Ray Dalio
๐ค SpeakerAppearances Over Time
Podcast Appearances
Yes.
And then where there are these symptoms, and there's financial, how do you pay?
So anyway, I'm rambling.
In some
places, sometimes in dynasties and so on, they're not often, what happens is there's a reversal or a fixing by somebody who can not, who's strong enough to deal with the issues.
For example, we have a debt issue.
We have all of these other issues and can bring people together
But there needs to be almost, Plato would say, the benevolent despot.
And that's in his cycle.
In other words, there's somebody who can stop the fighting and be smart and impose the disciplines that are necessary.
For example, there's a financial discipline.
How do we deal with the debt and the...
All the supply, demand, and so on.
Can we raise taxes?
Can we cut spending?
What are we going to do to bring about a budget balance or not a budget balance, let's say a deficit of 3% of GDP, which would sustain the set of circumstances?
What is that financial discipline?
What is that way of working together so we do not do each other harm?
Because we are at a point, let's say, as we come to the next midterm elections, you know, and there's a significant probability that the Republicans would lose the House and the
Talk of even could be the Senate.