Donald Trump wants to “dictate” policies like those of far -right regimes in the 1930s, warned a leading billionaire investor.
Ray Dalio Written in a new book that the American president acts as a director general without a board of directors while he seeks to extend the executive power even more aggressively than the predecessors Andrew Jackson and Franklin D Roosevelt.
Dalio, 75, is the founder of the investment company Bridgewater Associates, one of the largest hedge funds in the world, and a rare critic of the system that generated its wealth. His book How the countries broke: the big cycle approaches the national debt And Trump’s attacks on democratic standards. The Guardian obtained a copy.
Invoke a decade where fascists such as Adolf Hitler from Germany and Benito Mussolini of Italy were in power, Dalio writes: “When I say that the policies that President Trump uses to make America again large ” is remarkably like the policies of the right -wing -right countries in the 1930s used, which should not be controversial.”
He continues: “It would be just to assert that his attempts to maximize the power of the presidency by bypassing the other branches of the government are similar to the way Andrew Jackson (from the right) and Franklin D Roosevelt (from the left) have done so, although it is even more aggressive than they have been. We will see how much he will take it.”
During conflict, Dalio notes, aggressive leaders strive to eliminate opposition, to make changes to the law to assume special powers and take control of the media to produce pro-government propaganda. If conflicts become serious, new laws and sanctions target the opposition.
Since his return to functions in January, Trump has signed a record of 152 decrees,, concentration power and the sidelining of the congress. He has distorted judicial orders And detainee or expelled immigrants without regular procedure. He sought to reward law firms,, media companies And universities This bend to your will and punish those who defy it.
“East Donald Trump A demagogue? Asks Dalio, describing a demagogue as a political leader who earns power by calling on emotions, fears, prejudices and desires of people, generally arousing populist feelings and promising easy solutions to complex problems.
“The question is to know what will be the controls and how far Trump will push things? Unlike a CEO, there is no board of directors for the American president. Are there effective regulators in place? If so, it is not clear for me who they are.”
Trump Strongman style is a symptom of the polarized policy of America, supports the author. “Donald Trump wants to dictate politicians rather than having a classic approach to” work together through the parties of the parties to govern. This confrontation approach is an extension of the way the great internal political conflict has become in recent decades. “
Dalio grew up in a middle class district on Long Island in New York. He started investing at the age of 12 during the shopping cart in a local golf course. He went to the Harvard Business School, had short stays in two companies of Wall Street and started Bridgewater in 1975 of a two -bedroom apartment in New York. It has become the largest hedge fund in the world.
In the way countries are broke, Dalio identifies government debt – currently more than $ 36 billion – as the most serious problem in the United States, describes what he calls the “big debt cycle” and offers advice on how people can protect themselves from the benefits.
The businessman, who properly predicted the 2008 financial crisiscondemns it Trump administrationCost reduction measures are also likely to have negative consequences because “many people who will be injured by them will retaliate and precious support systems will be weakened or eliminated”.
He adds that his own wife is working to help students with low income in private neighborhoods suffering from inadequate nutrition. The cancellation of School lunch programs On which they depend “will have terrible second -rate consequences”.
Trump’s policies aim to move more money, power and freedom in the hands of the most productive people, adds Dalio. “It is not easy to manage and improve a country that has been poorly managed and in such a mess while keeping happy people at a time when democracy fractures. I regularly recommend checking how the lowest 60% are made and feeling. ”
