Principles for Navigating Big Debt Crises

Ray Dalio presents a framework for understanding major debt crises, combining principles for analyzing credit cycles with detailed historical case studies. The book examines the German debt crisis and hyperinflation of 1918 to 1924, the United States debt crisis of 1928 to 1937, and the global financial crisis of 2007 to 2011. It explains how debt burdens, deleveraging, policy choices, and economic adjustments can shape the course of a crisis.

by Ray Dalio

Principles · First published 2018 · 472 pages