Bridgewater just published Dalio’s 61 page treatise on Populism.

In summary, populism is…

• Power to the common man

• Through the tactic of attacking the establishment, the elites, and the powerful

• Brought about by wealth and opportunity gaps, xenophobia, and people being fed up with government not working effectively, which leads to:

• The emergence of the strong leader to serve the common man and make the system run more efficiently

• Protectionism

• Nationalism

• Militarism

• Greater conflict, and

• Greater attempts to influence or control the media

Stefan Jovanovich writes: 

“In the period between the two great wars (1920s-1930s) most countries were swept away by populism” has to be one of the great howlers of all time.

The political parties and leaders which held and gained power in Britain, France, Italy, Germany, Austria, Hungary, Romania, Greece, Spain, Portugal, Belgium, the Netherlands, Finland, and Poland were all dominated by imperialists whose policies assumed that the nation took priority and that acquiring greater territory was the ultimate goal of warfare itself. There were exceptions among leaders and nations - Leon Blum, the Czechs, the Norwegians, the Swiss and Swedes; but these people had no control over events.

Mr. Dalio should stick to counting his and other people’s money and leave history to us paupers.





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