{"id":241658,"date":"2024-07-10T12:43:36","date_gmt":"2024-07-10T12:43:36","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/07\/10\/ray-dalio-refuses-to-endorse-biden-or-trump-in-u-s-presidential-election-race\/"},"modified":"2025-06-25T17:15:00","modified_gmt":"2025-06-25T17:15:00","slug":"ray-dalio-refuses-to-endorse-biden-or-trump-in-u-s-presidential-election-race","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/07\/10\/ray-dalio-refuses-to-endorse-biden-or-trump-in-u-s-presidential-election-race\/","title":{"rendered":"Ray Dalio refuses to endorse Biden or Trump in U.S. Presidential election race"},"content":{"rendered":"

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If you\u2019re one of the millions of Americans wondering how the country wound up stuck between a twice-impeached convicted felon and an increasingly frail incumbent for its next President, Ray Dalio can sympathize.\u00a0<\/p>\n

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The billionaire founder of Bridgewater, the world\u2019s\u00a0fourth largest hedge fund<\/a>, said the unfortunate reality is that he, along with about half of the country, wished there was a realistic alternative to Donald Trump and Joe Biden.<\/p>\n

\u201cI feel like I am faced with the choice between a strong, unethical, almost fascist Republican Party and a frail, untruthful and enigmatic Democratic Party,\u201d he wrote in a\u00a0column<\/a>\u00a0for\u00a0Time<\/em>\u00a0he simultaneously\u00a0posted<\/a>\u00a0on LinkedIn<\/a>. \u201cAs things now stand, there is no good presidential contender and no good party for me to choose from.\u201d<\/p>\n

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With a lot of very interesting and important things going on, I find myself reflecting and writing more. My latest piece deals with the latest developments affecting the domestic political order. \u00a0<\/p>\n

The article looks at the issues pertaining to the Democratic Party choosing its\u2026<\/p>\n

\u2014 Ray Dalio (@RayDalio) July 9, 2024<\/a><\/p><\/blockquote>\n

The speculator, who\u00a0handed over the reins<\/a>\u00a0at Bridgewater in 2022, had told Fortune CEO Alan Murray prior to the first primary contest in Iowa that he was already\u00a0dreading a potential rematch<\/a>\u00a0of Trump vs Biden.\u00a0<\/p>\n

Since Dalio wrote that he respected and liked Biden, he turned his crosshairs instead towards leading Democrats who sought to hide the President\u2019s \u201cweak and rapidly declining condition\u201d from the American public.<\/p>\n

By pretending the 82-year-old had the constitution to face another four years of the most demanding and important job around when it was clear the emperor had no clothes, the party undermined trust.\u00a0<\/p>\n

\u201cThat is obviously ridiculous and an insult to people\u2019s intelligence,\u201d Dalio wrote, adding claims that Biden could still function most hours of the day only lead to a \u201cterrible loss of confidence in its honesty and judgement\u201d.<\/p>\n

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\u201cDonald Trump is on track, I think, to win this election. And maybe win it by a landslide and take with it the Senate and the House,\u201d Democratic Sen. Michael Bennet tells me in a very newsy interview. \u201cI think we could lose the whole thing and it\u2019s staggering to me.\u201d pic.twitter.com\/k0M97PntVA<\/a><\/p>\n

\u2014 Kaitlan Collins (@kaitlancollins) July 10, 2024<\/a><\/p><\/blockquote>\n

Major Democratic donors, including the Disney<\/a> heiress\u00a0Abigail Disney,<\/a><\/span> have signaled their\u00a0unwillingness to fund<\/a>\u00a0his re-election campaign any further, comparing Biden to an\u00a0elderly parent<\/a>\u00a0whose car keys need to be taken away from them.<\/p>\n

\u2018Four months left\u2019 to prevent a sweep in November<\/h2>\n

On Tuesday, Michael Bennet emerged as the first Senate Democrat to\u00a0state publicly<\/a>\u00a0that Biden faced losing to his opponent in November. <\/p>\n

Speaking to CNN, the Colorado legislator even went a step further, arguing the President\u2019s continued candidacy could spark a landslide victory for Trump\u2019s party and a clean sweep of the House, Senate and Presidency.<\/p>\n

\u201cWe have four months to figure out how we\u2019re going to save the country from Donald Trump,\u201d he told the cable news network. \u201cThe stakes could not be higher.\u201d\u00a0<\/p>\n

In a sign of how conflicted the party is, Bennet acknowledged he only came forward after his comments\u2014made privately to his peers\u2014had been\u00a0leaked to the press<\/a>.<\/p>\n

In Dalio\u2019s column, the Bridgewater founder concluded the Democrats now had only three options left going forward, none of which were particularly appealing.\u00a0<\/p>\n

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.@jonstewart<\/a> explains where the concerns over Biden’s (and Trump’s) performance might be coming from\u2026with a chart! pic.twitter.com\/qY33Bd5XLK<\/a><\/p>\n

\u2014 The Daily Show (@TheDailyShow) July 9, 2024<\/a><\/p><\/blockquote>\n

They could either unite behind Biden in the hopes of white-knuckling it to a re-election victory and then tackling the problem afterward (\u201cbait and switch\u201d), hand Vice President Kamala Harris the nomination on a silver platter and drop her into the race (\u201ccoronation\u201d), or organize a shortened contest among leading contenders to take Biden\u2019s stead (\u201cmini-primary\u201d).<\/p>\n

While the latter was Dalio\u2019s preferred option, since it would offer Americans a choice as to who should lead the ticket, he acknowledged it would likely harm their chances of winning in November.<\/p>\n

\u201cI am still hoping for honest, smart, strong and ideally moderate-bipartisan Democrats (or Republicans) to step forward,\u201d he wrote.<\/p>\n

Until then, it looks as if neither Trump nor Biden will earn his vote\u2014or his donation checks.<\/p>\n<\/div>\n