{"id":10317,"date":"2014-07-15T22:32:38","date_gmt":"2014-07-16T02:32:38","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=10317"},"modified":"2021-03-22T22:53:02","modified_gmt":"2021-03-22T22:53:02","slug":"ray-dalio-the-economic-machine-and-beautiful-deleveraging","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/15\/ray-dalio-the-economic-machine-and-beautiful-deleveraging\/","title":{"rendered":"Ray Dalio: The Economic Machine and Beautiful Deleveraging"},"content":{"rendered":"<p>Ray Dalio, founder of Bridgewater Associates, released a 30 minute video in 2013, explaining his template of the economy and how central banks and government should manage a deleveraging like the Great Recession and its after-effects.<\/p>\n<p><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" class=\"youtube-player\" width=\"525\" height=\"296\" src=\"https:\/\/www.youtube.com\/embed\/PHe0bXAIuk0?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-US&#038;autohide=2&#038;wmode=transparent\" allowfullscreen=\"true\" style=\"border:0;\" sandbox=\"allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox\"><\/iframe><\/span><\/p>\n<p>Ray proposes three simple rules to avoid future crises:<\/p>\n<ol>\n<li>Don&#8217;t let debt grow faster than income (GDP) otherwise it will eventually crush you;<\/li>\n<li>Don&#8217;t let income grow faster than productivity otherwise you will become uncompetitive in international markets; and<\/li>\n<li>Do all that you can to raise productivity because in the long run that&#8217;s what matters most.<\/li>\n<\/ol>\n<h2>What is productivity and how do we measure it?<\/h2>\n<p>Productivity is the result of hard work and innovation, both of these factors will increase the level of output (GDP) per unit of input.<\/p>\n<p>We measure productivity by comparing GDP to units of input, either:<\/p>\n<ul>\n<li>the population of a country;<\/li>\n<li>the number of hours worked; or<\/li>\n<li>the number of people employed.<\/li>\n<\/ul>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-12-gdp-capita.png?w=525&#038;ssl=1\" alt=\"Index\" \/><\/p>\n<p>Each will give a different perspective, but there are a few general rules:<\/p>\n<ul>\n<li>countries with high technology and innovation (e.g. Germany or USA) show high productivity;<\/li>\n<li>as do resource-rich countries with big extraction industries (like Norway and Australia); and<\/li>\n<li>countries with low tax regimes (Singapore and Ireland) which attract transient income.<\/li>\n<\/ul>\n<p>Read more at <a title=\"Labor productivity can be misleading\" href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/14\/labor-productivity-can-be-misleading\/\">Labor productivity can be misleading<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ray Dalio, founder of Bridgewater Associates, released a 30 minute video in 2013, explaining his template of the economy and how central banks and government should manage a deleveraging like the Great Recession and its after-effects. Ray proposes three simple rules to avoid future crises: Don&#8217;t let debt grow faster than income (GDP) otherwise it &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/15\/ray-dalio-the-economic-machine-and-beautiful-deleveraging\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ray Dalio: The Economic Machine and Beautiful Deleveraging&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,45,13,34],"tags":[967,993,1333,1843,2158,2784],"class_list":["post-10317","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-debt-levels","category-inflation-economy","category-us-canada-countries-regions","tag-debt-levels-2","tag-deleveraging","tag-extraction-industry","tag-innovation","tag-low-tax-regimes","tag-productivity"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ray Dalio: The Economic Machine and Beautiful Deleveraging - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ray Dalio: The Economic Machine and Beautiful Deleveraging - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Ray Dalio, founder of Bridgewater Associates, released a 30 minute video in 2013, explaining his template of the economy and how central banks and government should manage a deleveraging like the Great Recession and its after-effects. Ray proposes three simple rules to avoid future crises: Don&#8217;t let debt grow faster than income (GDP) otherwise it &hellip; Continue reading &quot;Ray Dalio: The Economic Machine and Beautiful Deleveraging&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/15\/ray-dalio-the-economic-machine-and-beautiful-deleveraging\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2014-07-16T02:32:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-03-22T22:53:02+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2012\/2012-12-gdp-capita.png\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/15\/ray-dalio-the-economic-machine-and-beautiful-deleveraging\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/15\/ray-dalio-the-economic-machine-and-beautiful-deleveraging\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Ray