Raoul Pal sees rising risk of a global recession — and due to the precarious construction of the recent economic expansion, the resulting damage could be unusually devastating. In this deep-diving presentation, Raoul presents many specific indicators of weakness, speaks to the potential market impact, and explains how a "doom loop" could quickly take matters from bad to catastrophic. He also suggests steps that savvy investors could take to prepare themselves. Finally, he previews some of the conversations he plans to have over the next two weeks on Real Vision, as he seeks to better understand both the current risks and the potential opportunities. Filmed on July 8, 2019 in New York.