An inefficient, weak tax system. A bloated military budget. Multiple wars being waged simultaneously.
You can excused for thinking the above sentence is about the United States, but in fact, it describes the Roman Empire two millennium ago as it began its long, hundred-year decline. Jeff Gundlach, CEO with DoubleLine Capital LP in Los Angeles, used the parallels between Ancient Rome and the U.S. to frame his latest webcast this week.