92NY Talks Ray Dalio with David Rubenstein: How Countries Go Broke
24 snips
Jul 25, 2025 
Ray Dalio, founder of Bridgewater Associates and a leading investor, engages with David Rubenstein in a deep discussion about global debt. He raises urgent concerns regarding U.S. government debt and its implications for the economy. Dalio critiques America’s fiscal policies, shedding light on the struggles to compete with China. He shares strategies for financial stability amidst economic uncertainty, including the historical significance of gold as an investment. His new book offers insights on preventing a potential debt crisis and emphasizes learning from past mistakes.
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Mechanics Over Alarm
- Ray Dalio aims to explain the mechanics and cause-effect relationships in his book.
- He wants readers to understand the system so they can navigate and prevent crises.
From Bankruptcy To Diversification
- Dalio hit bottom and borrowed $4,000 from his father to pay bills.
- That failure taught him humility and led him to build diversified strategies at Bridgewater.
Countries Devalue, Don’t Default
- Dalio explains sovereigns usually avoid default by printing money and devaluing currencies.
- That process reduces real debt but erodes purchasing power.
