Ray Dalio bets against bonds and warns of a looming US debt crisis

Dalio argues that both sovereign borrowers and technology firms are flooding the market with debt, prompting him to take short positions in bonds. He has long cautioned about rising public debt and now sees a potential US debt crisis as a realistic scenario in the next few years. The surge in artificial-intelligence investment, he adds, shows classic bubble characteristics that could exacerbate financial instability.