Macroeconomic expert Raoul Pal says global markets are locked in a mass liquidation phase – and he doesn’t expect a turnaround in the short term.
In a new interview on Real Vision, Pal says no matter what’s in your portfolio, more pain is likely in store.
For now, Pal cites the US dollar as the only asset that may remain strong.
“This is an ugly market. What I think is going on here is there are two factors for the market to digest. One is inflation, and that created the market to set up in certain ways. Everyone’s crowded into certain things. Then, growth starts evaporating. You can see it all over the place, [in] stuff like consumer discretionary stocks. You can see it in