Full Explainer

How Government Debt
Erodes Currency

Click any step to expand and see the data, mechanics, and real-world numbers behind each stage of the debt cycle.

Inspired by Ray Dalio's debt cycle framework

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Trigger

Domestic Mechanics

Foreign Response

Consequence

Political

The cycle splits into two parallel paths

Both paths converge

A synthesis of Ray Dalio's debt cycle ideas, grounded in current U.S. data
Built as a learning exercise — not financial advice

Created February 15, 2026 · Data as of late 2025

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