'Disastrous financial collapse': Ray Dalio on problem bigger than raising debt ceiling

Raising the U.S. $31.4 trillion debt limit without fixing the issue at large is a"kick-the-can-down-the-road" type solution that will eventually lead to a"disastrous financial collapse," billionaire and Bridgewater's founder Ray Dalio warned in a LinkedIn post.

"Increasing the debt limit the way Congress and presidents have repeatedly done, and most likely will do this time around, will mean there will be no meaningful limit on the debt. This will eventually lead to a disastrous financial collapse," Dalio wrote. This will eventually create a debt crisis that will see a run on the central bank with government bonds getting sold.

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