www.theguardian.com/business/2025/sep/02/rising-ineq...

https://fortune.com/2025/09/02/ray-dalio-america-debt-induce...

https://www.dailymail.co.uk/yourmoney/consumer/article-15057...

Use https://archive.ph/

The archive link for this FT article: https://archive.ph/xUeJ8

If it's possible for an FT subscriber to share a gift link, I'd be interested in reading the full interview rather than a summary. I've been surprised that the business community hasn't pushed back against Trump and the economic chaos he's causing, and it's great to see someone with the stature of Dalio break ranks.