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Bill Gross said this, HAAA WTF!
Sounds like Bill, has had a Jerry Maguire moment...
Heh, Bill buys crapola thinking there's going to be "shock and awe" next week, then gets the word it's going to be lame. Hilarity (not to mention bitterness) ensues.
clever observation, Zaku.
Actually, reality is beginning to hit home even for Bill. No, not in the pocket book, but the constant visual assault.
There are plenty of 'for lease' signs in CDM, Fashion Island and along the PCH in W Newport Beach. But the real kicker is the slow progress being made in El Morro.
Bill must be appalled by the view, both out his window, and as he drives north and sees the shambles @ Crystal Cove.
What Bill probably realizes is that nowhere will be safe if even protected coastal enclaves begin to look the leeward side of Oahu. There are already fleets of 'bandit RVs' prowling the beach cities.
These guys know what the reality is and they just want to have something they can point to and say they're on the right side of history.
That's what I think too.
His article is actually pretty stupid. Similar to a heroin addict saying: I do this shit and it's going to kill me, but I have no choice, I have to do it. wtf???
Bill loves stamps. Perhaps he dreams of being on one someday. As a tribute to swindlers, or something.
Bill buys based on promises from the originators.
He gets pissed when the promises are broken and no remedies are made to satisfy the losses.
No "shock and awe" next week. They have been too successful with the trickle of POMO on a weekly basis, nudge not shove. Our demise will be like what is referred to as "Chinese water torture" drip, drip, drip.... Death by a thousand little ($1-10 billion) injections.
Unless they have to bail out the TBTF banksters from Foreclosuregate, then they will boost the balance sheet by whatever it takes to save "the system".
I predict a romantic candlelit dinner for two at Moonshadows of Malibu on the PCH. Apologies and promises resurrected.
Taxpayers footing the bill.
Don't forget a promise to buy all the defective MBSs PIMCO bought on margin at a discount for full face value. Kiss, kiss, hug, hug...
Wasn't there already an analogy to a putter? (As opposed to pulling out the oversized driver). God forbid.
Take a break. World Series starts in 3, 2, 1...
Sounds like Bill lit up a big fat one ...
Vote no to everyone and vote yes for PIMCO which supports the FED even though he is telling you it should not, except for the fact that he is frontrunning inside info, so it would be unwise to get off of that gravy train ... hence, vote yes for PIMCO !
Bill Gross is famous for talking his book.
What a piece of horseshit. Attempting to absolve the FED, who own the representatives in government, who dictate there every action in the form of legislation, who run treasury from the comfort of the NYFRB, of all blame and placing it on the Parties they control and from whom we have to pick candidates who speak different dogma, but vote in the exact same way.
The same Bill Gross who picked the tranche components of GS for his profits, who got inside info from the FED on his bond purchases before the POMO game started. Now, he attempts to pay them back with this garbage.
Tyler, I know you try to be fair and perhaps this was just an opportunity to pile on, but what a steamy pile of crap.
The Fed does what it does because our government can't stop spending...the drivers behind it all may be up for debate but if the government lived within its means there would be no need for a Ponzi scheme.
The Fed wants to be dissolved so the SAME owners can then launch the IMF's SDR. Think of it as folding up your small operations in the USA for enhancing your larger operations that encompass the USA, Europe, etc. Call it a consolidation of power by the same owners.
HoneyPot. Reminds me of the movie "Contact" with Jody foster. They made a huge effort to let everyone know exactly where the launch site was. It is attacked by terrorist. Meanwhile the real launch site was in Japan.
Maybe we should buy Yen?
Not exactly. There were TWO "launch sites". The one that was destroyed was not a decoy.
Right. Not splitting hairs, but in IT, honeypots are real computers. Have similar capabilities, costs, maintenance, etc. They just don't have the same mission expectations as the others......
I've always suspected that the FED would be sacrificed, (after it was loaded up with all the criminalbanks losses), to be re-formed under a different guise. This is the first time I've seen this voiced by another.
Also, does anyone know if it is true that the entire banking system can be called upon to make good the FED's losses, by law?
mold in a petri dish can't grow forever, neither can our economy. We might have been able to grow and continue to consume if all the jobs weren't gone, but now that they are, the only way the American worker can compete is to lower himself to chinese slave labor standards. Growth is gone, people don't want to conspicuously consume anymore. the old road is rapidly fading.
