Thursday, June 4, 2009
Pimco's Gross: Maybe Obama Should RAISE Taxes
Comments on this article from Warren Mosler (below):
RAISE TAXES WITH UNEMPLOYMENT RISING DUE TO A SHORTAGE IN AGGREGATE DEMAND?
JUST IN CASE YOU THOUGHT THE GREAT MARKETER UNDERSTOOD THE MONETARY SYSTEM!!
(Warren calls Bill Gross "The Great Marketer." A well-deserved moniker due to the success, in size, of his Pimco fund and to his high standing in the media.)
I had Gross on my radio show once and he did not understand the distinction between a sovereign, currency-issuing nation and an individual or a family in terms of finance. He equated them as the same.