Dalio, like most who have "gotten theirs", fails to mention that the world changed overnight when Nixon removed us from Bretton-Woods and the gold standard. Without a mostly useless gold reserve to defend the need for most restraint in public purpose spending was made moot and austerity became entirely a political choice, not economics.

His greatest fear as part of the oligarchy is not that the bought and corrupt political structure will take his wealth, but that it will make that wealth irrelevant to funding the public purpose. He shouldn't worry though, as the political class is fully aware of their symbiotic relationship and the benefit they derive from promoting econ myths among a mostly econ illiterate voting population.