For decades, politicians, policymakers, and investors have debated these questions, but the answers have eluded them. In this groundbreaking book, Ray Dalio, one of the greatest investors of our time who anticipated the 2008 global financial crisis and the 2010–12 European debt crisis, shares for the first time his detailed explanation of what he calls the «Big Debt Cycle.» Understanding this cycle is critical for helping policymakers, investors, and the general public grasp where we are and where we are headed with the debt issue.
