Ray Dalio Discusses Major Financial Crises (Podcast)
Comment of the Day

November 20 2018

Commentary by Eoin Treacy

Ray Dalio Discusses Major Financial Crises (Podcast)

I found this interview of Ray Dalio to be very educational and recommend it to subscribers.

Eoin Treacy's view

Veteran subscribers who have been listening to the Long-Term audios/video over the last 18 months will be familiar with my refrain that the rise of populism is not an isolated incident but a symptom of a much wider global change where the centre is breaking.
 
That challenge to the status quo is resulting in demand for an alternative which is leading to an exploring of legitimacy by what once would have been considered fringe elements. The very fact people still consider this a battle between the left and right is a testimonial to how engrained centrism has become in the public discourse and how useless it is today as a narrative for evolving socio-economic conditions.
 
Three points Dalio makes are that he believes the closest parallel to today is 1937, the long-term debt cycle is in its 7th (of 8) innings and that expectations for future returns should be very low going forward. That begs the question what did the market do in 1937 and in the decade subsequently.
 
Incidentally, his Principles for Navigating Big Debt Cycles is available for free download here: https://www.principles.com/big-debt-crises/

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