In his latest just released monthly letter, Bill Gross lays out the global economy as an analogy to Monopoly where the narrative only works if everyone gets $200 in cash on every rotation around the board.

It’s the $200 of cash (which in the economic scheme of things represents new “credit”) that is responsible for the ongoing health of our finance-based economy. 

Without new credit, economic growth moves in reverse and individual player “bankruptcies” become more probable.

Zerohedge 6 July 2016