How Countries Go Broke: The Big Cycle

Ray Dalio, founder of Bridgewater Associates, explains how government debt builds up over long cycles until countries can no longer pay it back. He argues the United States is approaching that point. Using 35 historical cases, Dalio describes the mechanics of the big debt cycle, from rising borrowing and central bank money printing to currency devaluation and restructuring. He offers measures to judge where a country stands and proposes a plan for reducing US deficits before a crisis.

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Tony Robbins: “My dear friend @RayDalio just released his new book, How Countries Go Broke: The Big Cycle, and I can’t recommend it highly enough. ... Get the book. Study it. Use it. The world needs this wisdom now more than ever.”