Ray Dalio’s book on the changing World Order has been universally praised since its publication. I fear that may be because nobody has read it.
So far it seems like my “drama” videos have been more successful when they go after folks who are native to the app rather than establishment figures. Ray Dalio happens to be both. He’s one of the most successful Hedge fund investors of all time, and he racks up tens of millions of YouTube views. Here’s hoping this video is successful. Reading his book was a bit of a chore.
Today’s video is an attempt to bridge a gap I see in a lot of economic discussion on twitter, in academia and in mainstream journalism. There seems to be a growing sense that the US economic consensus is changing in a bigger way that it has for four decades. The old Reaganite consensus seems to be falling apart. Some deplore this shift, but many more seem to love it. What neither the pro- or anti-camp seems to be doing in a serious way is reckoning with how cryptocurrency fits into this picture. This is a major oversight. How can we talk about the economy, money and finance without discussing a growing insurgency against all of those things? Today’s video attempts to put the two pictures together, and point out that Crypto ideology is very much on one side of this broader economic debate.
I’ve been bothered by Cryptocurrency for quite some time. I started following it seriously again after the 2017 peak and crash. I’ve always been leery of talking about it because I so fundamentally did not get why it continued to be a thing. After researching it at great length in recent months, I’ve come to the conclusion that it’s the world that’s crazy, not me. If cryptocurrency continues on its current trajectory, it’s got a lot of terrifying implications. I begin to unpack those in this video, which is intended to be the first of three.