Ray Dalio on the great growth sag

A nice video here from Ray Dalio covering many MB themes around the great global growth sag:

Houses and Holes

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the fouding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.

He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.

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  1. Scary stuff.

    Massive wealth inequality/political polarity/monetary exhaustion = 1930s

    We’re already seeing the early signs of things to come.

    He keeps warning and they keep ignoring. Even the title, “the great sag,” as though that was benign or even the most important thing he had to say. If the real economy is going into a prolonged malaise it will (is!) lead to populist politics. Populist politicians lead to inflation, which is the slayer of financial assets. Either way, as Dalio says, we’ve already experienced the peak of the previous regime.

    • Jumping jack flash


      The only solution to the great depression was immense public investment into inherently productive activities. Mortgages and rising property prices are not productive. Not even infrastructure spending is productive, even though these all look really, really similar. There is a fundamental difference.

      Anything else is useless and only adds to the problem.

      But our government is useless, inept and insipid. It will take a global crisis for them to even wake up.

  2. SnappedUpSavvyMEMBER

    previously he’s said back chyna, yet he says the 1930’s will be replayed, in which case chyna will get smashed