Follow John Mauldin as he uncovers the truth behind, and beyond, the financial headlines. This in-depth weekly dispatch helps you understand what's happening in the economy and navigate the markets with confidence.
Today we continue reviewing Ray Dalio’s latest book, How Countries Go Broke. If, like me, you fear that you may soon live in such a country, Ray’s work reads like a guidebook to the future. But in fact, this future is just the latest iteration of a well-known debt cycle, one that is almost natural in its regularity.
Read moreDebt is a curse that can also be a blessing, depending on how the borrower uses it. Sadly, human nature seemingly ensures we often use debt unproductively—and not just as individuals. Governments have their own special way of using debt to buy benefits (and votes?) today that future generations will pay for.
Read morePhysicists have a concept called “entropy,” which basically says systems will tend to move from orderly to disorderly over time. Entropy is central to physics, thermodynamics, and other fields of physical science.
Read moreMonetary policy is a balancing act. The Federal Reserve’s “dual mandate” requires it to promote both maximum employment and stable prices. Statutorily, neither is more important than the other. The Fed is supposed to seek both at the same time.
Read moreThoughts from the Frontline explores developments overlooked by mainstream news and analyzes challenges and opportunities on the horizon.
The newsletter began as John’s way of sharing his thoughts with a few associates. Two decades later, it is one of the most widely read investment newsletters in the world. From his warning of an impending recession in 2000, to a polemic on the Obamacare “death spiral” in 2016, John has blazed his own trail as one of the most respected macroeconomic minds in the field.
"Central bankers, businessmen, and investors continually try to beat History to a pulp, but History always wins the final rounds."
When investors, financial professionals, and discerning citizens need a big-picture view of what's going on in the economy, they turn to John Mauldin.
And for good reason. John has dedicated more than 30 years to keeping people informed about financial risk.
The Debt Supercycle theory traces the increasing transfer of private debt to government balance sheets, highlighting its implications, the unique constraints of government debt management, and potential future scenarios—including the limits of government borrowing, the role of bond vigilantes, and the risk of a major fiscal crisis if current trends continue.
Get this free report delivered to your inbox when you fill out the form below.
