"The U.S., in fact, is a serial offender, an addict whose habit extends beyond weed or cocaine and who frequently pleasures itself with budgetary crystal meth. Uncle Sam’s habit, say these respected agencies, will be a hard (and dangerous) one to break."CNBC NetNet
US Is Debt Addict on 'Budgetary Crystal Meth': Gross
Jeff Cox | Senior Writer
BTW, this is quite an accomplishment of Perot, yesterday's award winner, and Gross today. It's difficult to win a Crackpot Award these days since the bar has been raised by intense competitiveness.
The other explanation is that Perot and Gross are getting senile, which technically is not cheating as far as the Crackpot Award goes, but it does give one a leg up over the competition.
But don't take this the wrong way. This is not a personal attack. I rather like both Perot and Gross as individuals. They've just lost it over this matter. Perot could be excused since it is not his field professionally, but it is Gross's field of expertise and he should know better.
But don't take this the wrong way. This is not a personal attack. I rather like both Perot and Gross as individuals. They've just lost it over this matter. Perot could be excused since it is not his field professionally, but it is Gross's field of expertise and he should know better.
2 comments:
Yeah, Bill Gross seems to be going off the deep end. Keeps revealing what he's using?
PIMCO is apparently going gold.
This at ZH
PIMCO On Gold - The Simple Facts
Via Nicholas Johnson and Mihir Worah of PIMCO
One big problem with the gold is that it is a thin market, so that most of the trade runs one way for awhile, it becomes a difficult market to clear when everyone runs to the other side of the trade at once as price declines. The makings of another bubble? Looks to me like it although hard to say when. I think there is upside left and it could be significant. It's a market for nimble traders, not a place to park funds.
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