Legendary investory Jeff Gundlach gave one of the most depressing presentations you’ll ever hear at last week’s Morningstar Investor Conference (via Prag Cap).
The bond guru and founder of Doubleline Capital combines debt apocalypse with negative indicators in the current recession, like the looming mortgage crisis, to say America has only three options: Cut, print, or default. Of these three options, he says, the only realistic outcome (if not all three) is default:
“some type of polite default, at a minimum, will happen.”
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