taylor: bridgewater's ray dalio is one of wall street's most outspoken figures.y to offer insight into the markets, politics, and policy. he spoke with bloomberg's erik schatzker this week at the aspen ideas festival. erik: risk in the financial system today, the risks to investors, people with capital are different than they were clearly in 2007-2008. what would you say are the principal risks? in order of importance. ray: ok. as far as the debt crisis, we calculated that we would have a debt rollover crisis. and we don't have that. but we have a situation in which the number of ious that we have, in terms of not only debt, but health care, pistons, and so on, are a lot. so, there are more ious than can be dealt with, and that is a problem. as we sell more bonds into the market, because we are and the process of a larger deficit, and running down the balance sheet, that is supply and demand. if i take three things, in terms of what i would say are the three most important issues of our time, what they will become other than how we deal with the next downturn, i

david: quite the institution they have built as ray dalio pulls back.ry, my favorite, tennis. roger federer, this is a big deal for retail because roger federer has left nike and has gone with uniqlo. >> uniqlo was more associated in the tennis world for a long time with novak djokovic who switched over to the cost. that left a gap and who better to fill it then roger federer? roger federer? well into roger federer's retirement. although watching him right now, he does not show any signs. david: if nadal he's winning tournaments, he just has to keep winning. -- keeps winning tournaments, he just have to keep winning. nike -- is another x ex-nike athlete closer to my world in marathon running. he also won the boston marathon along the way. david: roger federer has a new racket. he played with a wilson for years. he helped design this one himself. it just came into the club i play in. they were so excited about this. i pre-ordered one for my son. he won his first match with the new racket. many thanks to jason kelly. julia: coming up, the bond -- we will

dalio all rising as well. we are seeing some gains coming through. on the downside, penin.ereake sure any issues around it. space sectorffice is also trading lower. hsbc. european markets opening flat. asia declining. regional shares falling to the lowest in nine months. we continue to see pressure pushing through onto the chinese markets despite many things being in place they thought would have generated a rally. that didn't happen. people are talking about sentiment being as bad as it was back in 2015 when you take a look at how retail investors were feeling on shore in china. asian markets continue to slide. ibex casting a bit of a negative shadow. the trade story is what seems to be in many people's minds right now. figure outing to exactly what the reality of the trade story is going to be. have markets priced it about right? are investors overly worried about the trade story? where are we in the narrative? >> investors are definitely worried. if you take a step back and look at mobile flows, we are at 205 billion. well below where we were at this point in 2017. clear

bloomberg subscribers are reading about ray dalio.largest hedge fund firm at the end of 2017. over on tictoc, tesla taking a production break after exceeding model through production targets. a lot of speculators still think they can sustain that target. on bloomberg.com, the news everyone is reading. roger edwards blockbuster deal that will see him leave nike for uniclo. you can see that on the terminal. aboutan interesting story the switch. big booster when it comes to the overseas expansion for fast retailing, which does own uniqlo. we really have see the international operating income for uniqlo really leave the growth -- lead the growth we do see in the company as they deal with this aging population and slower sales in japan. this is a 10 year contract deal. he is 36 years old. i do not know how much longer he will stay in the game. of course, it will be great for the band overall. talk aboutyou international expansion, i am taking a look at the financial analysis function for fast retailing, the parent company of uniqlo, and mo

and check out facebook time for check please here and i'm watching what ray dalio has tweeted.f the war with china. he uses the word war, and he had written a linked in post really warning against a war with china saying that's going to lead to very bad outcomes for both countries when it comes to capital flows and investments. he considers himself as a china expert and so he is using the word war >> we talked about this during the commercial break earlier, but when we had andy rothman, he said we're not at a war -- it is curious to me that the market is up on this day when the war begins with china. >> i think it's already priced in, though >> just the initial round at least. >> it always comes down to how is it going to affect the bottom line if you're going to start a tried war now is the time to do it anyway when the economy is strong you don't want to do it when you're heading into recession. so i think that's the market is reflecting here. >>> i saw this this morning, catnip for golf fans out there we learned tiger woods and phil nicholson have been talking about putting