Raoul Pal Previews the Future: AI, Crypto, QE and the next Phase of Human Flourishing or Upheaval
The Breakdown
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The Death of the American Dream
The baby boom generation all came into the labor force at the same time. The millennial population was larger, not as a percentage of the overall population. So what you did is you killed the American dream. You killed the dream of increasing productivity leads to increasing real wages. And so debt growth grew from the 80s onwards and in 2008 it blew up.
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