The US financial situation is approaching a "tipping point" as government debt grows faster than income, according to billionaire investor Ray Dalio.
As the government borrows more money just to pay debt service while spending continues, the hole gets deeper and deeper, he said in an interview with CNBC on Friday.
“And it works by accelerating,” the Bridgewater Associates founder added. “We are at the point of this acceleration, which creates a supply and demand problem. And it’s compounded by other issues that we’re talking about.”
Among those problems is political...
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