‘Like the 1930s’: Ray Dalio warns Trump’s agenda could plunge the US into times ‘worse than a recession.’ How to prepare

Bridgewater founder Ray Dalio warned that President Trump’s economic agenda — notably disruptive reciprocal tariffs combined with high debt and geopolitical shifts — could trigger a breakdown in the U.S.-backed monetary order and “something worse than a recession.” The piece flags risks for markets, citing slowing job growth, a 2.1% 2025 GDP gain but only 181,000 jobs added that year (an 88% drop from 2024), 4.3% unemployment in March and 3.3% CPI year-over-year driven by energy. The article frames these forces as potential catalysts for greater volatility and downward pressure on U.S. equities (US SP 500), and recommends defensive personal finance moves — emergency funds, debt reduction and diversification into gold and real estate — which could boost demand for safe-haven assets and alter sector flows if risks materialize.