Ray Dalio

We will turn it over to him.

And he said, I will do that only as long as all the political parties remain united, because if they don't remain united, we're going to get into this dysfunctional fighting, and I know it's not going to work.

So for a period of 18 months, he was prime minister of Italy and very loved.

People loved him.

And then one of the political parties dropped out because they disagreed on his approach for, I think it was handling Ukraine.

and he said, okay, now I'm resigning, even though everybody wanted him to stay overwhelmingly.

But he said, I can't govern under that kind of a fragmented environment.

And, you know, in other words, he knew where it was going to go.

So he resigned.

And in the period between him resigning

and actually turning it over to the new prime minister, we had lunch.

And we were talking about these things.

And what he was describing and what exists is the issue that we're talking about, the inability of a leader to be able to lead when there's so much fragmentation.

And if you look at the history of democracies, and you go back to Plato, back Plato's Republic, he wrote Plato.

You know, a lot of people think Americans invented democracy.

It existed way back, you know, in the Roman and Greek times and all that.

And so he looked at the cycles.

And what he said was there's this cycle of these different systems.

One leads to another in this way where what happens is the greatest risk of democracy is an anarchy.

Because the fragments, it becomes uncontrolled.