Ray Dalio

equals progress okay the pain is a messenger so now if you reflect on that pain you'll understand how reality works better and you'll understand principles for dealing with reality to get better outcomes so my reaction function has changed in other words when these things happen and i learn how to get better so these are the things i want

equals progress okay the pain is a messenger so now if you reflect on that pain you'll understand how reality works better and you'll understand principles for dealing with reality to get better outcomes so my reaction function has changed in other words when these things happen and i learn how to get better so these are the things i want

equals progress okay the pain is a messenger so now if you reflect on that pain you'll understand how reality works better and you'll understand principles for dealing with reality to get better outcomes so my reaction function has changed in other words when these things happen and i learn how to get better so these are the things i want

That's right. Every painful experience is a learning lesson. Yes.

That's right. Every painful experience is a learning lesson. Yes.

That's right. Every painful experience is a learning lesson. Yes.

I think that right now we are at a decision-making point and very close to a recession. And I'm worried about something worse than a recession if this isn't handled well. A recession is two negative quarters of GDP and whether it goes slightly there, we always have those things. We have something that's much more profound. We have a breaking down of the monetary order.

I think that right now we are at a decision-making point and very close to a recession. And I'm worried about something worse than a recession if this isn't handled well. A recession is two negative quarters of GDP and whether it goes slightly there, we always have those things. We have something that's much more profound. We have a breaking down of the monetary order.

We are going to change the monetary order because we cannot spend the amounts of money, so we have that problem. And when we talk about the dollar and we talk about tariffs, we have that. We are having profound changes in our domestic order. How ruling is existing. And we're having profound changes in the world order. Such times are very much like the 1930s.

We are going to change the monetary order because we cannot spend the amounts of money, so we have that problem. And when we talk about the dollar and we talk about tariffs, we have that. We are having profound changes in our domestic order. How ruling is existing. And we're having profound changes in the world order. Such times are very much like the 1930s.

I've studied history and this repeats over and over again. So if you take tariffs, if you take debt, if you take the rising power challenging the existing power, if you take those factors and look at the factors, So that's Ray Dalio.

I've studied history and this repeats over and over again. So if you take tariffs, if you take debt, if you take the rising power challenging the existing power, if you take those factors and look at the factors, So that's Ray Dalio.

Well, what I mean by a civil war, I should say a type of civil war, right? And what I mean is that there are irreconcilable differences that each side is willing to fight for. In order to get the outcomes that they want and that in that environment, the issues of how does the legal system work, is that going to stand in the way of that fight or is there going to be a fight that will.

Well, what I mean by a civil war, I should say a type of civil war, right? And what I mean is that there are irreconcilable differences that each side is willing to fight for. In order to get the outcomes that they want and that in that environment, the issues of how does the legal system work, is that going to stand in the way of that fight or is there going to be a fight that will.

Well, what I mean by a civil war, I should say a type of civil war, right? And what I mean is that there are irreconcilable differences that each side is willing to fight for. In order to get the outcomes that they want and that in that environment, the issues of how does the legal system work, is that going to stand in the way of that fight or is there going to be a fight that will.

make the cause more important than anything. So that's the type of situation that we're in. And those gaps, we understand there's wealth and values gaps that are entering into this. We've seen this through history. So where that goes is a different question. But we are in that type of civil war, are we not?

make the cause more important than anything. So that's the type of situation that we're in. And those gaps, we understand there's wealth and values gaps that are entering into this. We've seen this through history. So where that goes is a different question. But we are in that type of civil war, are we not?

make the cause more important than anything. So that's the type of situation that we're in. And those gaps, we understand there's wealth and values gaps that are entering into this. We've seen this through history. So where that goes is a different question. But we are in that type of civil war, are we not?

Normally, they're resolved through conflict because you get to the point where both sides can't reach agreements. Both sides don't even want to talk. Both sides don't want to respect the rule of the law. So when we're dealing with things like sanctuary city issues and we're dealing with enforceability, who has the enforceability? Okay. And you almost have to play out. Okay.

Normally, they're resolved through conflict because you get to the point where both sides can't reach agreements. Both sides don't even want to talk. Both sides don't want to respect the rule of the law. So when we're dealing with things like sanctuary city issues and we're dealing with enforceability, who has the enforceability? Okay. And you almost have to play out. Okay.