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Ray Dalio on the upcoming 2020 election

Bridgewater Associates Founder Ray Dalio talks with Yahoo Finance reporter Julia La Roche about the upcoming 2020 presidential election.

Video Transcript

RAY DALIO: The most important thing of the United States is to do the fundamental things right-- we'll talk about that in a second-- and also to come together. I'm most concerned about one side trying to beat the other side and doing damage because history has shown that when you get those gaps, those wealth gaps and the values gaps and anger, you do get demonstrations, you do get violence. And you can move to the point that the respect for the system is not good.

I have a principle which is, when the causes that people are behind are more important to them than the system, the system is in jeopardy. So bringing it together and making sure that we can do that I think is of paramount importance. Then what are the fundamentals? The fundamentals-- there's so many important fundamentals. But let me go through the important ones.

Are you going to earn more than you spend so that you're going to build-- we as a country. Are we going to earn more than we spend so that we build our balance sheets? That's important. For every individual, for every company, for every organization, and for every government, you can judge the health-- the financial health by those things.

Then you have to go to the fundamentals that produce those things. And they start with educating your children well, broad based-- I think broad-based, good public education, and civility. When I say education, I don't just mean that you know how to read and write and all of those things. That's very important, of course, but also to behave civilly with each other because societies that row in the same direction with a common mission, like an American dream, work better.

And so I believe it starts with education and the basics, basically. I was lucky to have-- I went to a public school. I had parents who cared for me, loved me, and taught me some values. And so much, those things are the most important. Fundamentals save more than, you know, those things. If we can do that, that will be the most important thing. Because wherever we are, in relation to China or any place, is going to be dependent on how we are with ourselves to do those fundamental things correctly.