this is from bill gross, who manages pimco, the world's largest bond fund. it's clear to him that private sources are tapped out. foreign investors and central banks that bought stakes in banks and brokerage houses have been taken to the cleaners. now only the treasury is left to start creating money and even more inflation.

``There is an increasing reluctance on the part of the private market to risk any more of its own capital,'' Gross said. ``Liquidity is drying up; risk appetites are anorexic; asset prices, despite a temporarily resurgent stock market, are mainly going down; now even oil and commodity prices are drowning.''

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