According to the Economist: the most beautiful deleveraging yet seen" is how Ray Dalio describes what is now going on in America's economy. As America has gone through the necessary process of reducing its debt-to-income ratio since the financial crash of 2008, he reckons its policymakers have done well in mixing painful stuff like debt restructuring with injections of cash to keep demand growing.
Europe's deleveraging, by contrast, is "ugly".
Mr Dalio's views are taken seriously. He made a fortune betting before the crash that the world had taken on too much debt and would need to slash it….
Read more at http://www.businessinsider.com/how-ray-dalio-became-the-best-investor-in-the-world-2012-3
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