Wall Street Titan Nukes Biden and Trump’s ‘Chronically Horrendous Leadership’ In Brutal Takedown of Baby Boomers’ Legacy

Hedge fund billionaire and longtime Wall Street titan, Ray Dalio, took a blow torch to his own generation over the 4th of July weekend and argued that the 2024 rematch between Donald Trump and President Joe Biden is the culmination of decades of failed leadership by baby boomers.

“While I love this day with my family and friends, savoring a classic July 4th BBQ, drinks, and camaraderie followed by all of us watching a big fireworks display, I also can’t help but feel for and reflect on the America I know,” wrote Dalio in a post on LinkedIn.

“Because I was born in 1949, which was four years after World War II ended and at the start of the new world order (the American world order), I rode the wave up, living the American Dream in the land of opportunity when it was at its best,” he continued, adding:

I was weaned on equal opportunity, economic and political freedom, rule of law, and democracy, and I was fortunate enough to have parents who were of the greatest generation, who overcame The Depression, fought in the war, and gave me a strong upbringing that included a good public-school education that allowed me to take advantage of the equal opportunities to live the American Dream. While it was never perfect in providing that to everyone, I felt that it always had the moral beacon and fundamentals to be great and continue to improve. You can hear in my description my deep-seated beliefs about how America and its people should be.

I also saw the generation that came after the greatest generation (i.e., my generation) run up government debt, let the country’s infrastructure break down, allow huge polarities in opportunities and living conditions to develop which led to pervasive economic and social inequalities, homelessness, mental illness and drug problems, and the relative decline of America’s economic, military, and moral leadership in the world.

While Dalio’s point stands, it’s worth pointing out that Biden was born in 1942, which technically makes him part of the silent generation — while Trump who was boring in 1946, and Dalio in 1949 are solidly boomers. Dalio, whose Bridgewater Associates is one of Wall Street’s largest hedge funds, turned his comments directly toward Trump and Biden, adding:

It is surrealistically shocking to me to see the condition the United States is in, such chronically horrendous leadership that has reached an apex in terribleness that is reflected in our two presidential candidates, our representatives in Congress, and how they deal with each other. They are so unimaginably worse than I ever could have thought possible.

Having experienced nearly one whole big cycle of up and down and from studying the patterns and causes of history, I worry about what might be ahead (what I call “Stage Six of the Internal Order Cycle,” where the rule of law breaks down and there is some form of civil war). That is why I pray to God that this is just another one of those times of darkness that is just before the dawn of America’s rebound—and that God will bless America.

Read Dalio’s post here.

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