Epstein Files Backpedal - July 7, 2025

In this book, Ray Dalio provides a groundbreaking analysis of the Big Debt Cycle, addressing critical questions about debt growth, the potential for a major reserve currency country like the US to go broke, and how to identify and mitigate debt-related risks. Dalio draws on his experience as a global macro investor and his study of 35 historical cases of governments facing financial crises over the past 100 years. He offers a template for identifying and managing debt problems, which he has discussed with treasury secretaries and central bankers worldwide. The book explains the mechanics of debt sustainability, potential government debt reduction strategies, and the role of central bank interventions in managing debt crises.

Published in 1949, '1984' is a cautionary tale by George Orwell that explores the dangers of totalitarianism. The novel is set in a dystopian future where the world is divided into three super-states, with the protagonist Winston Smith living in Oceania, ruled by the mysterious and omnipotent leader Big Brother. Winston works at the Ministry of Truth, where he rewrites historical records to conform to the Party's ever-changing narrative. He begins an illicit love affair with Julia and starts to rebel against the Party, but they are eventually caught and subjected to brutal torture and indoctrination. The novel highlights themes of government surveillance, manipulation of language and history, and the suppression of individual freedom and independent thought.