Ray Dalio Discusses Major Financial Crises (Podcast)
Masters in Business
00:00
The Most Important Thing Isn't the Book.
The most important thing that I'm really trying to get at is the mechanics of the disease as described here. If we can just understand and agree on the mechanics of these things, we make a giant leap forward. A lot of the mechanics are not agreed to and they're not studied. They don't look at cases. For example, there was a lot of argument that printing money would bring back a high-fulfation. Showed a fundamental misunderstanding because when more money comes into the system, at the same time as credit is contracting,. The actual amount of purchasing power is not rising.
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