…Bill Gross, the most powerful bond manager of his generation and co-head of a $2 trillion investment management firm… rankled a few of his peers and clients in the fall when he joined a growing chorus that is raising caution flags about America’s widening disparities in income and wealth – as well as the current state of the capitalist system producing them.

As he surveys the past 30 years of the system that made him one of the world’s richest people – and the 55th most powerful person on the planet, according to Forbes – the glaring income gaps are approaching a breaking point, he says.

“We’re not just experiencing a new Gilded Age, but a Bitcoin Age,” says Mr. Gross, referring to the digital currency. “Artificial money, corporate K Street, and Wall Street interests are producing one world for the rich and an entirely different world for the working class,” says the founder and co-chief information officer of PIMCO in Newport Beach, Calif

Via The Christian Science Monitor

Posted by KWB wandering among the borderlands of the Ether.