June 2, 2012
Everyday, we hear some pretty grim predictions about the markets and the economy. But this is one of the more comprehensive and most gloomy outlooks we’ve ever seen.
Raoul Pal expects a series of sovereign defaults, the “biggest banking crisis in world history”, and asserts that we don’t have many options to stop it.
Pal previously co-managed the GLG Global Macro Fund. He is also a Goldman Sachs alum. He currently writes for The Global Macro Investor, a research publication for large and institutional investors.