Generalities and statistics. Who are those in the 40%? How did they get in that shape? The devil is in the details, folks. Pundits don't want you to know the details, it spoils their narrative.
Very simply, you won't change your point of view because you're already doing well in the current system. Dalio is a macro thinker. He is very clearly saying that there will be practical reprussions due to inequality. Note that he doesn't NOT specify that this is a monetary issue, but a quality of life issue. What he sees is that there are two economies, one is the bottom 60%: https://www.linkedin.com/pulse/our-biggest-economic-social-political-issue-two-economies-ray-dalio/ His proposed solution is that government monitor metrics related to quality of life, and not economics so there is no implication of free handouts. Ray is pointing out something that was probably started in Coming Apart by Murray (the black-people-have-lower-IQ guy).
Pretty sure Ray Dalio is on record saying the best way to get rich is to tell other people how to get rich. He made his money from fees as far as I know.
The point is, I wasn't always doing "well". There were 2 times in my adult life when if I scraped up all of my cash, I couldn't have afforded a pizza.... the first time, I literally ate left over scraps at a friend's restaurant. The second time, I had to borrow money to eat. Of course I wanted better for myself than that... so I did things most people wouldn't. Then, I lived well below my means (who does that today?), saved money and learned how to invest. Personally, I never got a damned thing from the government. I've been FUCKED by my government every day of my adult life. Yet, I prospered... in spite of it all. (I never got anything from the government when I was too poor to afford pizza, but I've paid $Millions in taxes... so I don't have any sympathy for those who basically "did nothing" yet bitch about how "life ain't fair to them".) Hey... you can still go to law school or medical school and command high pay. But are you willing to spend 7-14 years in school after HS to prepare yourself for that? If not, it's disingenuous of you to bitch about the success of those who do.
Fees from losing money? The difference... Dalio made billions organically. @Handle123 is an gink perv who posts from the library and hasn't made a dollar since Eisenhower.
Medical School c'mon man. I remember in the late 80's a family doctor was the shit, now the pharma reps coming to pump their products make more than they do.
That's nothing. I walked uphill to school both ways. I know all about having nothing and making something. That's completely irrelevant. Did you have 2 parents? Did they love you? Did they encourage you in school? Did you have gang bangers at school? Ever been to jail? Ever had to prove that a cop lied about having found $DRUG? It's these types of things that compound more significantly in that bottom 60%. I can bet you, at worst, you probably have only one or two negative outcomes to my list above. Your claims of being so poor that you had to borrow money/eat scraps probably occurred in your 20s. Big whoop. Imagine being born into it.
Personally, my mom left when I was 5. My father committed suicide when I was 11. I then lived with a mean man who beat me until I ran away at 16. No gang bangers, no drugs.... but life wasn't a "bowl of cherries" when I was young. (I've hated 2 people in my life... the guy who beat me and Obama!) If your life was rocky as a child, you need to get over it. Can't use "getting off to a rough start" as a lifelong excuse to behave badly or to not accomplish.
Well, no way to prove or disprove, but as I said, a couple of things. Most people in the bottom 60% will have most of the things in that tiny list. It's very easy to recover from bad parenting. It's harder to recover from a bad environment AND bad parenting.