Tag federal debt

Federal entitlement spending is unsustainable

From Bill Gross at PIMCO Unless entitlements are substantially reformed, the U.S. will likely default on its debt; not in conventional ways, but via inflation, currency devaluation and low to negative real interest rates. Gross says entitlements are where the…

Off with our heads! On the delusions of many Americans

From Bill Gross, managing director of Pimco, who manages over $1.2 trillion in assets, mostly bonds. He’s definitely not perky about the finacial and debt catastrophe he sees looming for the US. Like George Soros, another billionaire, he clearly sees…

The federal debt, drug money, and KRS-One

Ok, it’s getting really bizarre out there. Business Insider asks “How much of the federal debt is financed with drug money?” then answers by posting a video of KRS-One doing “Illegal Money” from 1990. “Cocaine business controls America” indeed. More:…