Haha, the government has no means save what we allow it.
Wait, that is wrong.
The government has no means save what it forcefully rips from our wallets at the point of a gun.
i know what you're saying though.
Bill Gross is pure bull shit. He's saying the Bond Bubble will end and then saying how it will not end all in the same paragraph. The Bond Bubble will go on for years to come as the Fed continues to print money to purchase Treasury Debt. There's nothing to see here.
What's more interesting to me is Bill Gross's double speak. Why would he say this when he knows he'll continue to make millions going long US G'ment debt? The answer is simple, just like Greenspan Bill Gross has to make himself right with the History books. Bill Gross has to "find religeon" in print. The fact that he's busy sinning his ass off makes no difference to him. If he really felt this way he'd sell everything in the Pimco Total Return fund and put it all on Gold and Farmland.
That's what I was wondering. If the SHTF re: bonds, why not just cash out and return the money to shareholders before the blowup??
Darkmath - Couldn't agree with you more. Actions speak louder than words. He's so full of shit.
how do you spell scumbag? BILL GROSS
tells the fed that if they do not start buying mortgage paper he will dump all his in middle of the crisis, then when they say they will he front runs them and buys more. this guy should be in jail.
Actually he has done a lot to raise the tide for all parties involved.
>> Vote NO in November – no to both parties. Vote NO to a two-party system that trades promises for dollars and hope for power, and leaves the American people high and dry.
Wow, didn't know Bill Gross was a closet TEA bagger. LOL
Glad that he came out. Join the crowd, bro!
2 books come to mind:
1. This Time is Different (Rogoff and Reinhardt) which Gross alluded to in the piece above.
2. Dime's Worth of Difference (documents 2 party failure pretty well)
string this fucker up by his ankles and hang him from the Brooklyn Bridge for high treason.
This guy is one of the most self-serving parasites ever to be hatched on the surface of this planet.
Anyone else notice how Reuters issues a PR today regarding the $1 trillion cash that US companies are hoarding? I guess they have to get the real stories from ZH and BoomBustBlog, because the media is a dollar late and a dollar short everyday. ZH had already reported this several times. Nice Job Tyler and company.
We are you going to get your TV show and put CNBC out of business?
I'd love to see CNBC morph back into what they started out as in 1980's, a CONSUMER AFFAIRS channel ! I remember when they had programming aimed at finding bargains & consumer rip-offs what I wouldn't give to see that damn JOE KERNAN'S smug face gone.
Personally, I hope they turn it into a home shopping channel...
It isn't already?
Selling only toilet paper for there own brand of commode.
It already is like HSN. Touts overpriced baubles with a guarantee of being a great investment. Trouble is, like HSN, they are not liable for their libel.
Kudlow makes me vomit in my mouth.
Kudlow is pure CIA plant.
They (CNBC) are struggling hard today. And it is not just the market drop. Last night Pento was on Kudlow. Nothing new or radical but Kudlow let him talk. That might have been what got Gross going for whatever motive he is trying to play out with this piece. It will probably be cleared up when we see him talk today.
I am so with you on that. To see Kernan's smug, Republican-ass-licking, I'm-so-with-it grill underneath Les Monves' thumb would be worth double his weight in gold. And that's a lot of gold.
Agree, except the media is $2mm short and 2years late.
I saw that too, Jk, and had exactly the same thoughts.....There was no mention of the almost $4 Trillion in debt. Thanks mucho, Zerohedge. My thinking also is that if the corporations do have favorable debt terms and can actually put some of that $1 Trillion excess to use, it sure as hell won't be in US markets. More money heading OUT of US markets. Gross says this in his essay as well.
I am still holding PTRAX as it has been very good to me for a few years now, but once stocks capitulate (sometime before May 1st 2011), and the run to safety boosts PIMCO one more time, I will likely be a seller, eschewing 3-4% returns from PIMCO for attractive valuations in hard asset stocks for the long term. I particularly like Transocean, especially if the lawsuits drive the price down further. 2011 will be a great year, again!!!
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