Table of Contents

“Nominal GDP growth over the past five years would have been negative if U.S. public debt had not increased, one thing everybody seems to miss when they look at these GDP numbers … they seem to not understand that the growth in the GDP it looks pretty good on the screen is really based exclusively on debt – government debt, also corporate debt and even now some growth in mortgage debt.” ~ Jeffrey Gundlach, CEO Doubleline

Fixed Income

Commodities

Equities