“Say A Little Prayer” Bill Gross Warns, “Zombie Corporations Now Roam The Real Economy”
by Tyler Durden
ZeroHedge.com
07/30/2015
Having exposed the reality that the world’s capital markets are a manipulated shell game, Janus’ Bill Gross has a message for the perpetual bulls in his latest letter to investors – “say a little prayer.” Gross continues, “low interest rates are not the cure – they are part of the problem,” warning that ZIRP has enabled, “a host of zombie and future zombie corporations now roam the real economy. Schumpeter’s ‘creative destruction’ – the supposed heart of capitalistic progress – has been neutered. The old remains in place, and new investment is stifled.” As he previously warned, when the central bank manipulation is removed the likely trajectory of prices is downward…
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