Reviving the American Dream: Raoul Pal’s Crypto Revelation
Former Goldman Sachs veteran Raoul Pal believes that investing in cryptocurrencies and technology represents a strategic response to what he terms the "diminishing prospects of the American dream."
Pal conveyed to his followers that real wages in the United States have remained stagnant since 1965 when adjusted for inflation. This prolonged stagnation underscores the perpetuation of economic struggles in the country.
Postcards from the Death of the American Dream..
(warning, these are not comfortable viewing)
Since 1965 (everyones working memory) wages have not risen in real terms. Its an endless hamster wheel of despair… pic.twitter.com/TFFXgHkVgx
— Raoul Pal (@RaoulGMI) September 3, 2023
He further noted that asset values and debt levels in the United States continue to surge while life expectancy is on the decline. Pal anticipates that the upcoming 2024 presidential election will exacerbate the nation’s societal challenges, particularly with the introduction of “deep fakes and AI-driven disinformation.”
According to Pal, 2024 will be marked by increased money printing by the Federal Reserve and additional stimulus efforts by the government to sway voters, leading to a cycle of escalating monetary expansion and worsening living conditions for the populace. In his view, this will contribute to an ever-mounting sense of despair.
Pal recognizes that he frequently emphasizes this viewpoint. Still, he firmly maintains that the only viable course of action is to possess assets that are appreciated in such circumstances, namely cryptocurrencies and technology investments. He contends that all other financial choices may entrap individuals into a wealth depletion cycle.
Acquiring even a small allocation of these assets, even if financially modest, can have a meaningful impact on one’s financial resilience. In his view, there are no alternative strategies. The choice, he advises, should be made judiciously.