Interesting perspective from Bridgewater's Ray Dalio on the global debt situation. He's pointing out something that's been brewing for a while - governments are basically boxed in by their debt loads. Can't really maneuver the way they used to.

What's the result? Political chaos. When your hands are tied fiscally, tough choices become impossible choices. And that instability? It ripples through everything - traditional markets, crypto, you name it.

This macro constraint isn't just academic theory. It's shaping policy decisions right now, affecting everything from interest rates to regulatory approaches. Worth keeping on your radar if you're tracking how macro conditions influence digital asset markets.