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Gross: Economy Can't Survive Much Higher Rates

During his keynote presentation at the Morningstar Investment Conference, the PIMCO manager made the case that high debt levels and a need for financial stability mean that central banks should keep real rates close to zero for some time.

Bill Gross: I'd put these [sunglasses] on this morning. Actually when you're 70 years old, you need things. You need props. Even guys need a little makeup and stuff. And so I put these on, as I was getting dressed, and I said, man, that's a pretty cool-looking dude.

I said, I need at least one moment to see myself on the big screen. So, there I sort of am. I can't see my notes, and I'm not really Hollywood so. But there you go.