#1 NEW YORK TIMES BESTSELLER “Advance copies of Ray Dalio’s new book about how countries go
broke have become a hot read in Washington.” — The New York Times “This book is a gift to
humanity….Ray provides a solution to what is the biggest and most certain threat to our
prosperity.” —Henry M. Paulson Jr. “An invaluable resource for policymakers investors and
citizens.” —Lawrence H. Summers An urgent warning about the American economy from Ray Dalio
the #1 New York Times bestselling author of Principles . Do big government debts threaten
our collective well-being? Are there limits to debt growth? Can a big important reserve
currency country like the United States really go broke—and what would that look like? 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. Dalio’s model points
toward surprisingly straightforward solutions for dealing with the debt problems that the US
Europe Japan and China face today. How Countries Go Broke also shows how these debt
problems are related to the other forces—political within countries geopolitical between
countries natural (droughts floods and pandemics) and technological (most importantly
AI)—that together are causing what Dalio calls the “Overall Big Cycle” changes in the world
order. By reading this book you will improve your understanding of what’s happening now and
what to do about it.
