
UBS Asks Borrowers Why They Might Default, Gets Hilarious Answer…
Ok, so there's considerable debate about whether or not Ray Dalio's "beautiful deleveraging" ever actually took place.
As a reminder, here's what Ray said some years ago about what the hell a "beautiful deleveraging" looks like:
A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic. It doesn't pr
IIRC the beautiful deleveraging is only beautiful in comparison to the only other options (as per Dalio), hyperinflation or depression.
I read that “why will i default” graph a just a tad bit differently. It says to me, “I have no idea because I’m a financial illiterate”.
In the end, perhaps that’s a synonym for “fuck it”.