Bill Gross: ZIRP Exacerbates Pension & Retirement Crisis

There is a long history of financial repression in the United States, observed Bill Gross, a bond trader at PIMCO, profited greatly from the largest secular downtrend in interest rates in history. And what he sees now is not only troubling for bond investors and the U.S. economy, but could exacerbate a pension and retirement funding crisis.

Gross: Aging demographics require interest rates off zero to meet their retirement needs

With interest rates at zero, this could “act as a weight or an economic “sinker” that ultimately lowers economic growth as well,” Gross said in a investment outlook published today....