"Costless" check-writing does have a cost, says Bill Gross, as it confuses business models and...

|By:, SA News Editor

"Costless" check-writing does have a cost, says Bill Gross, as it confuses business models and makes purchases of "paper" a preferred corporate choice over "investments in tangible productive (assets)." Government financing schemes - be it Bernanke's today, or John Law's 300 years ago - always end badly. Keep your bond durations short.