9. Bill Gross: Damages are accruing (October 2012)
In this investment outlook, PIMCO Founder Bill Gross revisited his “Ring of Fire”—a list of countries, including the United States, whose public debt had the potential to exceed 90% of GDP within a few years.
And although Gross maintained that he “[doesn’t] believe in the imminent demise of the U.S. economy,” his predictions weren’t overly rosy. “If we continue to close our eyes to existing 8% of GDP deficits…” Gross said, “then we will begin to resemble Greece before the turn of the next decade.”