A billionaire investor who predicted the global financial crisis has warned that the US election risks tipping the world’s biggest economy into serious disorder.
In a week when candidates Kamala Harris and Donald Trump finally faced each other in a televised debate, Ray Dalio said his biggest fear was for democracy no matter who wins on 4 November.
Mr Dalio founded the world’s largest hedge fund and is closely-watched by other investors for his stock-picks.
In an interview with the BBC, he said: “There’s a possibility that the loser, particularly if it’s the Republicans and Donald Trump, might not accept losing and you have a situation where it’s a win-at-all-cost by both the left and the right, so neither side can compromise.
“My great fear is for democracy,” he said.
Regardless of the victor, Mr Dalio said he expected there to be internal migration between states based on political, economic and moral dividing lines.
“A lot of people in states like California and New York and New Jersey and so on, will go to states like Florida and Texas, partially because of taxes, but partially because of values,” he said. “There’s a big gap in values”.
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