http://www.theworldin.com/article/12774/back-future?fsrc=scn/fb/wi/bl/ed/ Agree? Or disagree because this is the dawn of a new bull market? Interesting read.
For mega-managers, it's useful to be publicly permabearish, from a client-relations POV. If the market goes down, they can take credit for their prescience, do victory laps on CNBC and BBG TV. If the market goes up, they can say they warned clients beforehand they were positioned "cautiously" which minimizes blowback for underperformance.
haha. I think Ray Dalio is saying that we ARE in the same phase as 1935-1945. So, we are not waiting for 75 years. It's happening starting 2017 forward is my surmise of what he's saying. He might have a good macro-economics basis for his arguments and is much better qualified to speak on those terms than me given his long excellent track record of investing based on macro theses. However, from a chart and TA perspective, this time period does NOT look like anything from 1935-1945. Maybe it will start evolving to that in due time... Who knows...