«Most people are silent because they are afraid of retaliation if they criticize»

Billionaire hedge fund manager, co-CIO and founder of Bridgewater Associates Ray Dalio has commented on Donald Trump’s extreme policies, warning that the US is sliding towards an autocratic regime that he compares to those of the 1930s and 1940s, in an interview with the Financial Times reported by CNN.

“I think that what is happening now politically and socially is analogous to what happened around the world in the 1930-40 period,” the founder of Bridgewater Associates, one of the world’s largest hedge funds, has told the Financial Times.https://cnn.it/460e7wl

— CNN (@cnn.com) 2025-09-02T13:31:01.988827205Z

Ray Dalio illustrates his remarks by drawing on the recent decision by Trump and his administration to take a 10% stake in Intel.

Prior to this deal, Trump had viciously forward attacked CEO Lip-Bu Tan on Truth Social, accusing him of China-related conflicts of interest and demanding his immediate resignation.

Ultimately, Trump turned $11 billion in subsidies into a 10% public stake in Intel, boasting that Tan had offered “$10 billion to the United States” to keep his job, reviving accusations of political interference and a drift toward state capitalism, echoed by Dalio:

“Tan walked in wanting to keep his job, and he ended up giving us $10 billion for the United States.”

Since that deal, Trump no longer seems concerned about the Intel executive’s supposed ties to China.

Ray Dalio also highlighted the silence of many actors, who dread speaking out against the regime for fear of reprisals from Trump and his administration:

“Most people are silent because they are afraid of retaliation if they criticize.”