Aside from bringing the world to a standstill, the 2020 pandemic brought on the largest fiscal stimulus program ever seen. Two of the largest central banks in the world — the U.S. Federal Reserve and the European Central Bank (ECB) — saw their balance sheets double in less than a year. The Federal Reserve increased…
With the 14th anniversary of the Great Financial Crisis of 2008 approaching, we are about to enter a new debt cycle that could reset the market. Navigating upcoming crises requires a deep understanding of how all previous debt crises worked and why they happened. Ray Dalio, the founder and chairman of Bridgewater Associates, was the…