Any piece of investment writing that can work in a little Hindu philosophy is worth noting. "Life - and Death Proposition" is the latest monthly newsletter from Bill Gross of Pimco. I guess he sees deleverage and austerity as karma for the bubble. I can't disagree. A delight to see such a philosophical piece from a guy who manages hundreds of billions of dollars. Hope that the flame of intellectual life sometimes flickers reasonably brightly, even on the trading floor.