Crypto and Tech Investing ‘The Only Way’ To Escape Collapsing American Dream, Former Goldman Sachs Executive Says

Investing in crypto and technology is the only way out of the collapsing American dream as wages flatline and the printing of money undermines its value, says a former Goldman Sachs executive.

Raoul Pal, now CEO of Global Marco Investor, told his almost 1 million followers on the social media platform X that they face a grim future. Wages haven’t risen in real, inflation-adjusted terms since 1965 and are “an endless hamster wheel of despair” for workers, he said.

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

The situation is made worse by rising asset prices as equities increased in real terms by 2.5% a year, compounding into an 83% loss of purchasing power for workers, he said.

Things will get worse, with the presidential election next year only deepening societal divides and with the Federal Reserve Bank printing more money and the government handing out more stimulus ”to bribe the voters,” he said.

Only Way Out Is To Own Crypto And Tech Assets

That ”leads to yet more printing down the line and the people will get poorer and poorer and poorer and despair will keep rising and rising and rising,” he added. “I know I go on and on (and on) about this but the only way out is to own the assets that rise in exactly this situation – crypto and technology. Everything else is a wealth trap.”

The situation is causing anger and rage, and splitting society into a bipolar, two-party system where everyone blames the other in a growing spiral of hatred, he said.

But by investing in crypto and tech people will feel more in control and be better able to deal with development, he said

“Even if you can only afford a very small amount of these assets, it will make a difference,” he said. “I see no other way. Choose wisely.”

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