Crocodilian

Bill Gross: Buy Early What the Government Buys Later

In the road to being a Banana Republic, we've passed many significant milestones: the bungled national election, the suspension of inconvenient bits of the Constitution, the foolish and vainglorious war, but our economy at least appeared to maintain its "free market" character-- until now.

Bill Gross' lesson should worry everyone who believes in markets. Once your investment decisions move from "what's a good company?" to "what is the Government going to buy next?" the nation and the markets have crossed a dangerous line.

Consider doing business in Putin's Russia. It is possible to make money, sure . . . but the key determining factor isn't "how good a business is this?" its "what does the Government think about it?"