Book Notes · Markets & money
Principles for Navigating Big Debt Crises
Ray Dalio's template for debt cycles: deflationary versus inflationary deleveragings, the four levers policymakers pull, and the 'beautiful deleveraging' mix, illustrated by 1929–32, 2008 and Weimar.
Step 1 of 5 · Overview25 min read ·
Key idea
Prereqs: How the economic machine works; Crashed (2008). Next: The Changing World Order. Book: Ray Dalio, *A Template for Understanding Big Debt Crises* (Bridgewater, 2018; free PDF).Next: 1. The long-term debt cycle