Ray Dalio warns that the monetary order is breaking down, leaving us with a terrible choice: ‘Do you print money or let a debt crisis happen?’

Ray Dalio never misses an opportunity to cut to the chase. On Wednesday at Davos, speaking to Kamal Ahmed, Fortune’s executive editorial director for the U.K. and Europe, he had a blunt assessment of the landscape leaders and CEOs are facing at the moment. “What always scares me is the lack of realism [among leaders],” he said as he reeled off the historic economic, environmental, and political threats the world is grappling with. “Will law prevail? Everyone is having to deal with that question.”

When it comes to the U.S. economy...