The number of people receiving disability and food stamps in America has finally flattened out in the last year. On a more encouraging note, the number of businesses saying poor sales is their biggest problem has fallen to 10%.
But walk into a Walmart or other retail establsihment in America today, and one will see many 60-somethings working in jobs teenagers and college students used to hold. Gundlach said they can thank the Fed for not being able to retire.
The good news regarding a huge percentage of junk and Treasury bonds (sold during the huge deficits created by the Great Recession) is that they won't need to be refinanced until 2019 or so. The bad news is that's precisely when all the proverbial problems from Social Security, Medicare, Medicaid and Obamacare will hit the fan.