Bill Gross says were all doomed
After a preamble about the 1% that would get him kicked off CNBC, Bill Gross outlines the demographic cliff developed countries are tumbling towards along with the unfunded liabilities.
He thinks it will result in wage inflation for those left behind but I see it more a decades of zero growth.
"The Romans gave their Plebian citizens a day at the Coliseum, and the French royalty gave the Bourgeoisie a piece of figurative "cake", so it may be true to form that in the still prosperous developed economies of 2016, we provide Fantasy Sports, cellphone game apps, sexting, and fast food to appease the masses. Keep them occupied and distracted at all costs before they recognize that half of the U.S. population doesn't go to work in the morning and that their real wages after conservatively calculated inflation have barely budged since the mid 1980's.
...if the 99 think they've got it good (bad) now, just wait 10 or 20 more years until their bills really come due."
