If companies don't know that they can run out of money, they won't be thinking of ways not to run out of money.

Bond investors want growth much like equity investors, and to the extent that too much austerity leads to recession or stagnation then credit spreads widen out - even if a country can print its own currency and write its own cheques.

Well, I, you know, I think at PIMCO we always try and be open with the press and the public. I mean, isn't that what voters want from their politicians? Mohamed El-Erian, our CEO, writes several op-eds a week.

When you're underperforming the index, you go home at night and cry in your beer. It's not fun, but who said this business should be fun. We're too well paid to hang our heads and say boo hoo.

Whenever I read the newspaper, I say to myself, 'At least my wife loves me.'

Bonds despite their ridiculous yields will not easily be threatened with a new bear market.

When does money run out of time? The countdown begins when investable assets pose too much risk for too little return; when lenders desert credit markets for other alternatives such as cash or real assets.