Newsinfo
05-18-2011, 11:57 AM
Here's what the $1.2 Trillion money manager had to say in his April 2011 outlook:
I sit before you as a representative of a $1.2 Trillion money manager, historically bond oriented, that has been selling Treasuries because they have little value within the context of a $75 Trillion total debt burden. Unless entitlements are substantially reformed, I am confident that this country will default on its debt; not in conventional ways, but by picking the pocket of savers via a combination of less observable, yet historically verifiable policies - inflation, currency devaluation and low to negative real interest rates.
- Bill Gross, Head of PIMCO
http://seekingalpha.com/article/270032-pimco-s-bill-gross-continue-to-short-u-s-bonds-unless-double-dip-happens
Best Economy discussions in History
http://www.elitetrader.com/vb/showthread.php?s=&threadid=220715
I sit before you as a representative of a $1.2 Trillion money manager, historically bond oriented, that has been selling Treasuries because they have little value within the context of a $75 Trillion total debt burden. Unless entitlements are substantially reformed, I am confident that this country will default on its debt; not in conventional ways, but by picking the pocket of savers via a combination of less observable, yet historically verifiable policies - inflation, currency devaluation and low to negative real interest rates.
- Bill Gross, Head of PIMCO
http://seekingalpha.com/article/270032-pimco-s-bill-gross-continue-to-short-u-s-bonds-unless-double-dip-happens
Best Economy discussions in History
http://www.elitetrader.com/vb/showthread.php?s=&threadid=220715