…Long Live the American Dream
Raoul Pal: Real Vision
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Is There a Dark Side to the Exorbitant Privilege?
Raoul Pal: There's this dark side to the exorbitant privilege, which is that your industrial economy gets priced out in other marketplaces. The global reserve currency with the biggest power obviously gets killed the most. He says wages are never going up again; inflation of demand driven CPI never ever coming back in our lifetimes. "If we can stop the business cycle then we can probably reach our employment mandate," he says.
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