US Economic News

[BlueKelah]

Current model of capitalism broken ...

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Ray Dalio: tackle inequality or face a violent revolution
Ortenca Aliaj in Greenwich, Connecticut November 6 2019

Billionaire warns ‘we are all going to try to kill each other’ if wealth gap not closed

......In a conversation with fellow hedge fund manager and billionaire Paul Tudor Jones at the Greenwich Economic Forum on Tuesday, the Bridgewater Associates founder echoed his previous comments and those of other billionaires who have expressed concerns about wealth disparity and a “broken” capitalist system.

“The world has gone mad and the system is broken,” said Mr Dalio....... “The reason it is broken is because it is not an equal opportunity system. It needs to be reformed in a way that works better”......

https://www.ft.com/content/66fd4626-ffe4...fa4e77dd47

more concerning is the way the west is "printing money". All Americas and European currencies will likely be worthless come the next financial crisis. 

The developed world is on the brink of a financial, economic, social and political crisis

https://www.youtube.com/watch?v=3WclYu5l4G0

How about China? There is a colossal burden of debt in the system. That can add on to the global financial woes.

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Yes China was not covered in the video. Though a lot of their debt is internalised, but when the whole thing comes crashing down, the RMB will pretty much be devalued probably 50% if not more to the USD.