This interview podcast features Jason Calacanis interviewing Ray Dalio about his new book, "How Countries Go Broke." The discussion centers on Dalio's "Big Debt Cycle" theory, explaining the mechanics of how countries accumulate debt, leading to potential crises. Dalio uses the analogy of a circulatory system to illustrate how excessive debt acts like plaque in arteries, eventually causing economic "heart attacks." He highlights the US's high debt-to-GDP ratio and the risk of a debt crisis, suggesting a "3% solution" involving deficit reduction through spending cuts and tax increases. The conversation also touches on alternative asset classes like gold and Bitcoin as potential stores of value during economic uncertainty, and the geopolitical implications of the US-China technological rivalry.
