Some Of Trump's Elite Support Is Melting Away Over The Deranged MAGA Policy Agenda

Even Musk Is Setting Trump Up To Take The Fall For A Recession

Founder and manager of Bridgewater, the world’s biggest hedge fund, Ray Dalio (net worth $20 billion), has worked hard to keep his public identity non-partisan, even if he has written about the need to reform capitalism so that it works better for “most Americans.” He’s even called America’s extreme wealth inequality a national emergency. He’s been slipping a little, warning about Trump’s tariffs and other economic policies and recent warning about “ something worse than a recession.”

And if there was still any doubt of where he stands in regard to MAGA, his new (free) book, How Countries Go Broke: The Big Cycle, makes it pretty clear.

“When I say that the policies President Trump is using to ‘make America great again’ are remarkably like the policies that those of the hard-right countries in the 1930s used,” he wrote, “that should not be controversial.” But he was talking about Hilter and Mussolini and their brand of fascism. Referencing Trump directly, he wrote “It would be fair to argue that his attempts to maximise the power of the presidency by bypassing the other branches of government are analogous to the ways that Andrew Jackson (of the right) and Franklin D Roosevelt (of the left) did, though he is even more aggressive than they were. We will see how far he will take it… The question is what will the controls be and how far will Trump push things? Unlike for a CEO, there is no board for the US president. Are there effective regulators in place? If so, it is not clear to me who they are... Trump wants to dictate policies rather than have a classic ‘let’s work together across party lines’ approach to governing. This confrontational approach is an extension of how great internal political conflict has become in recent decades.”

Even the billionaire who spent over a quarter billion dollars— maybe a lot over— helping Trump ooze backing the Oval Office, says he’s disappointed in Trump’s policies. “In Musk’s case,” reported CBS News, “it’s the price tag on the domestic policy bill passed by Republicans in the House last week and heavily backed by Trump… ‘I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing,’ Musk said. Musk's comments appear to put him at odds with Trump, who has championed the massive spending package. The legislation— which still needs to pass the Senate— would extend Trump's signature 2017 tax cuts, boost border security spending, impose work requirements on Medicaid and roll back clean energy tax credits. The tax provisions of the package… would increase the deficit by $3.8 trillion by 2034, according to the Congressional Budget Office. ‘I think a bill can be big or it can be beautiful,’ Musk told CBS News, ‘but I don't know if it can be both. My personal opinion.’”