Following the back-breaking U.S. jobs report Friday, the economic news Monday morning was very grim. With employment progress shockingly below expectations in the U.S., the Tokyo market slumped to an almost 28-year low Monday in addition to continued uncertainty in the European Union, investors across financial markets have raised alarm.
Raoul Pal, a former hedge fund manager and Goldman Sachs alum, writes in the Global Macro Investor that he expects a series of sovereign defaults followed by the “biggest banking crisis in world history." His presentation on "A Terrifying Vision of THE END GAME" posted in the Business Insider, predicts coming defaults for the EU, UK, Japan, South Korea and China, the end of the fractional reserve banking system and of fiat money, "the big RESET."Lofty and troubling assertions in deeed.
On "Real News" Monday the panel discussed the possible incoming economic armageddon, and if there are ways to stop it. Here's a clip from Monday's show: