Donald Trump wants to “decipher” policies like the far-right administration in the 1930s, big billionaire investors warn.
Ray Dario writes in a new book that the US president acts like a non-board chief executive, as he is trying to expand more aggressively and aggressively than his predecessors Andrew Jackson and Franklin D. Roosevelt.
The 75-year-old Dario is the founder of the investment company Bridgewater Associates, one of the world’s largest hedge funds, and is a rare critic of the system that created his wealth. His writings, How the Country Brokes: Large Cycles deal with national debt and Trump’s attacks on democratic norms. The Guardian got a copy.
Evoking the decade of power when fascists such as German Adolf Hitler and Italian Benito Mussolini, Dario writes:
He continues: “It is fair to argue that his attempts to maximize the power of the President by bypassing other divisions of the government are similar to the way Andrew Jackson (right) and Franklin D-Roosevelt (left).
In an age of conflict, Dario points out that offensive leaders work to eliminate opposition, make changes to the law, envision special authority, take control of the media and create government propaganda. When conflicts become more severe, new laws and punishments target the opposition.
Since taking office in January, Trump has signed a record 152 executive orders, focusing his power and watching Congress. He ignored court orders and detained or deported immigrants without legitimate proceedings. He has aimed to reward law firms, media companies and universities for bent over his will and punishing those who are against him.
“Is Donald Trump a demagogue?” Dario describes the demagogue as a political leader who gains power by appealing to people’s emotions, fear, prejudice and desires, usually stirring populist emotions and promises simple solutions to complex problems.
“The question is, what control is, and how far does Trump push things? Unlike CEOs, there is no US presidential committee. Are there effective regulators? If so, it’s not clear who they are.”
The authors argue that Trump’s strongman style is a symptom of American polarized politics. “Donald Trump wants to direct policies rather than to “collaborate the party line” of governance. This confrontational approach is an extension of how much internal political conflict has become in recent decades. ”
Dario grew up in a middle-class neighborhood on Long Island in New York. He began investing at the age of 12 when he caddyed at a local golf course. He went to Harvard Business School, had short stints for two Wall Street companies, and in 1975 he started Bridgewater from a two-bedroom apartment in New York. It has become the world’s largest hedge fund.
In the way the country was broken, Dario will identify government debt (currently above 36TN) as the most serious issue in the United States, outline what is called the “big debt cycle” and provide advice on how people can protect themselves from fallout.
Businessmen who correctly predicted the 2008 financial crisis accused the Trump administration of cost-cutting measures of being likely to have negative consequences as “many people hurt by them will fight back, weakening or eliminating valuable support systems.”
He added that his own wife works to help low-income students in underprivileged areas who suffer from inadequate nutrition. Cancellation of the school lunch program they rely on “has terrible secondary consequences.”
Trump’s policy aims to put more money, power and freedom into the hands of the most productive people, Dario adds. “It’s not easy to mismanage and manage and improve amid such a mess, whilst keeping people happy when democracy is being destroyed. I recommend that you regularly check how the bottom 60% of people do and feel.”