Billionaire Ray Dalio predicts there is a 30 per cent chance of US Civil War in the next ten years because of 'emotional' political polarization, but says the Constitution will probably save the nation.
Dalio is the founder of the world's largest hedge fund firm, Bridgewater Associates. This year he was ranked as the 88th richest person in the world with a net worth of $20.3 billion.
He makes his bold claims in his new book, 'Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail,' which was published on November 30.
Dalio explains that he believes there is a 'dangerously high risk' that the country will have a civil war within in the next ten years. He points to the rules of governance being 'ignored' and the 'exceptional amount of polarization' currently seen in the country.
Ray Dalio predicts there is a 30 per cent chance of US Civil War in the next decade in his new book 'Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail'
He makes his bold claims in his new book, 'Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail,' which was published on November 30
'For example, when close elections are adjudicated and the losers respect the decisions, it is clear that the order is respected,' he writes.
'When power is fought over and grabbed, that clearly signals the significant risk of a revolutionary change with all its attendant disorder.'
He notes that people, including high-ranking officials, have openly doubted the validity of recent elections and expressed their willingness to fight for their beliefs.
Dalio cites several studies as statistical proof of his claims of polarization within the country showing the deep divide specifically between the two political parties.
A 2019 Pew survey found that 55 per cent of Republicans and 47 per cent of Democrats viewed the other as more immoral than other Americans, and 61 per cent of Republicans and 54 per cent of Democrats said that those of the other party don't share their values.
Also, 79 per cent of Democrats and 83 per cent of Republicans said they had 'cold' or 'very cold' feelings for members of the other party; 57 per cent of Democrats and 60 per cent of Republicans selected 'very cold'.
He also cited another study concluding that 80 per cent of Democrats think that the Republican Party has
