Credit is a promise to deliver money. It will produce GDP but you'll create credit... So you reach a certain point that that you can't do that anymore... There are choices. And how do we best support, apportion the money? How much is going to be transferred?
Ray DalioI believe there are an infinite number of laws of the universe and that all progress or dreams achieved come from operating in a way that's consistent with them. These laws and the principles of how to operate in harmony with them have always existed. We were given these laws by nature. Man didn't and can't make them up. He can only hope to understand them and use them to get what he wants.
Ray DalioI'm sure Donald Trump will think that he has the truth, and some journalist is arguing that he has truth, and somebody else is arguing that they have the truth. And in fact it's even worse than that because they're so hell bent on their arguments that they will distort the truth consciously. They'll manipulate the facts to support their arguments because they're so hung up in the fight. That's where the problem is, so we argue all the time.
Ray DalioSuccess is not in obtaining the thing. Because there's always another thing. And then you look back on it, and for me, through my evolution, yes I have success by most measures - but for me, when it comes to the greatest joy of reward, there's an emotional element and there's an intellectual element. Emotionally, my greatest joy was the personal relationships I've had. That was the greatest joy. Intellectually, my satisfaction was that I do feel I've evolved well and I'm doing my best to contribute toward evolution.
Ray DalioI have been very lucky because I have had the opportunity to see what it's like to have little or no money and what it's like to have a lot of it. I'm lucky because people make such a big deal of it and, if I didn't experience both, I wouldn't be able to know how important it really is for me. I can't comment on what having a lot of money means to others, but I do know that for me, having a lot more money isn't a lot better than having enough to cover the basics.
Ray Dalio