2min chapter

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#251 – Ray Dalio: Money, Power, and the Collapse of Empires

Lex Fridman Podcast

CHAPTER

The Lay of the Land That the Prior Generations Put You In

There's a momentum when things degrade, says Alan Greenspan. For example, indebtedness is politically desirable for those to borrow money and spend because their constituencies only look at what they get. And so that's the lay of the land that the prior generations put you in, and there you are.

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