| Economic bubbles throughout history tend to follow similar patterns, but they are never exactly the same. In 1929 and 2008, there was a lot of debt — but most of it was owned by the private sector. Today, the government sector has a lot of the debt. Still, one man’s debts are another man’s assets. And when the bill comes due and the debt assets aren’t as appealing as the alternatives, some sort of monetization is inevitable. I recently sat down with CNBC's Andrew Ross Sorkin to discuss this in the context of his latest book, 1929: Inside the Greatest Crash in Wall Street History — and How It Shattered a Nation. The parallels between that era and now are striking. You can watch the full conversation here: |
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Ray Dalio and Bloomberg’s Francine Lacqua Discuss Life, Debt & Global Crisis
2025-10-29
The U.S.’s debts are on the edge of becoming unmanageable to the point where it could default if conditions are not changed.
But this problem isn’t a unique one. It has happened many times in history, which is why I believe studying the past is so important. The same cycles repeat over and over again, and there are important lessons we can learn from those experiences.
I recently met with Bloomberg @markets ahead of the UN Ocean Conference to discuss our debts, the possibility of global crisis, and the importance of investing in our oceans.
If you’re interested in learning more about our collective debt burden — and what steps we can take to solve these issues — I explain my thinking in my new book, How Countries Go Broke: The Big Cycle.
I hope you will read it and let me know your
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