Why the U.S. Can’t Repay Its Debt, What Comes Next, and How to Prepare | Ray Dalio - PT 2

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Impact Theory

Education, News, News Commentary, Philosophy, Technology, Society & Culture, Business, Self-improvement

4.7 • 5.1K Ratings

🗓️ 6 November 2024

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today's insightful discussion, Tom sits down with renowned investor and author Ray Dalio to delve into pressing economic challenges and the changing world order. We'll explore Ray's unique perspectives on self-reliance, learning from mistakes, and the significance of "triangulation" in decision-making. Tom and Ray discuss how confronting the basics of survival and embracing simpler lifestyles can foster resilience amid economic turbulence. Ray Dalio emphasizes understanding historical patterns and recognizing financial cycles to navigate current and future crises, drawing parallels to past global events. They address the implications of the U.S. national debt, rising global tensions, and the role of education and financial literacy in preparing for economic downturns. In this episode, you will learn about the mechanics of money and debt, the impact of internal and external conflicts, and the benefits of radical transparency in personal and professional settings. There's also a deep dive into Ray's principles for successful decision-making and the importance of cultivating meaningful relationships and purposeful work. CHECK OUT OUR SPONSORS Range Rover: Explore the Range Rover Sport at https://landroverUSA.com Miro: Bring your teams to Miro’s revolutionary Innovation Workspace and be faster from idea to outcome at https://miro.com. ButcherBox: Get your choice of a free protein in every box for a year, plus that $20 off your first order with code IMPACT at https://butcherbox.com/impact. What's up, everybody? It's Tom Bilyeu here: If you want my help... STARTING a business: join me here at ZERO TO FOUNDER SCALING a business: see if you qualify here. Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here. If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu’s Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. Join me live on my Twitch stream. I'm live daily from 6:30 to 8:30 am PT at www.twitch.tv/tombilyeu LISTEN TO IMPACT THEORY AD FREE + BONUS EPISODES on APPLE PODCASTS: apple.co/impacttheory FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:44.3	conditions apply. I'm Tom Billu and this is Impact Theory. We're diving right back in to part two
0:49.9	with the legendary investor, Ray Dalio. When I read principles, it was really life-changing for me.
0:57.0	It was before you and I had ever done an interview because what I liked about the book is
1:01.6	exactly what you're talking about right now, this idea of a bipartisan cabinet.
1:04.9	So in my own company, I'm not looking for people to agree with me.
1:08.1	I'm looking for people that will challenge my ideas.
1:10.2	I'm looking for disconfirming evidence. I want to get the smartest people that I can possibly attract
1:14.7	to what we're doing and saying, okay, we need to disagree with each other well so that we can
1:21.1	identify the right answer. To your earlier point, you're going to be wrong so often that if you go
1:25.5	into something thinking I'm infallible, I'm going to have all the right answers, you're going to be wrong so often that if you go into something thinking I'm infallible,
1:33.9	I'm going to have all the right answers, you're just headed towards disaster. So my question is, how do we set up a situation where people can disagree well? What is that structure? I think it
1:43.2	starts with worry. I have a principle. If you worry, you don't have to worry.
	...

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