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Ray Dalio sounded like a doctor delivering bad news. The damage had been building for years, and by the time he described what could happen next, he was using two words nobody wants to hear.
“We are very exposed to a heart attack,” he said (1) in a recent interview with “Money Rehab.”
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But the patient he had in mind wasn’t just one person. It was the entirety of America.
The billionaire founder of Bridgewater Associates compared the financial system to the body’s circulatory system. And he had a grim way of describing what happens when you let the debt pile up.
“It’s like plaque,” he said. Over time, the payments squeeze out money that could have gone toward everything else.
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