News Summary

• Ray Dalio says the US is careening toward a debt crisis before the end of this decade.
• He anticipates a crisis "within the next three years," or by the fall of 2029.
• US debt breached the $40 trillion mark in August, representing an inflation-adjusted increase of more than $10 trillion, or over 33%, since 2019.
• Dalio has described rising debt as an "aggressive cancer," and said it "accumulates like plaque" on a financial system.