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Why "Cheap Money" Is Worrying Billionaire US Investor Ray Dalio | GZERO World

Why "cheap money" is worrying billionaire US investor Ray Dalio

Just days ago, the US national debt topped $30 trillion for the first time in history. Household debt jumped by $1 trillion last year, the most since 2007.

For Ray Dalio, the billionaire head of the world’s largest hedge fund, rising debt across the board is a big problem because it's increasingly widening the gap between all the money out there and what it can buy.

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Larry Summers: Rising Inflation Makes Society Feel "Out of Control” | GZERO World

Larry Summers: Rising inflation makes society feel "out of control”

The economic consequences of high inflation are already bad enough.

But for Larry Summers, sometimes the psychological trauma that comes with it can do even more damage to a society.

"A society where inflation is accelerating is a society that feels out of control."

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What We're Watching: Chinese tennis star reappears, Bulgarian president re-elected, US Fed chief renominated

Is Peng Shuai really safe? The Women's Tennis Association has said that Chinese tennis star Peng Shuai's video call with the International Olympic Committee (IOC) on Sunday does not sufficiently address concerns about her safety and whereabouts. Peng disappeared from public life several weeks ago after accusing former Chinese Vice-Premier Zhang Gaoli of sexually assaulting her. Over the weekend, Chinese state media published photos of her at a restaurant and a tennis tournament, and she held a half-hour call with the IOC in which she said she was fine and asked for privacy. But no one can be sure that Peng wasn't coerced into making those statements. The WTA, which has threatened to pull tournaments out of China, continues to call for a full investigation into Peng's allegations, and the story is adding fresh impetus to calls for nations around the world to boycott the upcoming Beijing Winter Olympics.

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Will Biden's spending bring inflation back from the dead?

The US federal government is gearing up to spend a lot of money these days. So far, to cushion the blow of the pandemic, Washington has already parted with $5 trillion in the form of direct payments to households, forgivable loans to businesses, and other support including aid to state governments. And more is coming.

President Joe Biden has proposed another $4 trillion in federal funds for physical and "human" infrastructure, some of which would create income support and social spending programs that would last well beyond the pandemic.

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