Ray Dalio

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?

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?

And the most important thing is that these issues, these difficult issues, are handled well with people dealing well with each other rather than dealing badly. So when you ask about the Saudi trip, yes, I was lucky enough. I know people. both sides intimately. And I was happy to be there to see a good trip, something in which there's elements of harmony rather than chaotic chaos and fighting.

And the most important thing is that these issues, these difficult issues, are handled well with people dealing well with each other rather than dealing badly. So when you ask about the Saudi trip, yes, I was lucky enough. I know people. both sides intimately. And I was happy to be there to see a good trip, something in which there's elements of harmony rather than chaotic chaos and fighting.

And the most important thing is that these issues, these difficult issues, are handled well with people dealing well with each other rather than dealing badly. So when you ask about the Saudi trip, yes, I was lucky enough. I know people. both sides intimately. And I was happy to be there to see a good trip, something in which there's elements of harmony rather than chaotic chaos and fighting.

Well, these factors are going to be with us for a long, long time. And so I felt better, yes. But it's like somebody has a disease.

Well, these factors are going to be with us for a long, long time. And so I felt better, yes. But it's like somebody has a disease.

Well, these factors are going to be with us for a long, long time. And so I felt better, yes. But it's like somebody has a disease.

We are very exposed to a heart attack. So on that first factor, I just wrote this book. You know, I'm a global macro investor, have been for 50 years, actually longer than that, but had my business and so on professionally for 50 years. And I thought it was very, very important for people to understand the mechanics of debt because it's not understood.

We are very exposed to a heart attack. So on that first factor, I just wrote this book. You know, I'm a global macro investor, have been for 50 years, actually longer than that, but had my business and so on professionally for 50 years. And I thought it was very, very important for people to understand the mechanics of debt because it's not understood.

We are very exposed to a heart attack. So on that first factor, I just wrote this book. You know, I'm a global macro investor, have been for 50 years, actually longer than that, but had my business and so on professionally for 50 years. And I thought it was very, very important for people to understand the mechanics of debt because it's not understood.

So I did that and also how individuals should deal with it. That's why I did this study. So this is, in a nutshell, if we don't cut the budget deficit down to 3% of GDP, which is now probably going to be about 6.5% of GDP, if we don't cut it there, we will have... a heart attack. That's everything. In other words, money and debt, money is debt and debt is money.

So I did that and also how individuals should deal with it. That's why I did this study. So this is, in a nutshell, if we don't cut the budget deficit down to 3% of GDP, which is now probably going to be about 6.5% of GDP, if we don't cut it there, we will have... a heart attack. That's everything. In other words, money and debt, money is debt and debt is money.