Ray Dalio

We had a large wealth gap and then they sat down and they figured out how do we keep it orderly and how do we change the circumstances with whether it's taxes or how do you reorganize it so that the system works well.

There is a risk also at the same time because the world is going through that.

There's a risk of conflict.

So in Germany,

Hitler came in power in 1933, and he came in power in 1933 because there was a lot of internal fighting as to try to bring, produce order, because everybody, the left and the right, you know, the communists and the fascists, and they're all fighting about wealth, because everybody's fighting about wealth when you have a downturn.

And then they need, they were democracies, four democracies existed then,

that chose not to be democracies because they became so disorderly that they wanted some strong leader to take charge and run the country.

And then, of course, we had a bunch of those types of leaders, and then they had a war.

That's how World War II happened.

So when you look at that, you know, that's kind of the political landscape.

But back to the average man in terms of his finances, I would say the important thing is those three elements to have a plan and maybe to have a plan with both your family.

You know, how do you get down when things got tough and, you know, and then you have to look at

You know, what happens in policy?

Well, policy is it depends on the person.

Some people would understand more about policy than other people.

If if you know.

So it depends on what they should do.

Depends on what they're able to do well.

Education is the most important thing.

I was raised with a very modest economic background.