Bill Gross is still preaching that the world's financial system is due to implode.
In his latest monthly "Investment Outlook," Gross, the superstar funds manager for Denver-based Janus Capital Group Inc. (NYSE: JNS), warns "our highly levered financial system is like a truckload of nitro glycerin on a bumpy road. One mistake can set off a credit implosion."
He compared the world's current financial situation to 2008, which was the beginning of a worldwide recession.
Only this time, the world's financial markets aren't as flexible as they were nine years ago.
"Don't be allured by the Trump mirage of 3-4 percent growth and the magical benefits of tax cuts and deregulation. The U.S. and indeed the global economy is walking a fine line due to increasing leverage and the potential for too high (or too low) interest rates to wreak havoc on an increasingly stressed financial system."
Read more at the Denver Business Journal: http://bit.ly/2mpuGx8