Economy
Donald Trump Described as Like Ronald Reagan, Margaret Thatcher
Published:
Last Updated:
Donald Trump got a promotion of sorts. Even before his inauguration, the head of the world’s largest hedge fund has compared him to Ronald Reagan, Margaret Thatcher and Helmet Kohl. Ray Dalio of Bridgewater Associates believes Trump will bring a huge rotation to the capitalist system.
Dalio wrote on LinkedIn, in a post titled “Reflections on the Trump Presidency, One Month after the Election”:
Now that we’re a month past the election and most of the cabinet posts have been filled, it is increasingly obvious that we are about to experience a profound, president-led ideological shift that will have a big impact on both the US and the world. This will not just be a shift in government policy, but also a shift in how government policy is pursued. Trump is a deal maker who negotiates hard, and doesn’t mind getting banged around or banging others around. Similarly, the people he chose are bold and hell-bent on playing hardball to make big changes happen in economics and in foreign policy (as well as other areas such as education, environmental policies, etc.). They also have different temperaments and different views that will have to be resolved.
Additionally:
The shift from the past administration to this administration will probably be even more significant than the 1979-82 shift from the socialists to the capitalists in the UK, US, and Germany when Margaret Thatcher, Ronald Reagan, and Helmut Kohl came to power. To understand that ideological shift you also might read Thatcher’s “The Downing Street Years.” Or, you might reflect on China’s political/economic shift as marked by moving from “protecting the iron rice bowl” to believing that “it’s glorious to be rich.”
The massive shift may not happen as quickly, or as deeply, as Dalio expects. Trump has to run the gamut with Congress on many of his proposals as they become legislation. Some also may be challenged by the legal system and end up in the Supreme Court. If those bodies did not exist, change might be radical. However, they do exist.
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
