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There is slow growth, but it is positive slow growth. At the same time, ratios of debt-to-incomes go down. That's a beautiful deleveraging.

"RAY DALIO: America Is Executing A 'Beautiful Deleveraging'" by Sam Ro, www.businessinsider.com. May 19, 2012.
There is slow growth, but it is positive slow growth. At the same time, ratios of debt-to-incomes go down. That's a beautiful deleveraging.