Yes - disgust at the old world order and the embrace of risk taking .... and here we are again, seemingly nearing the end game of the 80 year cycle:
Ray Dalio had a theory:
Stage 1 is when a) the new order begins after a war, b) the new leadership consolidates power, c) debts are restructured or monetized so debt burdens are reduced, and d) wealth gaps and conflicts over them are reduced, which leads to…
Stage 2, which is when there is a further consolidation of power and the building of resource allocation systems, which leads to…
Stage 3, which is when there is peace and prosperity, which leads to…
Stage 4, which is when there are great excesses in spending and debt and a widening of the wealth and political gaps, which leads to…
Stage 5, which is when there are bad financial/economic crises and intense conflicts between comparably powerful parties within countries and between countries, which leads to…
Stage 6, which is when there are wars, which leads to…Stage 1, Stage 2, etc.
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