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Fun
Transcript
00:00In 2008, he sounded the alarm about the impending financial crisis, and now he's warning about something even more important.
00:06He's the author of the brand new book, How Countries Go Broke, The Big Cycle, and Bridgewater Associates founder Ray Dalio joins us now.
00:14Great, Ray, great to see you. Congratulations on the book.
00:17It really relates now, How Countries Go Broke, because everyone should be concerned about the deficit.
00:21That alarms you. Why?
00:23Well, there's a supply demand, you know.
00:25When there's a lot of debt, it has to be sold, and there is not enough buyers for that debt.
00:31And when that happens, bad things happen, like interest rates go up and the economy goes down.
00:37So you've got to get that down to about 3% of GDP, and now it's six and a half.
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