Mr. Dalio has created a concise and elegant explanation (with clear, simple animation) of how things economic fit together.
Ray Dalio has done quite well building wealth in the American economy. So how does he feel about our present troubles?
... "Since irreconcilable differences are hardening. There is an increased likelihood that Congress and the president will not agree to raise the debt ceiling before time runs out," Ray Dalio, founder of Bridgewater Associates, one of the world's largest hedge funds, wrote. ...
On the other hand, Moody's Chief Exec is optimistic:
The CEO of credit rating agency Moody's ruled out the chance of a U.S. government default, even if an agreement over raising the debt ceiling is not achieved by mid-October. ...
"It is extremely unlikely that the Treasury is not going to continue to pay on those securities," Moody's CEO Raymond McDaniel said in an interview with CNBC. ...
Me, I haven't made up my mind.
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2 comments:
The fact that comments are disallowed on this youtube video is very amusing. So are the associated links to other videos that come up on the side. In the long term we all work for the Bank. Debt is their asset. Are you a Banker, or born into a banking family? Nope...
http://www.youtube.com/watch?v=rLAT8_9NvBA
Hey Steve(s), here's an example of a great alternative and meaningful economic discussion, about something very important to every person on this planet. Housing.
Not some rich profit oriented investor like Ray Dalio, talking about a purposefully constructed economic cycle that affects the entire monetary system, with the added BS that this whole cyclical phenomenon is a natural market occurrence derived from 'human nature' & "the fault of individuals for living beyond their means". Come on... there is a reason why the banks continually offer people credit cards, it's in their interest to create personal debt. There's also a reason why the major banks are "Too Big to Fail", they never want to break the institutions maintaining this debt mechanism. To by a house now days 98% of the population are required to take out a mortgage, creating a debt income for banks & wealthy land owners. It's a system to gain income from an individuals labor earnings, gain more assets by taking an individuals collateral if debt payments aren't met, debase an individuals future potential for wealth (ie: Competition) & gain/maintain control for the already wealthy & asset laden few.
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