Ray Dalio says the economy looks like 1937 and a downturn is coming in about two years

Hedge fund legend Ray Dalio says the economy looks like it did in the late 1930s in many ways: interest rates hit zero in the early stage of each crisis, asset prices are near full capacity, interest rates are still low, the wealth gap has widened, populism is on the rise, and global tensions are rising. Dalio says: "We're in the later part of the cycle, the part of cycle in which monetary policy is tightening and there's not much capacity to squeeze out of the economy." He expects a...