"The most beautiful deleveraging," says Ray Dalio, describing the action in the U.S. economy. Europe? "Ugly." American policymakers have gotten things right by mixing debt restructuring with injections of cash to keep demand growing, he says, and the ECB's recent move to money-printing leaves him more optimistic about the EU.
"The most beautiful deleveraging," says Ray Dalio, describing the action in the U.S. economy....
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