One of my favourite investors is Ray Dalio. I had reproduced his recent interview with Bloomberg in words as follows. Hope it helps in your investment decision. Recap of Ray Dalio Economic Machine Productivity Matters in the Long Run – What you earn is what you get to spend. Short term debt cycle – aka business cycle 5-8 years allows us to spend more than what we earn over a short period of time, but when you pay back, you have to spend less Long term debt cycle - 50-75 years (1930s and 2008) i.e. when you have too much debt relative to income that you cannot service anymore and when rate of interest goes to zero, there cannot be stimulation anymore, we run out of usual monetary policy, then you have to go to monetary policy 2 which is QE. This happens in Great Depression and GFC......