Former co-manager of the GLG Global Macro Fund Raoul Pal has joined the growing chorus of economists who believe the global economy is headed in the absolute wrong direction.
What does the Goldman Sachs alumnus see on the horizon?
Mr. Pal, who writes for The Global Macro Investor, a research publication intended only for larger institutions, hedge funds, and family offices, believes that a global banking collapse and massive defaults will bring about “the biggest economic shock the world has ever seen” — and there’s nothing we can do to stop it.
Well, that’s pretty dire. Does he have anything to back up his claims?