Ray Dalio on His Biggest Failure
Principles by Ray Dalioยท2025-10-23 15:51
So in 1979 and 80 I had calculated that American banks uh lent more to countries and they were going to be able to pay back at that interest rate and so on. And I realized uh we're going to have a debt default. Then I was interviewed I went to Congress.Um they asked me about all all of this and in August 1972 Mexico defaults on its debt. And then through the next 10 years, many other countries defaulted on their debt. And I thought at the time uh we were going to have a crisis, a debt crisis.And I couldn't ...