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Thursday, April 21, 2011

Jeff Gundlach: U.S. debt default is inevitable




Legendary bond investor Jeff Gundlach gave a presentation last summer saying a U.S. debt default was inevitable.

Nine months later, S&P is leaning toward the same conclusion.

Gundlach identified three ways out of the debt crisis: Cut, print or default. But cutting alone rarely works. Printing is limited when foreigners own your debt. As for the last option, he says "some type of polite default, at a minimum, will happen."

Here is the link:
http://www.businessinsider.com/jeff-gundlach-america-default-2011-4#-1

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