"Dalio said history is shaped by five major forces:
monetary cycles like credit and debt;
internal political conflict;
shifting global power dynamics;
technological change;
and natural disasters such as pandemics. In his view, all five are currently in play."
and he expounds at length on how it's all hanging by a thread
https://www.zerohedge.com/geopolitical/not-about-tariffs-ray-dalio-fears-something-worse-recession
