Fox Business: The 'Bond King' Warns US Consumers are Headed Down 'A Death Spiral'
Article by Kristen Altus in Fox Business
In an exclusive interview on "Mornings with Maria," Wednesday, DoubleLine Capital CEO Jeffrey Gundlach – better known as "The Bond King" – cautioned of a weakening economy in 2024 and Americans embarking on a "death spiral" over their personal finances.
"I think that everything but employment is showing stresses, and it's been going on for a while now ever since they did the stimulus," Gundlach told host Maria Bartiromo. "I think that's because the government response was so ridiculously outsized. It was really the 2021 free money that is puzzling because it brought on inflation, which anyone sensible, you should've known that it would."
"But the consumers have ramped up their credit card spending tremendously to fill that gap, which is ......