On 60 Minutes, Hedge Fund Founder Dalio Says Capitalism's Income Inequality Is National Emergency 

By Mark Niquette @ Bloomberg.com,  April 7, 2019, 7:00 PM EDT

While President Donald Trump is focused on the national emergency he’s declared to secure the southern U.S. border, the billionaire founder of the world’s biggest hedge fund is more worried about losing the American dream.

Capitalism must be reformed because it’s not producing enough opportunities for most Americans, creating an income gap that threatens to spark conflict, Ray Dalio, the Bridgewater Associates co-chairman, said in an interview airing Sunday on CBS’s “60 Minutes.”

“If I was the president of the United States,” Dalio said, “what I would do is recognize that this is a national emergency.” It has to come from the top, he said: “If you look at history, if you have a group of people who have very different economic conditions, and you have an economic downturn, you have conflict.”

While Dalio, 69, previously has focused on inequality and warned about the dangers of populism, he’s started to focus on what he terms the existential threats they present to American society [....]