Ray Dalio: Our System Is in Jeopardy - Debt, AI & the Cycle That Destroyed Rome
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Ray Dallio, welcome back to the All In podcast. Third time's the charm. Thanks for being here. It's always uh always a blast to be here. Thank you for having me.
The last conversation we had was so popular and it was so timely because it was just a few days actually after the inauguration of President Trump and you had provided some very kind of cresciant outlooks for the administration that I think we all thought would be very helpful to get on the record. At the time, you had highlighted and and as you have been for some time, this great debt cycle wherein the fiscal and monetary policy issues that are driving that debt cycle And provided some input that if we were able to cut our deficit to GDP to roughly 3%, we may have a shot at a smoother transition here. Today, the CBO estimates that the 2026 deficit
The GDP is about 6%. I'm going all in. If you were building a global financial system from first principles today, you wouldn't build it on 50-year-old legacy rails. You'd build air wallets. It's the single platform for global accounts, cards, and payments that treats the entire world like a local market.
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