Maria Irene
Macro Economist Raoul Pal, a Solana enthusiast and well-known voice in the finance community, recently took to social media to share his thoughts, painting a dark and worrisome portrait of America’s future. The founder of Real Vision Group didn’t hold back, presenting a no-holds-barred analysis of the United States’ economic, social, and political landscape as we approach the 2024 elections.
The Vicious Cycle of Debt
Pal opened with a warning on America’s ever-growing pile of debt. He posted, “So the answer has been to load up on debts, after debts, after debts… a crushing amount of debt.” He suggested that the only way the country has been able to service this debt is by “printing more and more and more money so the collateral never fails.”
Asset Inflation and Wealth Gap
This approach has damaging consequences. “But that debases the currency and optically forces asset prices higher and higher and higher, while wages don’t rise and people get poorer and poorer and poorer,” Pal said. He argues that the increasing money supply inflates the prices of assets, such as real estate and stocks, while doing little to nothing for the average American’s income.
Rising Anger and Polarization
This economic backdrop feeds into a toxic political environment, according to Pal. “And that leads to ANGER and the RAGE, splitting everyone into a bipolar, two-party system where everyone blames the other in growing hatred,” he warned. Pal goes on to point out that the division is so severe that even the national response to Covid-19 has become a political issue.
The American Health Crisis
The societal unrest has spilled over into public health as well, with Pal noting an “unprecedented opioid crisis” and stating that “Americans are dying in HUGE numbers.” These are not just numbers; these are “political deaths,” as Pal emphasizes, showing a country where people are not only divided but also increasingly unhealthy and living shorter lifespans.
The 2024 Election: A Powder Keg
Looking ahead to the 2024 U.S. presidential election, Pal fears the worst. “We are about to enter the 2024 election where the country is ANGRY, CONFUSED and DIVIDED and we are going to introduce deep fakes and AI misinformation into the mix at scale, and people are going to lose their minds,” he predicts.
A Glimmer of Hope: Crypto and Technology
Despite his doomsday tone, Pal does offer a glimmer of hope. “The only way out is to own the assets that rise in exactly this situation – crypto and technology,” he asserts. “Even if you can only afford a very small amount of these assets, it will make a difference.” He concludes by urging everyone to take control of their future, as despair will continue to rise.
Raoul Pal’s grim portrayal of America’s near-term future should serve as a wake-up call for anyone concerned about the economic, social, and political fabric of the nation. Whether one agrees with him or not, the urgency in his words is a sign that perhaps it is high time to engage in a more constructive dialogue about the challenges the United States faces. After all, as the saying goes, recognizing the problem is the first step toward solving it.
While Raoul Pal paints a grim picture of America’s future, it’s worth noting that signs of economic strain and social division are appearing globally. Take Singapore, for example—a perfect storm of ambition, high living costs, and the elderly working jobs like sweeping food courts just to make ends meet. During my visit in February For the SIngapore Blockchain Summit, it was hard to ignore old-timers driving cabs or moonlighting as janitors, often clocking in more hours than a Wall Street intern. The high costs of living are so prohibitive that some immigrants even reside in Malaysia and commute to Singapore for work.
Now, contrast this with Bali, where octogenarians seem far happier, living in villages without the pressure of mortgages or luxury car payments. It makes you question what we’ve all signed up for in this modern rat race. Are those who’ve sidestepped the treadmill of materialistic lives the true winners here, content with simpler, less frenetic lives?
So, what Pandora’s box have we all opened globally? How do we put this genie of economic disparity and social division back into the bottle? It’s a depressing thought, but one that we need to confront not just in America, but worldwide.
