Bring in show music please.

This is Squawk Pod, the daily podcast brought to you by the team behind Squawk Box.

NYC, this is CMBC Control 2.

C. NBC's essential morning show.

Every day get the best stories, debate, and analysis. See Billionaire investor Ray Dahlio, founder of Bridgewater Associates, speaks candidly on the implications

of wealth and power in the United States.

Dan Rifle, he says every billionaire is a policy failure.

Do you agree with that?

No, no, no, that's so screwed up.

The American Dream, the pros and cons of capitalism,

and some ground rules for sparring with Joe.

Can we do this without interruptions?

I'll say something, and you say say something and we do it that way?

Fine. Okay, go ahead.

I'm the NBC producer Katie Kramer. It's Thursday, December 26, 2019. Happy boxing day to the about 8% of Squawk Pod listeners who celebrate.

Squawk Pod today, a spirited conversation with Ray Dahlio, billionaire, philanthropist,

Burning Man Attendee, and manager of the largest hedge fund in the world.

This is Squawkpot.

Ray Dahlio is widely recognized on Wall Street and beyond as an investing

visionary. He started his firm Bridgewater Associates out of his two-bedroom

apartment in New York in 1975. It is now the largest hedge fund in the world, with the client list

comprised of supernational agencies, central banks, sovereign wealth funds, well,

...