And so there are some structural things that can be done to make it work that way.
But at the end of the day, it’s got to work for most people. I believe in the power of putting capital in the hands of bright people who come up with new ideas. There are many areas in which there’s a return on investment, that is good for the vast majority of population. Education for example– spending money on educating the population while making them work well, and so on. So you don’t have a risk of default at the end of the day if they want to print the money, but you have a risk of inflation, as printing a lot of money devalues money.īrancaccio: You know, you’re not a dove on debt, you worry about too much debt, yet, you raise the issue of the gap between rich and poor in America, see it as destabilizing and think we got to deal with it.ĭalio: That’s right. Ray Dalio: The one big difference is the government can print money. They also discussed how more spending on education is a good return on investment.īelow is an edited transcript of their conversation.ĭavid Brancaccio: Quick tutorial - government finances are like our household budgets, right? You use income, what you earn and borrowing to pay expenses, pay back loans. “Marketplace Morning Report’s” David Brancaccio recently spoke with Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, about the wider issues dredged up by the debt fight. Now that the latest debt ceiling deal has been signed into law, the “Marketplace Morning Report” decided to take a wider-angle view on the debate given that it’s almost certainly not the last time the nation will see a fight over how to extend the federal government’s debt limit.
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