Ray Dalio

Oh, I'm so glad to be here.

Oh, I'm so glad to be here.

Oh, I'm so glad to be here.

It was wonderful to see, really, to see Saudi Arabia, which has transformed itself or transformed because of the leader of Saudi Arabia, MBS, and to see the president and those together working together to do deals that are mutually beneficial. And to have a relationship, it was harmony. It was in some ways very contrasting with the chaos that we saw before. So it was good.

It was wonderful to see, really, to see Saudi Arabia, which has transformed itself or transformed because of the leader of Saudi Arabia, MBS, and to see the president and those together working together to do deals that are mutually beneficial. And to have a relationship, it was harmony. It was in some ways very contrasting with the chaos that we saw before. So it was good.

It was wonderful to see, really, to see Saudi Arabia, which has transformed itself or transformed because of the leader of Saudi Arabia, MBS, and to see the president and those together working together to do deals that are mutually beneficial. And to have a relationship, it was harmony. It was in some ways very contrasting with the chaos that we saw before. So it was good.

It was comforting and good.

It was comforting and good.

It was comforting and good.

Yeah. Look, we have difficult fundamentals to deal with. Most all buying power comes from credit. Credit produces debt. If you don't earn enough money to pay back the debt, you're going to have a debt problem. And that's true for countries as a whole, but they can print money.

Yeah. Look, we have difficult fundamentals to deal with. Most all buying power comes from credit. Credit produces debt. If you don't earn enough money to pay back the debt, you're going to have a debt problem. And that's true for countries as a whole, but they can print money.

Yeah. Look, we have difficult fundamentals to deal with. Most all buying power comes from credit. Credit produces debt. If you don't earn enough money to pay back the debt, you're going to have a debt problem. And that's true for countries as a whole, but they can print money.

So sometimes they print money to deal with the debt problem, but it still means the value of money goes down, you have inflation, you have a problem. We have that kind of problem. This is not a new situation. This is something that's built up over a generation.

So sometimes they print money to deal with the debt problem, but it still means the value of money goes down, you have inflation, you have a problem. We have that kind of problem. This is not a new situation. This is something that's built up over a generation.

So sometimes they print money to deal with the debt problem, but it still means the value of money goes down, you have inflation, you have a problem. We have that kind of problem. This is not a new situation. This is something that's built up over a generation.

The credit market system, the capital market system, is like the circulatory system in our bodies because it brings nutrients, spending power, to be able to then produce things. But if you let the debts build up, it's like plaque. And what happens with that is that plaque begins to squeeze out other spending, and problems can occur.

The credit market system, the capital market system, is like the circulatory system in our bodies because it brings nutrients, spending power, to be able to then produce things. But if you let the debts build up, it's like plaque. And what happens with that is that plaque begins to squeeze out other spending, and problems can occur.

The credit market system, the capital market system, is like the circulatory system in our bodies because it brings nutrients, spending power, to be able to then produce things. But if you let the debts build up, it's like plaque. And what happens with that is that plaque begins to squeeze out other spending, and problems can occur.

Okay, if we think of it like a doctor looking at a patient, and I'm looking at the country, I would say, we have, you've accumulated a lot of plaque, and you are at risk. So this is the lay of the land, okay? Now the question is, how is that handled?

Okay, if we think of it like a doctor looking at a patient, and I'm looking at the country, I would say, we have, you've accumulated a lot of plaque, and you are at risk. So this is the lay of the land, okay? Now the question is, how is that handled?