US Government Finances and the Debt Cycle

(0:00) Friedberg Introduces Ray Dalio

(1:29) 5 Forces That Will Decide America's Future

(7:26) Why Government Reform Is Nearly Impossible

(11:19) Gold vs. Bitcoin

(28:16) What Economists Got Wrong About Tariffs

(41:11) Is America Heading Towards Collapse?

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Ray Dalio joins the All-In Podcast for the third time to break down why America's debt crisis is worse than most people realize, and what comes next.

Dalio covers the five forces reshaping the global order, why DOGE faced structural limits, what's driving gold to all-time highs while Bitcoin stumbles, the real story behind tariffs and trade deficits, and why he believes the US might be approaching a collapse.

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