Interesting book

A ton of data, felt like more of a data dump. Also, they should have got someone to read the book that knows the industry…. Drove me nuts each time the reader said bps, instead of basis points… or Ray could have read his book…

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A systematic way to look at a systemic issue

This is a timely and insightful book especially given the current sky-rocketing inflation and the looming recession. The author's logical and systematic analysis of events, triggers, and root causes eloquently explain both the framework and the examples of major debt crises. This helps the readers understand what happened, predict what's likely to occur in the near future, and what actions can be taken to prevent, ease, and manage when such crises take place.

The language is straightforward, and all concepts are clearly explained. The author systematically categorizes seemingly unrelated events to uncover commonalities, dissect the relevant components, reveal the source of stress, and evaluate each tool's strengths and weaknesses.

I highly recommend Mr. Dalio's 2021 book "Principles for Dealing with the Changing World Order", which analyzes the rise and fall of dominant global economics. If you want something more fun and light-hearted, try "Money: The True Story of a Made-Up Thing" by Jacob Goldstein (2020) or "Work" a deep history from the stone age to the age of robots" by James Suzman (2021).

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Another Home Run!

Mr. Dalio has done it again! He hit this out of the ball park. His insights and wisdom shine through this audiobook. By studying the past, we can react to future events.

Disappointing dont buy

I have been following Ray Dalio for a while. I stopped listening to the audiobook the minute he said “Im not going to discuss Bridgewaters strategies for the scenarios Im discussing, these are property of Bridgewater”. So if you think there is going to be a solid discussion on what you can do to save your wealth from this books, nope, sorry you need to be a 1% if u want to have the key to preserving it. Dont give this 1%er another dime, and he is mega pro china too so take that as you want. Disappointed, will not purchasing or listening to this rich guy keeping secrets from the 99%.

Not useful as a tool.

This book doesn't give you the actual tools you'd need to implement the principles. Sure, it will tell you if indicators are going up or down, but doesn't answer the critical questions of 'how much' and 'when' that you'd need to make a bet on them. For example, the unwinding of foreign denominated debt is shown, over and over to cause much grief, but no effort is paid as to giving the user a tool to estimate the quantitative impact, and the timing. What indicator should I be looking at to see a foreign country is struggling? Where can I see how much debt a foreign nation has, and when that debt is due. I suspect Ray Dalio may himself not know how to quantitatively answer these questions anymore and may instead rely on a huge number of associates at Bridgewater to comb for data. The rest of us don't have access to this resource, making the actual principles of marginal value. On the upside, Ray's reading in the introduction was good. Too bad he didn't read me the rest of the book.

Great Financial Overview

Clear, succinct, and well written overall. The way Ray breaks down complex topics is masterful and I will be re-reading this again. 10/10 would recommend.

A lot of repetition

The third section of this book was unbearable. Very difficult to follow since the narrator just repeated the same thing 20 times.

Great read!

Clear and concise explanation of how debt cycles are what ultimately drive the business cycle, and how these cycles are heavily influenced by the actions of the central bank.

An economic world history lesson.

This book is very long, and well done. I think I would need to listen to it several more times to understand it.

No shortage of details here!

If you want to understand the economics of big debt crises, this is the book for you.