Debt cycles, bubbles and inequality.
For as long as I can remember there has been expanding global debt. Intuitively this is quite unsettling, but its difficult to articulate why. The most developed nations are the ones with the highest debt, so maybe it’s not such a bad thing. Yet while the global counter soars toward $250 trillion, there is increasing economic inequality, class conflict and talk of an ‘everything bubble.’ In reading Ray Dalio’s work on…
