Ray Dalio (21 Aug) projects $7.5T of outlays against $5.5T of revenue and a sovereign debt crisis within roughly three years. Druckenmiller's WSJ op-ed (24 Aug) puts the deficit above $2T and debt above $40T. Dimon (7 Aug) points to infrastructure, global deficits and remilitarisation all pushing long yields up. There is no meaningful dissent from this among named principals.