Raoul Pal on the Impact Theory Show
Raoul Pal: Real Vision
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Is There Another Way to Borrow?
The US is about 25 percent of the global economy, yet they have 100 percent equivalent of global GDP in debt. This is the most indebted economy in the history of world economics in terms of global debt because it's so big. The EU crisis wasn't the banks that were in trouble - it was the governments,. Italy, Spain, France, Portugal, Greece couldn't pay their debts.
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