Trump is taking us “back to 1930,” says this billionaire

Billionaire hedge fund manager Ray Dalio, co-CIO and founder of Bridgewater Associates, 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, then reported by CNN.

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

Prior to this agreement, Trump had violently attacked CEO Lip-Bu Tan on Truth Social, accusing him of China-related conflicts of interest and demanding his immediate resignation: “The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem!”

In the end, Trump turned $11 billion in subsidies into a 10% public stake in Intel, boasting that Tan offered “$10 billion to the U.S.” to keep his job, reviving accusations of political interference and a drift toward state capitalism, echoes Dalio: “Tan walked in wanting to keep his job, and he ended up giving us $10 billion for the United States.”

Since this agreement, Trump no longer seems to care about the Intel executive’s alleged links with China.

Ray Dalio also highlighted the silence of many actors, who dread speaking out against this regime for fear of reprisals from Trump and his administration: “Most people are silent because they are afraid of retaliation if they criticize.”