“He returned to that theme in his talk, asserting that lack of income growth among the bottom 60% of the population had lead to a loss of hope reflected in rising death rates linked to suicides and opiate abuse. Dalio contrasted that with the New Frontier years of the Kennedy administration, when the nation thought it could eliminate poverty and set a goal to reach the moon. ‘I think that is the magic of the United States and we are losing that.'” How do you know when capitalism is in crisis? When a conference that hosts billionaires focus on the urgent need to reform capitalism or face revolution.

+ Bridgewater’s Ray Dalio: Why and how capitalism needs to be reformed. “Most people in the bottom 60% are poor. For example, only about a third of the bottom 60% save any of their income in cash or financial assets. According to a recent Federal Reserve study, 40% of all Americans would struggle to raise $400 in the event of an emergency.” (Many interesting, and pretty depressing, stats in this piece.)

+ “For the past several decades, inequality has been on the rise in developed and developing countries alike. But in an age of widening divides between rich and poor, South Africa stands out because of its squandered hopes.” Time: What South Africa Can Teach Us As Worldwide Inequality Grows.