If fiscal injections don't generate sustained growth (as seen in Japan and following 2001 and 2008), we could eventually see something much larger than incremental stimulus—a New Deal-style massive spend that differs based on which party controls government.

forecastpending

Speaker

Raoul Pal

Evidence Quote

Fine, we're going to do a 5 trillion... New Deal-style spend... different depending on whether it's on the left or the right

Source

Lyn Alden's Macro Masterclass (w/ Raoul Pal)Real Vision
Created: 8/12/2026, 10:22:19 PM

My Notes

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