I'm happy to learn from, you know, people on different walks of life with different skills and knowledge. What's the problem for me is when I try to read a book, and I just, I can't like the second chapter because there's too many basic mistakes. So one of the things that really threw me off in trying to read this book was how he wanted to have historical context for this. He does this thing where he acts like a World Reserve currency is some kind of historical thing. No, the pound was sort of a standard prior to that, and before that, gold.
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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.
