Ray Dalio Calls Debt Limit A Farce: ‘Works Like A Bunch Of Alcoholics Who Write Laws To Enforce Drinking Limits’

Ray Dalio, the founder and CIO of hedge fund Bridgewater Associates, believes what is called the debt limit never actually limits the debt, but is in fact a farce.

What Happened: “It’s a farce that works like a bunch of alcoholics who write laws to enforce drinking limits, and when a limit is reached, they do a farcical negotiation that temporarily eliminates the limit which allows them to have the next drinking binge until they reach the next limit at which time they go through the next farcical negotiation and continue to binge,” Dalio wrote in a post titled ‘The Farce and Consequences of the Debt Limit and the Debt’ on LinkedIn. 

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“I gather that this is …