Quote from Lucrum:
More like $14 T at the moment but just give'em another couple of years and they'll catch up to your projection.
Here's what the $1.2 Trillion money manager had to say in his April 2011 outlook:
I sit before you as a representative of a $1.2 Trillion money manager, historically bond oriented, that has been selling Treasuries because they have little value within the context of a $75 Trillion total debt burden. Unless entitlements are substantially reformed, I am confident that this country will default on its debt; not in conventional ways, but by picking the pocket of savers via a combination of less observable, yet historically verifiable policies - inflation, currency devaluation and low to negative real interest rates.
- Bill Gross, Head of PIMCO
http://seekingalpha.com/article/270...-to-short-u-s-bonds-unless-double-dip-happens
âMajor Crashâ Coming for Stocks. DOW 3300: Harry Dent
The good news, for those long, is Dent predicts the Dow will trade as high as 13,200 by mid-summer and the S&P 500 as high as 1430, or more-than 7% above current levels. The bad news is "then we could see another major crash," Dent says, forecasting the Dow could trade as low as 3300 in a worst-case scenario. "Bubbles go back to where they started or a little lower," he says. "The stock market bubble started at (Dow) 3800 in late 1994."
http://finance.yahoo.com/blogs/dail...-commodities-already-20110331-080715-415.html
Billionaires Dumping Stocks, Fleeing Market
http://w3.newsmax.com/a/aftershock4/?PROMO_CODE=C490-1
Treasury Secretary Timothy Geithner threw a bomb at Americaâs financial future last night, saying he is âcertainâ another financial catastrophe is on the way and that there is no way of reaching agreement on the debt ceiling without increasing taxes on the wealthy.
And he blamed a combination of timid politicians and credit card-debt-ridden Americans, rather than Wall Street and the big banks, for the financial woes that have beset the country over the past three years.
http://www.newsmax.com/Headline/Tim...l/2011/05/18/id/396840?s=al&promo_code=C49A-1
Sell Fort Knoxâs gold, some say. Asset sale urged to counter debt.
The United States may have run up a huge debt, but it is not poor. The federal government owns roughly 650 million acres of land, close to a third of the nationâs total land mass. Plus a million buildings. Plus electrical utilities such as the Tennessee Valley Authority. And the Interstate Highway System.
With the United States poised to slam into its debt limit today, conservative economists are eyeballing all that gold in Fort Knox.
Thereâs about 147 million ounces of gold parked in the legendary vault. Gold is selling at nearly $1,500 an ounce. Thatâs many billions of dollars in bullion.
http://www.journalgazette.net/article/20110516/NEWS03/305169957/1006/NEWS