Bottom 60% of economy is miserable: Bridgewater founder Ray Dalio
Bridgewater Associates founder Ray Dalio on Friday explained why bridging the gap between the rich and the poor has become a critical issue in the United States.
“There are two economies not one economy. The two economies being let’s call it the top 40% and the bottom 60% that represents that. If you carve out the bottom 60% of the economy and you look at it, that is and has been a miserable economy,” he told FOX Business’ Maria Bartiromo of “Wall Street Week.”
According to the British medical journal The Lancet, wealthy Americans are expected to live 15 years longer than their poor counterparts.
“It’s the only place in the world where death rates are rising because of opioids [and] because of suicides,” he said.
The “Principles: Life and Work” author added that President Trump has done a good job bringing light to the economic divide in the U.S.