I have been reading Ray Dalio's writing for a while now. Somehow, I am getting to think that he is becoming afflicted by the "man with the hammer" syndrome. That is, he is trying to retrofit the view of the world to his "economic machine" model - which in my opinion is flawed to start with. His thesis on both short-term and long-term debt cycles do not have sufficient backing of empirical data and he is basically trying to extrapolate cycles from 2 major data points of economic stress (1930 and 2008).
My suggestion is - read Dalio, or others for that matter, but try to have a view of your own. And end of the day, no one (and I repeat that, no one) has successfully forecasted market cycles consistently, so it be better to look out for specific businesses and markets for cues.