Ray Dalio says the global economy is heading for a 'great sag.' The billionaire investor says the world is dealing with financial challenges on a scale not seen since the 1930s, when economies were deep in the throes of the Great Depression.
Beijing Ray Dalio doesn't want to use the word "recession" when talking about the global economy. But he does believe it is headed for what he dubbed the"Great Sag."
The billionaire hedge fund founder told CNN Business on Thursday that the world is dealing with financial challenges on a scale not seen since the 1930s, when economies were deep in the throes of the Great Depression. Pension and health care debts are piling up faster than they can be funded, he said. And with interest rates as low as they are around the world, Dalio said he doubts that further action from central banks will do much to help.
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