Principles for Dealing with the Changing World Order

[caballero]

By Ray Dalio

In English:
https://www.youtube.com/watch?v=xguam0TKMw8

In Spanish:
https://www.youtube.com/watch?v=R34NjxDnhi4

[jj2007]

Certainly an interesting person

Dalio said on 60 Minutes that income inequality in the United States was a national emergency requiring reform. In July 2019, he again called for refinement of capitalism and called wealth inequality a national emergency

It seems he is a communist

The video is well done, certainly he engaged a good team for it. But he hasn't learnt one important lesson from history: that you cannot learn much from history, especially when technology changes the whole setup.

Plus, he obviously doesn't understand the most interesting difference between capitalism and market economy.

[hutch--]

I didn't have time to watch all of it but the general drift made sense, learn the lessons of history or keep making the same mistakes over and over again. With the US in decline and China on the rise on the economic front and with NATO/US/EU on the slide while the Russians are on the rise with the wild card being China with its massive industrial capacity also building a powerful military.

I grew up in the American era when they did a lot of things right, produced the "Happy Days" era for people in the US and were among the most productive industrial producers in the world. Erosion of its industrial base, corporate greed, dod eat dog economics, slowly but surely started to weaken the US as it outsourced its production offshore and lost its industrial capacity to a country like the rising China.

[NoCforMe]

Don't forget, Hutch, that contrary to what the uber-Randians and free-marketeer types will tell you, during those "Happy Days" in the US, we had historically all-time high tax rates. Up to 92% marginal rates (1952-3). Check it out: https://www.taxpolicycenter.org/statistics/historical-highest-marginal-income-tax-rates.

This is one of the things that allowed us to build the interstate highway system, among other major accomplishments of the era. Now we're turning into a hollowed-out winner-take-all economy. Hooray.

Regarding China: I'm secretly cheering for them. Why not? I may not like their "human rights" record, but that's not something for us, the Policeman of the World, to decide on. Apparently the Chinese population actually prefers a more authoritarian form of gov't. (Not counting egregious stuff like the forced labor camps, etc., but that's another kettle of fish.) So why shouldn't they have their piece of the pie? I don't think they necessarily want to drive the rest of the world into the ground; they just want to prosper. And who doesn't?

[jj2007]

Barre Seid is a 90 year old American businessman, and a donor who wants to change the World Order