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Bill plays the fascist fiddle as well as anyone.
14% interest rates
0% real rate
Bill makes it sounds like pick-pocketing, but inflation won't stay at those levels in perpetuity.
Your right, Zimbabwe Ben can kick this pig into at least 3 digits no problem. If he really wants to hear the roar of the press maybe well get 4,5,6 digits. Havenstein used to brag about his printing operation. Wonder if Ben will brag about his computer scientists making an system that goes past quad precision floating point to keep track of the money supply.
0% only if the IRS indexes capital gains to inflation... which they don't.
Its a lose-lose for everyone.
What about poor Dicky Fould, his faith in the banking system must be completely shot...
He's a virtuoso, it seems. I now fully understand and support in a very big way Tyler's seething disgust for the snake. What a despicable creature.
Why is Gross saying this at this time? What is his angle? How does PIMCO profit or position itself through these statements?
Insiders like Gross don't go against FedSpeak, which would earn Bill a tazing if Ben thought he could get away with it, without having some reason for doing it. Why wouldn't he just keep his thoughts to himself?
I agree with Gross - the U.S. will default - but can't figure out why he's speaking out this way.
He just sold all his treasuries, he recognizes the inevitable, and he wants to be on record that he warned of the impending doom and distranced himself from it. Otherwise his reputation would be destroyed in a mid-doom and post-doom world. Enitrely self serving and consistent with everything we know about human nature... basically exactly what we'd do in his shoes.
How entertaining would it be if PIMCO morphed into Berkshire 2 and began with a takeover bid for NFLX, tho?
positioning himself for something that has yet to become self evident or perhaps he's just doing the right thing and little more.
What does Gross hold that would benefit him from touting US default . Come on !, the guys is as much a crook as Madoff . So... his insider positions and benefits aside .
His second reason for speaking now is to start a "movement" amongst the congress crittters to "austerize" the American working class .
A middle class society , having FOLLOWED the example of spend beyond ones means ,set by our doting Parents in Washington , have merely preceeded the parents fall .
Unserviceable debt !
Good question. This is what is commonly referred to as being the "bagman" or a messenger. Effective expectations management is crucial to a smooth transition to the new global basket/SDR currency.
No one will be surprised by the self-fufilling prophecy. This is Pygmalion central banker version. PIMCO will receive special consideration in the form of a warning prior to the flipping of the global reset switch.
I've got an idea.
How about the Fed allow each individual American to borrow
up to 1 billion dollars at a ZERO percent interest rate?
How about world wide reset button.. All debts wiped.. everybody takes in a japanese family and re all rive happiry ever after..
lets import the Japanese and export the illegals to Japan. many problems solved.
Wouldn't work, you just end up with a bunch of Americans, all $1 billion in debt...
What do you do when you've all spent it?
on a pint of milk...
A better idea would be to just GIVE me $10 billion, or so, and you lot can all go back to work.
I'm sure I could find something to spend it on that creates jobs...
I know, gold. I would need TV cameras which require electronics for surveillance, security guards who buy food, transport from GM, keeps the govt happy don't you know...
I could go on....
Oh, and a Maclaren F1, two actually, one for each foot...
This new job's sounding better by the minute...
ok, we can swap the Maclarens for a fine pair of Bristols...
if anyone's got any...
Bristol City, as in Fine Titty;? Cockney slang?
Bristol cars mate, classic...
I read somplace that president bj lewinski had created a supply of tungston core gold bars, perhaps you too could create some more of these and through your initiative, sell them at a 5% discount to spot. you would get good biased press miscoverage too.
Even at 0% interest, I think I'll pass.
Let's see, at $100/month, how long would it take to repay $1 billion.
Umm . . . 10^9 divided by 10^2 . . . ummm . . . 10^7 months.
That's . . . ummm . . . 833,333 years and 4 months.
Nah. There's gotta be a better deal out there somewhere.
there is. Take the money and go find a hedge fund. Leverage up a few times, take your stash out and go buy building number 666 in NY.
Then bugger off with your cash and watch it all go bang...
