Ray Dalio on the Coming Crisis in US Debt

This Odd Lots podcast episode features an interview with Ray Dalio, founder of Bridgewater Associates, discussing his new book, "How Countries Go Broke." The conversation centers on the mechanics of large debt cycles, using historical examples and economic models to illustrate how debt crises develop and the potential for a future crisis in the US. Dalio emphasizes the importance of reducing the US budget deficit to 3% of GDP to avoid a crisis, suggesting this is achievable despite political disagreements. He also discusses alternative stores of value, such as gold and Bitcoin, in the context of potential currency devaluation. The interview concludes with a discussion of potential policy responses and the need for proactive measures to mitigate future economic risks.