New Delhi, Feb. 27 -- When Ray Dalio talks about cycles, he isn't referring to short-term swings in the stock market, but to structural forces that shape economies and financial markets over long periods of time.

In a recent clip from The Tucker Carlson Show shared on X, Bridgewater Associates founder Ray Dalio explained a basic idea of finance: "One man's debts are another man's assets."

Interest rates in an economy cannot be too high or too low if it needs to function smoothly. If rates are high for too long, borrowers get squeezed. It can raise debt servicing costs, increase defaults, and can slow growth. But if interest rates are kept too low, creditors suffer. Savers earn negative real returns, capital is misallocated, and excessiv...