Bill Gross Confident US will default on its Debt

I started writing this blog a few months ago because I got tired of telling family and friends the same thing at different times. So I now say just read the blog and you won't get fooled again! Having been burned by the tech bubble, housing bubble, and 08 financial crisis,\. I was not going to sit quietly while they lead me (my family and friends) down the garden path in this coming debt crisis. Do you think anyone of them are listening, nope (maybe a couple)! Why because the S&P goes up everyday and so everything must be fine, right? 

The fact that America is bankrupt isn't really news to people with political or finance backgrounds, but the most simple hard work people are completely unaware. 


I coach my kids little league team and when the parents get together start talking about politics or issues about the economy, I am amazed that people really have their heads in the sand or they say stuff like, what can we do about it? Ah, protect yourselves your families?

Anyway, here is the latest from PIMCO:

 "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." 

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