What’s driving the debt crisis? with Ray Dalio

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Podcast Notes Key Takeaways “Whenever you’re living through a time that you haven’t lived through before, you might want to check history”– Ray DalioDalio’s recent book,The Changing World Order, looks at where the United States is on the historical 18-step curve for the rise and fall of an empireRay Dalio’s main points on what’s driving the debt crisis:Creation of enormous amounts of debt and the printing of money to monetize that debt. “My generation has borrowed a lot of money and left the next generation with a broken-down infrastructure.” – Ray DalioInternal political and ideological conflict. Is it hard to imagine that neither side will accept losing in 2024?International power equivalency and reorganization. The gap is narrowing for the United States as the world’s economic and military superpower.Continue reading for elaboration on these points, as well as comments on the state of capitalism and the wealth gap“The amount of value in financial wealth (stocks, bonds, etc.) dwarfs the total amount of real wealth, and that’s a problem because there’s no purpose in financial wealth other than to buy real wealth”– Ray DalioWhen this ratio gets too large, you get monetary inflationDalio believes there is an open competition for what real wealth asset will emerge as the best store of wealthPain + Reflection = ProgressMistakes are opportunities to learn. Humility balances audacity.

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Ray Dalio is the founder and co-chief investment officer of Bridgewater, the largest hedge fund in the world. He’s one of the 100 richest people on Earth. He’s also a best-selling author.

In today’s episode, Zachary Crockett chats with Dalio about his latest book, “The Changing World Order,” which uses a historical lens to examine why empires rise and fall — and why the US may be showing some signs of decline.

We cover a range of topics about the economy and Dalio’s life, including:

The 3 biggest issues America is facing right now

What’s driving the debt crisis

The growing wealth gap (and what we should do about it)

Thoughts on inflation and an impending recession

What to invest in during times of volatility

Whether or not crypto can become a reserve currency

Dalio’s worst failures as an investor

Common traits of successful people

The role luck plays in reaching the top

How Dalio helped McDonald’s launch chicken nuggets

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