Bill Gross - Bill Gross: U.S. is close to "point of no return."

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Bill Gross: U.S. is close to "point of no return."

Thursday, June 04, 2009
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From Newsmax:

The U.S. annual deficit of nearly $1.5 trillion is 10 percent of its gross domestic product — a number never approached since the Great Depression, says PIMCO head Bill Gross.

"The immediate question is who is going to buy all of this debt?" Gross writes in a note to investors.

"It is obvious that the Chinese and other surplus nations cannot fund the deficit even if they were fully on board - which they are not."

Read full article...

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Topics:		Bill Gross \| Boondoggle

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