Deleveraging & Growth - What We Need for Recovery
Here’s a great market summary by Bill Gross of PIMCO: ”A deleveraging process based upon too much debt and too little growth to service it.” ”…4-6% annualized returns for a diversified portfolio of stocks and bonds is the likely outcome.” In other words, buckle up. It’s going to be a long road back to recovery. We need to get through the deleveraging process and see growth BEFORE we start to recover.
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