Wednesday, March 09, 2011

 

Gross Eliminates Government Debt From Pimco’s Flagship Total Return Fund

How to put this in proper perspective? Hmmm. Imagine Bill Gates and Warren Buffet sold all of their shares. It's a huge vote of no confidence in out governments ability to get its financial house in order any time soon and that interest rates will need to rise to compensate for the fiscal irresponsibility. I wrote recently that it might be too late to save our economy from a debt spiral in which ever rising interest rates force the government to make draconian spending cuts. Apparently Bill Gross is worried enough about this to have completely eliminated gov't debt from his portfolio.

Meanwhile Nero's children fiddle.

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