The Summary

I recently watched Ray Dalio’s video entitled How The Economic Machine Works by Ray Dalio.

Here is the key point:

• Credit causes short-term and long term debt cycle

Here are the 3 important lessons:

1. Don’t borrow more than your income
2. Don’t earn more than your productivity; otherwise, you might become uncompetitive
3. Focus on being more productive as it is what matters in the long run

I highly recommend the above video not only to people working in the finance industry, but also to everyone. I really mean, everyone..

For those who don’t know Ray Dalio, he is the legendary fund manager and founder of Bridgewater Associates.

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