Tuesday, July 7, 2009

Wow, PIMCO head says: "If you're optimistic about near term investing, you're retarded"

In so many words... I extrapolate, but the punch line is unavoidable:

Do you really think that a national health care program can be paid for with cost-cutting as opposed to tax hikes at insurance companies and benefit-paying corporations throughout all sectors of the American economy? The new normal will not be investor-friendly unless your forecasting dial is turned to “Pollyanna” or your intelligence quotient is significantly less than 100.

Source: PIMCO's Bill Gross: "Bon" or "Non" App├ętit?

Be afraid, be very afraid.

A note about the title and the content of the quoted block:
I take no political stance in this blog for a good reason, the article quoted here is by a man who admitted to be a supporter of current president. Please refrain from politically oriented statements in the comments as well. This blog is for all, and I don't want the crazies looking out for me from any side.

Also, I mean no offense to people with disabilities, I extrapolated the delicate wordsmithing of the original author

Where's the economy headed?

No not there, this is where we are already at. The big question is, will we get out of there by digging deeper in the slime.

P.S. - Also in the related commentary, very relevant quote for this blog:

he supersizing of financial leverage and consumer spending in concert with the politicizing of deregulation describes in fifteen words our most recent brush with irrational behavior and inefficient markets. Greed will come again. But for now, the trend is the other way and it promises to persist for a generation at a minimum
Again, in other words: "Thrifty Trend Is Upon Us"!

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