Dalio Talks Debt Crises in New Book

In an interview with CNBC in September, Bridgewater Associates founder Ray Dalio discussed his new book, “A Template for Understanding Big Debt Crises,” in which he shares lessons learned from history’s financial downturns. Dalio’s book describes the six stages that lead to debt crises. Of these, he says, the most important is the “bubble stage” in which asset prices are rising and people are borrowing excessively. “Central banks don’t pay much attention to the bubble… Read More