(Reuters) – Bill Gross, the PIMCO bond guru, said on Thursday a heavy reliance on credit has put the U.S. economy on a trajectory toward extinction, and he warned of an investor exodus from financial markets. Gross, who runs the $285 billion Pimco Total Return Fund, the world’s largest bond fund, said a breakdown in credit markets will likely spur inflation, something he has warned against in previous letters.
PIMCO’S Gross Sees U.S. Economy on Road to Extinction
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February 19, 2013 6:15 pm est