When Pimco's Bill Gross Speaks, Listen

Pimco’s Bill Gross, who runs the largest bond fund in the US, came out with his latest essay on the state and direction of the national economy. As usual, he is predicting doom and gloom and blames Greenspan for getting the economy into the predicament it is in.

About the housing market specifically, Bill Gross says, “That doesn’t mean that the housing “bubble” can’t keep going because it likely will if the Fed “Pumps” real yields closer to 0%. But there are limits, and we are heading down the home stretch of this U.S. race towards prosperity based on asset price appreciation.”