Bill Gross Warns "Very Likely' Central Banks Will Cause 1987-Like Crash

What takes other Political Journalism majors (and CTRL-C/V minors) pages and pages of verbose essays full of acronyms and meaningless gibberish to refute, Bill Gross asserts in less than 140 characters.

Needless to say, he is absolutely correct.

Because just as HFT was a latent complacency "catastrophe factor" for the market, as we warned all throughout 2009 and were proven correct on May 6, 2010, so the central banks have now taken over the role of ultimate vol backstopper (as Artemis has shown over and over), a process which will have a catastrophic outcome with absolute certainty.