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00:00Ray Dalio, he's got a new book, and it's called How Countries Go Broke.
00:06People don't know the mechanics, and government officials don't know the mechanics.
00:11And so this went back for 35 countries.
00:15What is the mechanics? What is too much debt?
00:18How does it work? How does it end?
00:20So I wanted to convey that because it's the most important political issue that's going to be in front of us.
00:25Let's break it down because it is very true.
00:27We are going to have taxes on the table this year in the United States, and we are going to have deficits on the table, and they're interconnected.
00:34How the deficits get dealt with is the fundamental question.
00:37You've been studying this stuff for a very, very long time.
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