Ray Dalio

I think there could be a lot of fighting in the midterm elections.

I think that we can do it. When I talk about the 3% solution, I think that we can cut and make the adjustments in a few percentages. to be able to do this without great trauma. So we can get to having that limitation done without great trauma, and it will be supported by interest rate moves. So that's first. We can get this thing done. We must get that thing done.

I think that we can do it. When I talk about the 3% solution, I think that we can cut and make the adjustments in a few percentages. to be able to do this without great trauma. So we can get to having that limitation done without great trauma, and it will be supported by interest rate moves. So that's first. We can get this thing done. We must get that thing done.

And if we don't, then of course, I think we are in an era That, of course, we're going to have great conflict in the United States. This is not a run to nirvana. This is, you know, the moment. You're going to have legal challenges. One state, the Democrats, you know, the blue states, the red states and within the states.

And if we don't, then of course, I think we are in an era That, of course, we're going to have great conflict in the United States. This is not a run to nirvana. This is, you know, the moment. You're going to have legal challenges. One state, the Democrats, you know, the blue states, the red states and within the states.

you're going to have a lot of disruption and you're going to have a lot of dissatisfaction and it's going to be about money and power. And so that's ahead. And so, like you say, there's the socialists, the left, the right, and that's why you're going to... This type of civil war or internal conflict is going to be with us. This is not a straight race to nirvana and prosperity.

you're going to have a lot of disruption and you're going to have a lot of dissatisfaction and it's going to be about money and power. And so that's ahead. And so, like you say, there's the socialists, the left, the right, and that's why you're going to... This type of civil war or internal conflict is going to be with us. This is not a straight race to nirvana and prosperity.

And you have that at the same time as you have the other elements. You know, they're the five big forces. So what I'm calling, so you have the debt money we talked about. There's the internal conflict that is, we're going to test the legal system and, you know, and we're in an environment now that might is right. internationally, you are going to have the same kind of conflict.

And you have that at the same time as you have the other elements. You know, they're the five big forces. So what I'm calling, so you have the debt money we talked about. There's the internal conflict that is, we're going to test the legal system and, you know, and we're in an environment now that might is right. internationally, you are going to have the same kind of conflict.

We touched on China. We're going to have conflict. You no longer have a cooperative, even an attempt at a cooperative world order. Things like the World Health Organization, the World Trade Organization, all of those are obsolete. And so we're going to have, again, might is right. And so it's going to be a period of greater conflict. You're going to have a technology war.

We touched on China. We're going to have conflict. You no longer have a cooperative, even an attempt at a cooperative world order. Things like the World Health Organization, the World Trade Organization, all of those are obsolete. And so we're going to have, again, might is right. And so it's going to be a period of greater conflict. You're going to have a technology war.

You can have increased military spending in this kind of environment. That creates a budget issue. And climate will be an economic issue as well as an environmental issue. So these expenses are going to go up. So all of those coming together. So yes, left, right, and conflict will be ahead of us.

You can have increased military spending in this kind of environment. That creates a budget issue. And climate will be an economic issue as well as an environmental issue. So these expenses are going to go up. So all of those coming together. So yes, left, right, and conflict will be ahead of us.

I think two important aspects of it is, does the legal system work well?

I think two important aspects of it is, does the legal system work well?

so that the Supreme Court, you know, you asked me about the independence of the central bank. You know, does law work? And I think there's gonna be a lot of challenges. I'm not saying it doesn't work. I'm saying that's the question. And that'll be very much state by state. You're going to see conflicts between the states and the central government. So how does that decision-making system hold up?

so that the Supreme Court, you know, you asked me about the independence of the central bank. You know, does law work? And I think there's gonna be a lot of challenges. I'm not saying it doesn't work. I'm saying that's the question. And that'll be very much state by state. You're going to see conflicts between the states and the central government. So how does that decision-making system hold up?

Is it might as right, you know, sanctuary city issues and such? Or is that going to all work well? I mean, that's, you know, that's the most important thing. And then we have in a time of great stress and challenge, you know, when things get worse. Right now, things are good. This is pretty good. but they're going to get worse. And then you have the international going on at the same time.

Is it might as right, you know, sanctuary city issues and such? Or is that going to all work well? I mean, that's, you know, that's the most important thing. And then we have in a time of great stress and challenge, you know, when things get worse. Right now, things are good. This is pretty good. but they're going to get worse. And then you have the international going on at the same time.

And so internally within countries, we have the same kind of conflict. You're seeing it happen in Europe. You're seeing the same dynamic. We talk about the problems that the United States is having regarding debt and so on. You have then the expense, same problem within Europe. You're seeing greater polarity, left, right. You're seeing economic... problems cause more confrontation.