Raoul Pal: We Are All DEBT Slaves
Real Vision: Finance & Investing
The Peak of Industrial Production and Productivity: A Declining Trend
Equity markets, debt markets, GDP growth, and industrial production all peaked in 2008. Since then, industrial production has mostly stagnated or declined, particularly in the US and Europe. This decline has led to a decrease in productivity and the trend rate of growth. Additionally, commodity prices, equity markets, and asset prices have declined since 2008. The speaker also mentions 'peak humans,' indicating that GDP growth has historically been driven by population growth, productivity growth, and debt growth, but with debt growth stagnant since 2008, a decline in population growth, productivity growth, and ultimately GDP growth is expected.
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