An urgent message about the American economy from Ray Dalio, the #1 New York Times bestselling author of "Principles." Are large government debts threatening our collective prosperity? Are there limits to debt growth? Can a major, important country that has the world’s reserve currency, like the United States, actually go bankrupt—and what would that look like? For decades, politicians, policymakers, and investors have debated these questions, but the answers have remained elusive. In this groundbreaking book, Ray Dalio, one of the greatest investors of our time who foresaw the 2008 global financial crisis and the 2010–12 European debt crisis, shares for the first time his detailed explanation of the so-called 'Big Debt Cycle.'

Understanding this cycle is crucial for helping policymakers, investors, and the general public grasp where we are and where we are heading regarding debt. Dalio’s model reveals surprisingly simple solutions for addressing the debt problems currently facing the US, Europe, Japan, and China. "How Countries Go Broke" also shows how these debt issues are connected to other forces—domestic politics, geopolitics between countries, natural forces (droughts, floods, and pandemics), and technological forces (most importantly, Artificial Intelligence)—which together cause what Dalio calls 'Total Big Cycles' of change in the world order. By reading this book, you will improve your understanding of what is happening now and what to do about it.

Pages: 400, Year of Publication: 0603, Dimensions: 15.3x15.3cm