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Page added on June 2, 2012
Former Hedge Fund Manager Warns Of ‘THE END GAME’ In Terrifying Presentation
Everyday, we hear some pretty grim predictionsabout the markets and the economy. But this is one of the more comprehensive and most gloomy outlooks we’ve ever seen.
Raoul Pal expects a series of sovereign defaults, the “biggest banking crisis in world history”, and asserts that we don’t have many options to stop it.
Pal previously co-managed the GLG Global Macro Fund. He is also a Goldman Sachs alum. He currently writes for The Global Macro Investor, a research publication for large and institutional investors.
A note on the presentation; the last slide is not meant to suggest that we’re going back to the economic activity of 3000 years ago. It refers to the 3000 year old trade links between the nations along the Indian Ocean, which Mr. Pal believes will be the center of world’s opportunities. Just like the West 50 years ago, they have “…low debts, high savings and a young population”.
presentation on businessinsider.com
3 Comments on "Former Hedge Fund Manager Warns Of ‘THE END GAME’ In Terrifying Presentation"
BillT on Sun, 3rd Jun 2012 1:38 am
Yep, the future is here in the ASEAN countries…not in the West. And yes, the S— is about to hit the fan all over the developed world.
Stephen on Sun, 3rd Jun 2012 6:52 am
I think if this happens, there will probably be a period of barter, a little social unrest, and an economy built on real cash as in no debt, no banking, very little if any loans, and probably a big shift in public policy, maybe even abandoning the “price tag on every piece of matter philosophy”. Perhaps endless growth capitalism and corporatism will not the dominant economic policy anymore, and perhaps a massive shift of wealth will occur in which the bankers aren’t the ones that are the richest.
Kenz300 on Sun, 3rd Jun 2012 11:20 am
Banks turned themselves into Casinos making bets not loans. The too big to fail banks all need to be broken up into smaller banks and go back to banking not betting.