- Ray Dalio warns that President Trump's tariff policies, combined with rising debt and global tensions, could lead to a breakdown of the U.S. "monetary order," causing disruptions far more severe than a typical recession. He compares current conditions to those of the 1930s, citing risks of internal political conflict, international power shifts, and economic instability that could escalate into a global crisis if poorly managed.
President Trump’s shifting tariff policy is part of a broader set of economic and geopolitical pressures that could trigger a crisis “worse than a recession,” according to Bridgewater Associates founder Ray Dalio.
