High energy warning! Macro investment guru Raoul Pal just pointed out an incredible wealth logic: the current real investment return threshold is as high as 11%. He admitted that if the asset return rate cannot beat this number, ordinary people are actually getting poorer every year. He bluntly stated that the core pain point that leads to the rich getting richer and the poor getting poorer is that it is difficult for the public to participate in high threshold investments. But encrypted assets have completely broken this deadlock, giving ordinary people a ticket to cross social classes with their highly segmented and globally interconnected characteristics. The real super driving force behind this is the huge change in population structure. He presented a chart that was hailed as the most important but rarely shared in the macro field, revealing an iron law: population structure determines destiny. As many countries around the world fall into negative population growth, labor force participation rates are inevitably continuing to decline. Based on the basic formula that 'GDP growth rate equals population growth rate plus productivity growth rate plus debt growth rate', when the population starts to seriously drag down, the only way to maintain the surface growth of the economy is to significantly increase debt. Therefore, the continuous surge in global debt is entirely the inevitable result of population aging. He judged that this cycle of being forced to continuously issue bonds as the labor force shrinks will continue until a true super turning point arrives: artificial intelligence and robot armies will fully enter the market as a "new labor force". At that time, the human economy will usher in a true singularity.