“Jeff Gundlach, president of DoubleLine Capital and whom CNBC refers to as the ‘Bond King’, tacitly backed that reasoning recently by pointing out that using ‘true accounting,’ the U.S. government’s deficit is closer to USD $6 trillion. … The idea that U.S. government data could be less accurate than much-maligned private sector accounting seems rich. After all, governments claim that their regulatory oversight is crucial to keeping businesses in line.”
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