Our next guest founded the world's biggest hedge fund from his apartment in New York City.

That's where it all began. In 2008, he sounded the alarm about the impending financial crisis,

and now he's warning about something even more important. He's author of the brand new book,

How Countries Go Broke, The Big Cycle and Bridgewater Associates founder, Ray Dalio, joins us now.

Ray, great to see. Congratulations on the book.

Thank you.

It really relates now how countries go broke because everyone should be concerned about the

deficit.

That alarms you.

Why?

Well, there's a supply demand, you know.

A lot of people have a lot of bonds.

One man's debts or another man's assets.

And they have to get a good return and when they there's a lot

of debt it has to be sold and there is not enough buyers for that debt and when that happens

things bad things happen like interest rates go up and the economy goes down so it's a you got to get

that down to about 3% of GDP and now it it now? Six and about six and a half.

So right now we have about $36 trillion in debt, and that is your focus.

Is that your biggest worry now?

Yes, that's supply demand.

I line up the buyers and I look at the sellers.

Yeah, I worry about that.

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