Ray Dalio: "AI Is Eating Everything - and It Might Eat Itself"

Ray Dalio returns to the podcast to discuss the U.S.'s current financial state, marked by a substantial debt cycle and a deficit-to-GDP ratio projected at 6% for 2026. Dalio outlines five intertwined forces shaping the economy: debt and money, wealth and values gaps, great power conflicts, technology, and acts of nature. He suggests that the U.S. government, like a company, faces challenges with spending exceeding income, leading to a large debt and interest payment issues. Dalio also highlights gold as a safe asset amid economic uncertainties, noting central banks' increasing acquisition of gold. He warns about potential wealth taxes driving wealth to cash and emphasizes the importance of balancing financial prudence with innovative inventions.