Gross Calls Spending to Maintain Consumption a Waste


Pacific Investment Management Co.’s Bill Gross said deficit spending by governments that seek to maintain artificial levels of consumption “can be compared to flushing money down an economic toilet.”

— it’s good to see one of the world’s largest fund managers coming out against deficit financed consumption spending… spending one’s way to prosperity is like standing in a bucket while trying to lift one’s self up by the handle.

http://www.bloomberg.com/news/2010-07-28/gross-equates-spending-to-lift-consumption-with-flushing-money-down-toilet.html

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