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

"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.
Comments (2)
  • Anybody want to call Gold a tangible productive asset???
    3 Jan 2013, 10:31 AM Reply Like
  • Anybody wanna disparage its rise from $35 an ounce to $1,750?
    3 Jan 2013, 10:47 AM Reply Like
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