How Countries Go Broke: The Big Cycle

Most countries experience debt crises and go broke for the same reasons. But because the mechanics at play occur so infrequently, most people don't recognize what's happening in real-time.

Ray Dalio, legendary investor who anticipated the 2008 global financial crisis and 2011 European debt crisis, has now described these mechanics in his new book, How Countries Go Broke: The Big Cycle — and he worries the US may be next.