Dollar 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.

Dollar 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.

People have different impressions of themselves, and where reality lies is somewhere in between.

When the tide goes out, you get to see who's swimming naked. PIMCO has had its bathing suit on for a long time

Human nature means that institutions at some point lose their sense of mission. That sense of vulnerability drives Pimco.

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.

Both from the standpoint of stocks and bonds, an investor wants to go where the growth is.