Ray Dalio: ‘We should be afraid of the bond market’

New York CNN —

The US is at a low risk of an imminent debt crisis — but high risk in the long term, billionaire investor Ray Dalio writes in a new book.

The US government debt situation is “nearing the point of no return” and approaching a “death spiral” that could threaten the stability of the world’s largest economy, he writes in the book, “How Countries Go Broke: The Big Cycle,” published Tuesday.

Some economists and investors have been sounding the alarm about the deficit for years. But this year, Wall Street has begun to heed caution as President Donald Trump’s tariffs and tax bill agenda have stoked volatility in the bond market , which is the usually quiet bedrock of the US and global economies.

Investors are increasingly concerned about the potential for Trump’s “big, b