Did someone say Trillion dollar deficit?

Bill Gross, by many accounts, is one of the wisest persons on the planet, at least when it comes to fixed income investing. His perspectives and explanations about plain old Main Street Economics are worth knowing; I recommend adding him to your Reader.

Gross prefaces his July 2008 Investment Outlook with this…

“Thought I would jot down this little note to President Obama. It’s a little presumptive of course; first that he’ll even be President (he will) and second that he’d read it (he won’t). But presumptiveness is an inherent requirement of an investment manager and so I shall proceed.”

If the prospect of a one Trillion Dollar Deficit by the year 2011 makes you just a little curious as to how something like that could really happen, take the next five minutes and read Bill Gross’ letter to Senator Barack Obama.
History may not repeat itself, but it does rhyme. Take a look at what happened to another nation when their deficit grew out of hand to nearly 11% of their GDP.
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