A Template for Understanding Big Debt Crises
This article is a part of my Best Reads of the Month section on my website www.mikegorlon.com. Each month I pick one or two articles or blog posts that I find on the internet which I thought were really insightful, interesting or moving. Then I share them with you. You can view the previous month’s articles by going to: https://www.mikegorlon.com/best-reads-of-the-month
September 2018: A Template for Understanding Big Debt Crises
I’ve written about Ray Dalio before and I’ve recommended other pieces of writing by him and I am doing it again for my September best read of the month. Ray has been one of the most successful hedge fund managers by building the largest hedge fund in the world. He wrote the best-selling book Principles and he just released this new book on understanding how big debt crises occur and what steps governments can take to alleviate them. And the best part about it is that it’s free.
Ray has spent an enormous amount of time studying previous debt crises in history and has noticed patterns which have a habit of repeating themselves. That is part of what Ray discusses in this book. The patterns that he sees from studying the past and how governments react. There are two types of big debt crises: deflationary and inflationary. He delves deeply in to the different stages and what governments usually do to prevent their country’s crises from getting worse. He also discusses in detail some of the previous debt crises in history such as The Great Depression and the 08 US Housing Crisis. I’ve starting reading it and it is a challenging book but I highly recommend it.
And even if you don’t plan on reading it now, remember what I said earlier. It’s free! Just click the link above, enter your email, go to your email inbox and download it.
