Imperceptibly, the developed world's manufacturing base was gradually eroding and being replaced by securitized finance that destroyed itself and nearly its economies in 2008.
Bill GrossCompanies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.
Bill GrossWe are witnessing the death of abundance and the borning of austerity, for what may be a long, long time.
Bill GrossDollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries.
Bill Gross