Dalio: The Economic Machine and Beautiful Deleveraging\",\"datePublished\":\"2014-07-16T02:32:38+00:00\",\"dateModified\":\"2021-03-22T22:53:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/15\/ray-dalio-the-economic-machine-and-beautiful-deleveraging\/\"},\"wordCount\":223,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/15\/ray-dalio-the-economic-machine-and-beautiful-deleveraging\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2012\/2012-12-gdp-capita.png\",\"keywords\":[\"debt levels\",\"deleveraging\",\"extraction industry\",\"innovation\",\"low tax regimes\",\"Productivity\"],\"articleSection\":[\"Banks &amp; 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[gigya name=\"cnbcplayer\" PLUGINSPAGE=\"http:\/\/www.macromedia.com\/go\/getflashplayer\" allowfullscreen=\"true\" allowscriptaccess=\"always\" bgcolor=\"#000000\" height=\"380\" width=\"400\" quality=\"best\" wmode=\"transparent\" scale=\"noscale\" salign=\"lt\" src=\"http:\/\/plus.cnbc.com\/rssvideosearch\/action\/player\/id\/3000117516\/code\/cnbcplayershare\" type=\"application\/x-shockwave-flash\"] Also PIMCO's Mohammed El-Erian on\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27803,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/09\/09\/low-interest-rates-and-the-debt-trap\/","url_meta":{"origin":10317,"position":2},"title":"Low interest rates and the debt trap","author":"Colin Twiggs","date":"September 9, 2021","format":false,"excerpt":"Since 1980, debt levels have more than doubled, from 1.4 times GDP to more than 2.8 in Q1 this year. The rise has been facilitated (and encouraged) by a sharp fall in long-term interest rates, with 10-year Treasury yields falling from a peak of close to 16% in September 1981\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5439,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/12\/conversation-with-bridgewater-associates-ray-dalio-credit-writedowns\/","url_meta":{"origin":10317,"position":3},"title":"Conversation with Bridgewater Associates&#039; Ray Dalio &#124; Credit Writedowns","author":"Colin Twiggs","date":"September 12, 2012","format":false,"excerpt":"The video below is an in-depth full hour-long segment and well worth watching. Notice that Dalio sees the credit accelerator as a key component adding to aggregate demand and the key component that creates instability in that demand. Unlike traditional econometric models that do not use the debt and credit\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/SFaRazMpxcM\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":45254,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/11\/08\/long-term-outlook-how-does-it-all-end\/","url_meta":{"origin":10317,"position":4},"title":"Long-term outlook: How does it all end?","author":"Colin Twiggs","date":"November 8, 2023","format":false,"excerpt":"What economic path are the US and major allies likely to take over the next decade? Here is my take on how this is likely to pan out. First, let's start with a template of what a healthy, growing economy looks like. A Virtuous Cycle Growth is dependent on two\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"Private Investment\/GDP & Real GDP\/Total Non-farm Payroll","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-11-14-gpdi-gdp.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-11-14-gpdi-gdp.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-11-14-gpdi-gdp.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":6377,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/05\/how-cancelling-central-banks-holdings-of-government-debt-could-be-a-useful-thing-ft-alphaville\/","url_meta":{"origin":10317,"position":5},"title":"How cancelling central banks\u2019 holdings of government debt could be a useful thing &#124; FT Alphaville","author":"Colin Twiggs","date":"December 5, 2012","format":false,"excerpt":"FT's Kate Mackenzie writes: Morgan Stanley cross-asset strategist Gerard Minack says the remarkable thing about developed economy deleveraging is how little of it has happened: The credit super-cycle ended four years ago, but leverage has hardly fallen in major economies: debt-to-GDP ratios remain historically high. Minack says the problem is\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/10317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=10317"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/10317\/revisions"}],"predecessor-version":[{"id":24680,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/10317\/revisions\/24680"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=10317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=10317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=10317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}