Raoul Pal: Everything I Look At Says There Will Be Negative GDP In Q1 Next Year

Newsletter writer Raoul Pal — who writes the popular Global Macro Investor, which is read by hedge funds and the wealthy — says everything he looks at indicates that negative growth is coming in Q1 next year.

What’s he looking at? In an interview on CNBC, he says that The ECRI ( which has improved a little bit of late) and the leading indicators of the ISM all point to a slowdown.

Bear in mind that Pal has been uber-bearish for quite some time. In May he warned of the possibility of a sudden crash that never materialised.

As for Europe — Pal lives in Spain — he says you can see how bad it all is on the ground (shops closing, etc.), and he thinks that European sovereign default is a real possibility.

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