“When you reach the part of the cycle that you have to borrow money to pay debt service, and the holders of those bonds say it’s a risky situation — in the private debt market, we call that the debt death spiral,” Dalio said.
Source: https://www.marketwatch.com/story/ray-d ... topstories
Ray Dalio warns U.S. could face a surprise debt-crisis ‘heart attack’ within three years
