We Study Billionaires - The Investor’s Podcast Network

TIP322: Raoul Pal - Macro Overview for 4th Q 2020 (Business Podcast)

Nov 8, 2020
Guest
Raoul Pal
Raoul Pal, Founder of Real Vision, shares his insights on macroeconomics and Bitcoin. He discusses the current inflation vs. deflation debate and why negative interest rates might soon hit the US. Pal argues about Bitcoin's rise as a dominant asset class, attracting hedge funds and corporations. The conversation also dives into the potential implications of Modern Monetary Theory and the concept of a new Bretton Woods, highlighting how these factors could reshape the financial landscape and individual investor behavior.
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INSIGHT

Deflationary Environment

  • Deflationary pressures persist due to aging populations, debt, strong dollar, and technology.
  • Fiat currencies deflate against hard assets, not necessarily consumer goods prices.
INSIGHT

Inflation in Necessities

  • Millennials drive up real estate and healthcare costs, while the wealthy impact luxury goods.
  • Corporate influence in Washington affects pharmaceuticals, healthcare, and certain food prices.
INSIGHT

Impact of Zero Interest Rates

  • Zero interest rates fuel speculation and cyclicality in asset markets, like in Japan and Europe.
  • Generational investment flows from Boomers to Millennials further distort valuations.
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