Ray Dalio | The All-In Interview

<p>(0:00) Ray Dalio joins Friedberg!</p> <p>(0:50) The current US fiscal situation</p> <p>(6:23) Breaking down "The Big Debt Cycle," a potential US debt spiral, and the impact on real wealth</p> <p>(24:54) USD vs other currencies and assets, best hedges against the dollar</p> <p>(33:20) Portfolio construction, how China increases risk for US AI companies, why this market reminds Ray of 1998-1999</p> <p>(41:45) How the US can avoid a debt crisis</p> <p>(53:29) DOGE, Trump, and AI's greatest risk</p> <p>(1:05:31) Chances of conflict between the US and China</p> <p>Follow the Besties:</p> <p><a href="https://x.com/chamath">https://x.com/chamath</a></p> <p><a href="https://x.com/Jason">https://x.com/Jason</a></p> <p><a href="https://x.com/DavidSacks">https://x.com/DavidSacks</a></p> <p><a href="https://x.com/friedberg">https://x.com/friedberg</a></p> <p>Follow Ray Dalio:</p> <p><a href="https://x.com/RayDalio">https://x.com/RayDalio</a></p> <p>Read Part 1 of "How Countries Go Broke":</p> <p><a href="https://x.com/RayDalio/status/1878840018770210979">https://x.com/RayDalio/status/1878840018770210979</a></p> <p>Pre-order "How Countries Go Broke":</p> <p><a href="https://www.amazon.com/Principles-Investment-Economic-Ray-Dalio/dp/1501124064"> https://www.amazon.com/Principles-Investment-Economic-Ray-Dalio/dp/1501124064</a></p> <p>Follow on X:</p> <p><a href="https://x.com/theallinpod">https://x.com/theallinpod</a></p> <p>Follow on Instagram:</p> <p><a href="https://www.instagram.com/theallinpod">https://www.instagram.com/theallinpod</a></p> <p>Follow on TikTok:</p> <p><a href="https://www.tiktok.com/@theallinpod">https://www.tiktok.com/@theallinpod</a></p> <p>Follow on LinkedIn:</p> <p><a href="https://www.linkedin.com/company/allinpod">https://www.linkedin.com/company/allinpod</a></p> <p>Intro Music Credit:</p> <p><a href="https://rb.gy/tppkzl">https://rb.gy/tppkzl</a></p> <p><a href="https://x.com/yung_spielburg">https://x.com/yung_spielburg</a></p> <p>Intro Video Credit:</p> <p><a href="https://x.com/TheZachEffect">https://x.com/TheZachEffect</a></p> <p>Referenced in the show:</p> <p><a href="https://tradingeconomics.com/united-states/government-debt-to-gdp"> https://tradingeconomics.com/united-states/government-debt-to-gdp</a></p> <p><a href="https://www.crfb.org/press-releases/treasury-confirms-calendar-year-2024-deficit-tops-20-trillion"> https://www.crfb.org/press-releases/treasury-confirms-calendar-year-2024-deficit-tops-20-trillion</a></p> <p><a href="https://www.cbo.gov/publication/61172">https://www.cbo.gov/publication/61172</a></p> <p><a href="https://www.institutionalinvestor.com/article/2bstne1l09npgdk1s5yww/corner-office/ray-dalio-makes-his-exit-from-bridgewater"> https://www.institutionalinvestor.com/article/2bstne1l09npgdk1s5yww/corner-office/ray-dalio-makes-his-exit-from-bridgewater</a></p> <p><a href="https://fred.stlouisfed.org/series/M2SL">https://fred.stlouisfed.org/series/M2SL</a></p> <p><a href="https://www.jpmorgan.com/insights/outlook/economic-outlook/fed-meeting-september-2024"> https://www.jpmorgan.com/insights/outlook/economic-outlook/fed-meeting-september-2024</a></p> <p><a href="https://www.forbes.com/sites/robertfarrington/2024/11/08/fed-cut-interest-rates-so-why-do-mortgage-rates-keep-climbing"> https://www.forbes.com/sites/robertfarrington/2024/11/08/fed-cut-interest-rates-so-why-do-mortgage-rates-keep-climbing</a></p> <p><a href="https://www.chathamfinancial.com/insights/fomc-recap-december-2024"> https://www.chathamfinancial.com/insights/fomc-recap-december-2024</a></p> <p><a href="https://www.cnbc.com/2025/01/14/a-global-bond-sell-off-is-deepening-as-hopes-for-multiple-fed-rate-cuts-fizzle.html"> https://www.cnbc.com/2025/01/14/a-global-bond-sell-off-is-deepening-as-hopes-for-multiple-fed-rate-cuts-fizzle.html</a></p>