Ray Dalio

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737 appearances 1 recordings 1 series first heard Jul 2026 last heard 17 Jul

Ray Dalio’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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My First Million · Ray Dalio: The principles that made me a billionaire · 17 Jul 2026 podcast

And it's a very simple thing.

If you acquire more debt

then you're earning over that.

Your debt service payments will squeeze out your spending.

Okay, they grow.

And that is like in your circulatory system, that's like plaque being built up in your circulatory system.

And when that happens and it becomes painful, you have a debt restructuring and also one man's debts are another man's assets.

So if you're producing a lot of debt, let's say government's running a large budget deficit, that means it has to sell bonds.

And then who are the buyers of the bonds?

And how does that work?

So it has a mechanical part of it.

That's one of the forces.

The other forces is wealth and values differences.

So there's the political force, which has to...

Wealth gaps, values gaps, as they become greater, that's a greater threat to democracy.

That's a greater threat to, in other words, when you get to, do you have irreconcilable differences?

So you're not going to compromise and you're not going to even follow the system.

That's a risk.

Okay, that's a risk now.

Okay, we have the first risk.

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