I Think the American People Are Capable of Putting Up With a Lot of Shit
I think there's a tendency that people have because of the conditions of life in America are just are so nightmarish and soul crushing to overrate potential rivals. The notion that family structures and large independent families and trusts don't play as much role anymore is just is silly, he says. And this idea that countries as we think of them didn't exist yet also just not practically true or in a lot of senses.
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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.
