@mrpekerd

RAY DALIO: U.S. ECONOMY IS 2 SEPARATE COUNTRIES NOW, AND ONE IS SCREWED Billionaire investor Ray Dalio says you can't look at the U.S. economy "as a whole" anymore because the gap between winners and losers is too extreme. About 3 million people (1% of the population) in AI and tech are thriving, while the bottom 60% are struggling hard. Dalio: “If you’re looking at, let’s say, the AI world, and really what amounts to about three million people - 1% of the population - leading, and then the 5 or 10% around them, you have one world that the whole world is dependent on. And then you have the bottom 60% of the population. Consider this, 60% of the American population has below sixth-grade reading level. That’s tough, and with that [they’re becoming] unproductive, and because of those things you have a dependency, an extreme dependency.” The numbers back him up. 22 states are in recession while only 16 are growing. California and New York carry the entire economy on their backs.

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