Jeff Gundlach just hosted a webcast with clients. The title of his presentation: "The Decline and Fall of the Roman Empire."
Not surprisingly, Gundlach drew parallels between the U.S. and Ancient Rome. Like the U.S., he noted that Rome had an insufficient tax system and a huge military budget.
Like Rome, the U.S. faces "persistence of a destitute underclass," as reflected by the excruciatingly slow job recovery.
Gundlach's talk included commentary on the year-to-date performance of markets as well as his outlook for the rest of the year. He also alerted holders of Bank of America stock to sell immediately.
As usual, Gundlach's presentation has all of the most important financial and economic charts you need to understand the world.
