A Look at the Financial System in the United States - Ray Dalio
Ray Dalio is one of the more intriguing finance personalities in the United States. He seems to understand basic consumer economic issues that generally a lot of guys in high finance tend to ignore or don't really factor into their overall worldview. Oftentimes they're so invested and sort of enmeshed in the intricacies and the pure quantitative operational aspects of finance in the U.S. That's one of the reasons why finance is often so difficult for people to understand.
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Ray Dalio, founder of Bridgewater Associates, has written several books on the world of investing and the economy in general based on his years of experience as manager of the world’s largest hedge fund. In the latest of his ‘Principles’ series, Dalio applies his quantitative approach of macro investing to analyzing countries, seeking to identify the factors that lead to strength such as education and work ethic, as well as lagging indicators such as a reserve currency that allow a country to spend beyond its means but ultimately presage a fall from dominance. Notably, Dalio sees China’s rise to the top of global power as likely, with America, while ahead, slowly declining. Tonight we debate the merits of his analysis, as well as the overall validity of a global macroeconomic approach that overlooks key factors such as demographics in forecasting long term power status.
