Global recession is being talked about literally everywhere. Between the gas pump and groceries alone you can’t help but feel the tension rising.Raoul Pal, a former hedge fund manager that retired at the age of 36, serial entrepreneur, and global macro investor expert is joining Tom for a second time to discuss the realities people need to be aware of to thrive in a global recession.A word of wisdom he shares that was passed on to him is, “he who has cash in a recession is king.” The bottom line Raoul is openly sharing is that income and the ability to advance on opportunities makes all the difference.“Buy when there’s blood in the streets, even if the blood is your own.” - Nathan RothschildHaving a solid work ethic, a strong (and maybe unreasonably optimistic) belief, coupled with income and the knowledge to look for moments of extreme weakness to buy and make moves, without leverage, against opportunities can get you to the other side of this crisis potentially better off than when it all began.You get to decide what to focus on. Will it be the existential global crises or the opportunities most are too scared to see or take advantage of?Check out our sponsors: Skillshare: Explore your creativity at skillshare.com/impacttheory for a 1 month FREE trial of Premium Membership.SHOW NOTES:0:00 | Introduction to Raoul Paul1:10 | The Makings of a Global Recession12:30 | Money Market & Loanable Funds21:00 | Debt and Leverage Explained32:56 | Stopping the Economic Implosion47:23 | Death of the American Dream54:47 | Opportunity for Growth1:09:36 | Thriving In Volatile Markets1:18:39 | Changing Global Order1:28:37 | How Raoul Increases His OptionsAre You Ready for EXTRA Impact?If you’re ready to find true fulfillment, strengthen your focus, and ignite your true potential, the Impact Theory subscription was created just for you.Want to transform your health, sharpen your mindset, improve your relationship, or conquer the business world? This is your epicenter of greatness. This is not for the faint of heart. This is for those who dare to learn obsessively, every day, day after day.Subscription Benefits: Unlock the gates to a treasure trove of wisdom from inspiring guests like Andrew Huberman, Mel Robbins, Hal Elrod, Matthew McConaughey, and many, many, more New episodes delivered ad-free Exclusive access to Tom’s AMAs, keynote speeches, and suggestions from his personal reading list You’ll also get access to an 5 additional podcasts with hundreds of archived Impact Theory episodes, meticulously curated into themed playlists covering health, mindset, business, relationships, and more: Legendary Mindset: Mindset & Self-Improvement Money Mindset: Business & Finance Relationship Theory: Relationships Health Theory: Mental & Physical Health Power Ups: Weekly Doses of Short Motivational Quotes  Subscribe on Apple Podcasts: https://apple.co/3PCvJazSubscribe on all other platforms (Google Podcasts, Spotify, Castro, Downcast, Overcast, Pocket Casts, Podcast Addict, Podcast Republic, Podkicker, and more) : https://impacttheorynetwork.supercast.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices