Place your bets: Bill Gross or a Business Insider blogger?

In a post on Business Insider, blogger David Schawal takes issue with Gross' latest investor letter, calling one of the Pimco PM's claims about looming fiscal disaster "nonsense."

Gross' latest investor letter describes -- in a tone that's unusually bombastic, even for him -- a "ring of fire" of government debt and low returns in which bonds will be "burned to a crisp." And he says that the U.S. will turn into Greece if the federal government doesn't mend its ways.

Nonsense, says Schawal — the U.S., unlike Greece, can print its own currency. But he thinks Gross may be right about the "burned to a crisp" part, even though his analysis is far less apocalyptic, colorful, and extreme — far less Grossian — than Bill Gross' own.

See Schawal's post here; MFWire's post on the latest Gross opus is here. 

Edited by: Chris Cumming


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