London —

The United States is sliding into 1930s-style autocratic politics, billionaire Ray Dalio has warned.

“I think that what is happening now politically and socially is analogous to what happened around the world in the 1930-40 period,” the founder of Bridgewater Associates, one of the world’s largest hedge funds, has told the Financial Times.

State intervention in the private sector, such as the Trump administration’s recent decision to take a 10% stake in struggling chipmaker Intel, is the sort of “strong autocratic leadership that sprang out of the desire to take control of the financial and economic situation,” Dalio said in a wide-ranging interview published Tuesday.

Dalio has frequently criticized President Donald Trump’s policies. In June, Dalio opposed Trump’s domes

See Full Page