Ray Dalio

So you have to find the path.

If you find that path and you can't find it alone, the way you find that path is to speak to other people, get many ideas by other people.

And then, you know, you have to keep yourself trial and error.

You've got to keep at it.

Like when you're getting a job or getting a skill, it's a lot of trying.

And so that requires a certain amount of discipline.

And if you have a discipline problem, get help with the discipline problem.

Have somebody kick you out of bed or whatever it is that you can get there.

There is a path.

You just don't see the right path at the moment.

I look at three major forces that are happening now, haven't happened in our lifetimes.

but have happened many times in history.

And those three major forces are the creation of a lot of debt and the printing of a lot of money to buy that debt, particularly because the government is running large deficits, and so they don't have enough money, so that government has to print that money.

So that creation of all of that, that debt and its financial implications and its economic implications is one force.

The second force is the internal conflict, the amount of conflict that's internally largely due to the largest wealth gaps that we've had since the 30s.

And that produces populism of the left and the right, particularly when there are financial difficulties.

The third force

is the rising power, the challenging the existing power, largely in the form of China and to some extent Russia.

So let's call it the great power conflict.

Because in 1945, you know, there's this cycle.