Ray Dalio warns of looming US debt crisis.
Billionaire investor Ray Dalio has warned that the US is at the beginning of a debt crisis, with a shortage of buyers for the country's debt. He also predicted tougher times ahead for the US economy, including a balance-sheet recession. The Treasury department has already announced plans to issue $1.6 trillion in T-bills this year until the end of 2023, but Dalio questioned whether there will be enough buyers for this debt. While interest rates are likely to stay at current levels, Dalio warned that the US economy will weaken.