{"id":52248,"date":"2020-04-07T07:49:36","date_gmt":"2020-04-07T12:49:36","guid":{"rendered":"https:\/\/olduvai.ca\/?p=52248"},"modified":"2020-04-07T07:49:40","modified_gmt":"2020-04-07T12:49:40","slug":"the-whole-worlds-fked-raoul-pal-pulls-no-punches-in-latest-interview","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=52248","title":{"rendered":"“The Whole World’s F**ked!” – Raoul Pal Pulls No Punches In Latest Interview"},"content":{"rendered":"\n

“The Whole World’s F**ked!” – Raoul Pal Pulls No Punches In Latest Interview<\/a><\/h3>\n\n\n\n

“The whole world’s f**ked.”<\/strong><\/em><\/p>\n\n\n\n

That is how Raoul Pal, the former hedge-fund manager who founded Real Vision<\/a>, reacted when he first heard of the uncontrolled and rapid contagion of COVID-19 across the globe. Speaking from his home in the Cayman Islands on the latest “Lindzanity”<\/em><\/a> podcast, the ex-Goldman, ex-GLG Partners trader said:<\/p>\n\n\n\n

“The moment the spread hit Iran… and then Italy… that all happened over the span of three or four days… I was like: ‘time to panic before everybody else’<\/strong><\/em>…”<\/p><\/blockquote>\n\n\n\n

“It’s human behavior function. If the Chinese closed every single border and every city,\u00a0everybody’s going to do it.<\/strong>“<\/p>\n\n\n\n

“I said: ‘Listen, this is the biggest economic event of all of our lifetimes – and it’s coming’<\/strong>” he added. “And that was, in retrospect, the greatest call I’ve ever had<\/strong>.”<\/p><\/blockquote>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

And now, with stock markets down 20-40% (depending on geography), bond yields collapsed, credit spreads still blown out, oil almost in the teens, and gold topping $1700, Pal continues to think (even after Monday’s manic short-squeeze meltup), that COVID-19 will cause “the largest insolvency event in all history.”<\/strong> And, as Business Insider notes,<\/a> given his track record as of late, that’s not reassuring.<\/p>\n\n\n\n

“I think the balance of probabilities are that this is a much longer event – in terms of economic impacts – than anybody is pricing in,” <\/strong><\/em>he said.<\/p>

“I think it’s a huge societal change that’s coming from all of this.”<\/p><\/blockquote>\n\n\n\n

To Pal, it is the duration of the fallout from COVID-19 lockdowns that is the key factor here, and one he believes investors are not paying enough attention to (let alone pricing in). In his mind, those who are a projecting sharp V-shaped recovery in the third and forth quarter are incorrect in their assumptions.<\/p>\n\n\n\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

“The Whole World’s F**ked!” – Raoul Pal Pulls No Punches In Latest Interview “The whole world’s f**ked.” That is how Raoul Pal, the former hedge-fund manager who founded Real Vision, reacted when he first heard of the uncontrolled and rapid contagion of COVID-19 across the globe. Speaking from his home in the Cayman Islands on the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,4,6],"tags":[29333,855,4318],"class_list":["post-52248","post","type-post","status-publish","format-standard","hentry","category-economics","category-environment","category-liberty","tag-raoul-pal","tag-viral-pandemic","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52248"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52248\/revisions"}],"predecessor-version":[{"id":52249,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52248\/revisions\/52249"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}