DAVOS, Switzerland -- The world today looks very much the way it did in the 1930s, and Ray Dalio doesn't like it one bit. Referring to increasing wealth inequality, the rise of nationalism, and a rebellious middle-class voting for Donald Trump and Brexit, the founder of the massive Bridgewater Associates hedge fund warned that Europe and the US face a dark future unless they turn back the rising tide of populism. Populism usually devolves into extremism, Dalio said.