As the tremblings continue from Europe, fears continue to mount over the eventual collapse of the monetary system, evaporating decades worth of economic progress. The amount of debt that has been piled up about 70 Trillion has finally caught up with the total value of the goods the world produces every year. It's this debt that has grown exponentially recently, funding an entitled lifestyle of ease for many, the most notable and presently discussed, the country of Greece. Wait, I thought we just received funded pensions at 40 and 3 day work weeks with imaginary figures in some bank account, what, we owe people this 'debt'??
Combining corrupt leadership, powerful financiers, fiat currencies, fractional reserve based monetary systems, and the natural inclination of people toward greed and power has unleashed a powerful storm of economic malaise. Button down the hatches, until the financial system is reformed and accountable governance is restored to the republic, expect more storms ahead.
Former Hedge Funder’s Fearful Forecast: We‘re Looking at ’The Biggest Economic Shock the World Has Ever Seen’ & There’s Nothing We Can Do to Stop It
Former co-manager of the GLG Global Macro Fund Raoul Pal has joined the growing chorus of economists who believe the global economy is headed in the absolute wrong direction.
What does the Goldman Sachs alumnus see on the horizon?
Mr. Pal, who writes for The Global Macro Investor, a research publication intended only for larger institutions, hedge funds, and family offices, believes that a global banking collapse and massive defaults will bring about “the biggest economic shock the world has ever seen” — and there’s nothing we can do to stop it.
Well, that’s pretty dire. Does he have anything to back up his claims?
We’re glad you asked. Without further explanation, here is “The End Game,” Pal’s impressively comprehensive (and grim) presentation on the current state of the global economy: Presentation here at BusinessInsider
Check out Raoul Pal's slide show presentation here.