Ray Dalio

I went back and studied history.

last 500 years on these cycles.

There are big cycles that last about 75 years, give or take about 50 years of rises and declines.

And I put that out because I think it's so important people understand that I put it out in a book called The Changing World Order and in a free video called The Changing World Order.

So when we look at each one of those, they're important.

I also learned in studying history

that there were two other influences that were very big and you could see them.

The first was acts of nature, such as droughts, floods and pandemics.

The changes over time in

the evolution over time of people's learning and the technologies they make so i'd say there are the really five big influences that drive everything and they are the money and debt economic influence the internal conflict the external conflict the

the nature influence, and the, let's call it the technology influence.

So as we go now into this, it's important.

Again, I put it out as a free video on YouTube so that people could see it easily.

And when we get into whatever we're going to talk about, it'll be certainly in the context of those things.

And since they each affect each other, it produces what I call the big cycle.

No, it was obvious.

Look, I want to talk about the mechanics, really.

I'm so eager to pass along an understanding of the mechanics so people themselves can do the analysis.

um so one man's debts or another man's assets um okay so what happened the government had to sell a lot of debt and when it sold a lot of debt there were a lot of entities that bought a lot of bonds government bonds

Um, and money was very easy, which meant that short-term interest rates were very low.