Ray Dalio's excellent analysis and proposed solution of the current economic/societal quagmire
The Problem:
1. Excellent and spot on observation of what has happened in the last 70 years (the growth of debt).
2. Accurate observation that we are now in a deleveraging period (lasting 10 years, that means the deleveraging will finish in the year 2016!).
Solution:
a) Agree with Ray that first step to solution is to recognize that there is no political solution.
b) Excellent suggestion to increase taxes by 3% and cut expenses by 3%. Everyone can tighten their belt a little. If 3% will solve the problem then we should all be for it.
Ray Dalio for president!!!
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