Economics
Gross to Central Banks: Take Lesson in Credit From Monopoly
- Janus manager says central bankers worshipping ‘false idols’
- Gross’s unconstrained bond fund has gained 3.3% this year
Bill Gross Reacts to Fed Minutes, Brexit Impact on Bonds
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Billionaire bond investor Bill Gross has a message for Janet Yellen: Take a lesson from Monopoly.
Gross, in his latest outlook for Janus Capital Group Inc., likened the economy to the board game where players collect $200 every time they pass the “Go” square. That payment -- the game’s version of credit creation -- ensures expansion at the start, but it also dooms players because the amount is fixed and doesn’t grow, eventually leading to stagnation and bankruptcies.