Ray Dalio

So it needs a direction.

If you're looking at things like data centers, and what does it mean for AI, and what does it mean in many ways, in order to be competitive, there needs to be much more guidance, because it just is not gonna be adequate by itself.

So yes, I think under these types of circumstances, there needs to be that.

The question is whether that is done wastefully or productively.

The problem with governments, generally speaking, is it's done wastefully.

So you have state-owned enterprises or state-controlled and that, and people in Washington are not usually really good at this type of stuff, resource allocation.

The question is how the balance exists.

But yes, I think at these types of times, there needs to be more of that, and you hope that that's done well.

I think it could.

There's a certain dynamic

that makes it get worse and worse, you know?

So there's the debt dynamic that we talk about, but there's also, let's say, the internal political dynamic.

Do we see people coming both sides, being able to work,

together for results and that there's going to be votes that people believe and they believe the system is going to be fair for them so that if they lose, they accept losing because they believe the system is fair and so on.

You know, history shows that that's not likely and that things can worsen because people then, you know,

In history, it can get bad.

I don't know, one side shoots another side, and who knows where it is.

One would hope that there would be sort of a strong middle that would bring, for most people, and that you can get back to a system that's fair, but I think that that's a difficult thing to do.

I think the world order, the changing world order, we've gone from a multilateral world order, in other words, it was the American model,

that there's a united nations a world court a world health organization a world trade organization an imf a world bank and all of those world so that there is sort of to an attempt to bring rules and systems into place that are multilateral