Ray Dalio

I want to get my stuff.

I want to get real stuff.

that's a real problem.

And so that's the global picture on the first of those five influences, right?

The fact that it's happening with the other influences is very important because they affect each other.

So this financials picture, by the way, is the same as in the 1930 to 45 period and the same as they were throughout history.

It started with a financial crisis that then caused internal conflict.

What do we know about the financial crisis?

The populism of the left and populism of the right in this internal fighting.

And four countries that were democracies chose not to be democracies because of the conflicts that were existing.

And those countries were...

Germany, Italy, Spain, and Japan, because there's a lot of internal conflict over wealth when you have that.

And so that creates a lot of internal disorder, a lot of fighting, okay?

In some ways, almost civil wars forms everywhere, some form of civil war.

Who wins the internal war?

And, of course, that happens also at the same time as there's the external conflict.

First of all, everybody's fighting over resources.

You have populists come to power, and the populists are not compromisers the way democracies work.

Yeah, let's fight.

I'm going to fight for you.