A few days ago my friend Jeremy sent me a link to a video by Ray Dalio, the 64-year-old founder of Bridgwater Associates, the larges hedge fund in the world. The video explains how the economy works in a half-hour lecture illustrated with cartoons. Today’s New York Times Business section had an article about the video, noting that 300,000 people (one of them me) had watched it.
The video explains economic cycles. It has been endorsed by former Treasury Secretary Henry Paulson, Jr. and former Fed chair Paul Volcker. It lasts about a half hour, but is well worth the time. While I certainly don’t know enough about economics to critique it, I thought it made a great deal of sense.
Here's the link: <http://www.youtube.com/watch?v=PHe0bXAIuk0>.
Interesting video. I think that there are a number of people in the two houses of congress who should see this video. They might learn something.
ReplyDeleteUsing their logic of defaulting the government is insane Too bad we will go through this again in January and February. Of course the primaries start in February, so anything could happen.
I thought it was a good explanation of economic cycles. I got a C in economics in college, but after seeing Dalio's video, I now think I have a better handle on how the system works.
ReplyDeleteThe next YouTube video you need to watch is the "Why Poverty" series. Just type "Why poverty series in Youtube". It is amazing to see how poverty works. One quote from the series was "In today's modern economy, you are playing the game of monopoly but all the properties are bought up and all the money is in other people's hands".
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