FILE PHOTO: Jeffrey Gundlach, CEO of DoubleLine Capital LP, presents in the course of the 2019 Sohn Funding Convention in New York Metropolis, U.S., Might 6, 2019. REUTERS/Brendan McDermid/File Photograph

(Reuters) – U.S. progress seems to be based mostly “completely” on authorities, company and mortgage debt and the financial system would have contracted if america had not added trillions in debt, Jeffrey Gundlach, chief govt of DoubleLine Capital, mentioned in an investor webcast Tuesday.

“Nominal GDP progress over the previous 5 years would have been adverse if U.S. public debt had not elevated,” mentioned Gundlach. “One factor all people appears to overlook…

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