When the head of the world's largest bond fund starts paraphrasing war-time phrases, you know nothing is what it seems...
Gross: Never have investors reached so high in price for so low a return. Never have investors stooped so low for so much risk.
— PIMCO (@PIMCO) May 14, 2013 [6]
It seems to us that this can only end one way and the fight on the beaches this time will be between economic reality and central-bank-inspired mass hypnosis.