How Countries Go Broke by Ray Dalio | audiobook summary | The Big Cycle

Описание: 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.

The current world order, which began in 1945, is in "Stage 5" of its life cycle—about 90 to 95 percent of the way through. This is the stage right before, in his words, "great conflicts and seismic shifts." He argues that the current mix of massive debt, internal political division, and international tension is most similar to the 1930s. He also says we're at a moment of "maximum uncertainty".

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00:00 Introduction
02:51 Overview of the Big Debt Cycle
21:09 The Archetypical Sequence Leading to Central Governments and Central Banks Going Broke
50:41 Looking Back
01:39:31 Looking Ahead
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