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I drink your milkshake! a metaphor for capitalism
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<blockquote data-quote="rickyb" data-source="post: 3825121" data-attributes="member: 56035"><p>interesting article on economic booms and busts including events leading up to nazi germany.</p><p></p><p><a href="https://ritholtz.com/2018/11/transcript-ray-dalio-bridgewater/" target="_blank">Transcript: Ray Dalio, Bridgewater - The Big Picture</a></p><p></p><p></p><p>DALIO: I think it happens over and over again because of that disenfranchised and also I don’t think they have much contact, I mean it’s totally understandable I think in the sense that <strong>capitalism right now is not working for the majority of Americans </strong>and I’m a hard-core capitalist I wish I could, but if <strong>you take the bottom 60%, I did a study of carving out what is it like the bottom 60% because I want to look at the majority.</strong></p><p><strong></strong></p><p> <strong></strong></p><p><strong>Those conditions are bad, there hasn’t been income growth there…</strong></p><p></p><p>RITHOLTZ: 30 years, right? On the real basis.</p><p></p><p>DALIO: That’s right. There’s rising debt, there’s rising death rates, there are death rates from opiates, death rates by — from suicide…</p><p></p><p>RITHOLTZ: Suicide.</p><p></p><p>DALIO: And so on and those conditions.</p><p></p><p>RITHOLTZ: Less economic mobility, there is a whole gamut.</p><p></p><p>DALIO: We used to have a middle class that was on the assembly line and the kind of work so we have a greater economic polarity, you have, so there’s a disenfranchised group out there that’s important. We’re also – we don’t have that same sort of contact with each other. You know, I live in Greenwich Connecticut in Greenwich so I think so exemplifies this. <strong>And I – we live in Fairfield County, Greenwich, Connecticut, it’s I think, still the wealthiest state in the United States, anyway, right up there. In that state there is one County that is rich and the rest of the state pretty much is poor and it’s going in terrible situation.</strong></p></blockquote><p></p>
[QUOTE="rickyb, post: 3825121, member: 56035"] interesting article on economic booms and busts including events leading up to nazi germany. [URL="https://ritholtz.com/2018/11/transcript-ray-dalio-bridgewater/"]Transcript: Ray Dalio, Bridgewater - The Big Picture[/URL] DALIO: I think it happens over and over again because of that disenfranchised and also I don’t think they have much contact, I mean it’s totally understandable I think in the sense that [B]capitalism right now is not working for the majority of Americans [/B]and I’m a hard-core capitalist I wish I could, but if [B]you take the bottom 60%, I did a study of carving out what is it like the bottom 60% because I want to look at the majority. Those conditions are bad, there hasn’t been income growth there…[/B] RITHOLTZ: 30 years, right? On the real basis. DALIO: That’s right. There’s rising debt, there’s rising death rates, there are death rates from opiates, death rates by — from suicide… RITHOLTZ: Suicide. DALIO: And so on and those conditions. RITHOLTZ: Less economic mobility, there is a whole gamut. DALIO: We used to have a middle class that was on the assembly line and the kind of work so we have a greater economic polarity, you have, so there’s a disenfranchised group out there that’s important. We’re also – we don’t have that same sort of contact with each other. You know, I live in Greenwich Connecticut in Greenwich so I think so exemplifies this. [B]And I – we live in Fairfield County, Greenwich, Connecticut, it’s I think, still the wealthiest state in the United States, anyway, right up there. In that state there is one County that is rich and the rest of the state pretty much is poor and it’s going in terrible situation.[/B] [/QUOTE]
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