It's good for GDP, builds character...
Isn't that the Marvel Comics building?
First thing i'd do is fire Brian Michael Bendis,
he's like the modern day Jim Shooter.
666 Fifth Avenue building...
The front page is reading like an epitaph for the neo Keynesian system.
We do appear to be there. TPTB will stay in denial of course.
if you are right, then a new game is about to begin. or has it already started?
We can't attack entitlements because that is racist.
haha +5. that shit's hilarious.
+500 trillion unfuded, fuck it.
What comes after trillions? Bet we find out.
The Q in QE stands for quadrillions female dogz
After all, in this bizarro world absolutely everything is now priced in.
After all, in this bizarro world absolutely everything is now priced in.
I feel like I'm in a Hieronymous Bosch painting. I couldn't bring myself to read the tripe, even if only excerpted, from Shrill Bill.
It's a bit like living in Coronation street, where everything is planned for you, every crisis, every scandal and every bit of good luck...
and the best actor on the set is the budgie...
No, it isn't. It isn't a damn bit like Coronation street. It's a lot like a Hieronymous Bosche painting, and you'd better start taking it seriously.
what art or crashing bond markets?
Hieronymous Bosche sounds like Parsimonious Bitch,
How uncanny is that...
We had the Opium Wars with China. Now bring the Dollar Wars with China. This time the Chinese will win, afterall, the Chinese love the colour red, as in red buttons.
Everything is priced in...until the gap the next day, then it is because of whatever the media's flavor of the day is.
Chances of entitlement reduction, about 0%. Chances of default on the debt via monetization and devaluation, about 100%. Funny thing old people vote. Much easier to keep them watching Dancing with the Stars and having Zimbabwe Ben wizard the money into existence. At least then can pull out the boogieman of "Evil Speculators". But actual cuts means it might get reported on and some blue hairs might read it. Not going to happen. If WI taught us anything is here in America we don't handle even tiny cuts well.
I can picture it now...
A "million man" HOVEROUND march on Washington DC... - ror
Evil speculators were all the rage in 1979, when president Nixon decided to punish the dollar detractors by selling a shit load of Gold from Fort Knox; this failed; and nothing more was heard of the evil dollar speculators; look it up, it's a real tour de force of idiocy played out on the stage of the world.
Most of your post I agree with. But not all of us "bluehairs" watch the boob-box, some of us aren't even senile yet.
I know my memory's still sharp because over on that corner was nothing but open desert. Across from it was one big-assed turkey ranch, and where that buncha stores are was the one house that had six girls between the ages of 15 and 19 and extremely friendly.
Used to walk the three miles from high school to the junior college and then at 10PM hitch-hike or walk the twenty five miles back home, praying to see a damned car come down the road. Not like now, where there's a shitload of cars all day and all night. I found this big fucking patch of cholla cactus quite unexpectedly on night walking home from somewhere as I took a moonlit shortcut across the dry lake and ......zzzzzzzzzz
You must have been in Utah
if that is true then the USA has become the USSA. now where was that slope the korrupticians slid down...........
pepe shouldn't have to stand for that libel. gross should be getting a cease and desist odor from pepe's legal team soon.
That highlighted part stinks of: "I was wrong last time... NOT this time! I'm going to get the goddamn collapse of the dollar right this time."
Jesus, even today Tyler you posted about concerns from countries (think during your bit on the recent Budget Deficit being passed) about our ability to repay the existing debt, and if we even would. That's existing. Not unfunded liabilities.
Or he finally saw meltup. Or read ZeroHedge. Or pulled his head out of his ass. Or... pulled his... head out of his... ass?
right and as soon as Bush or any conservative attempts to reform SS or social programs Bill Gross is writing checks to Soros to slander the attempts to fix things
SH'nTF epically right now. Boy do I have some reading to do. Looks like I will be on here for awhile. Thanks for all the work you do, guys and gals. Big ups Ty guy.
The U.S. can easily grow its way out the current morass by eliminating income and payroll taxes on adjusted gross incomes below 150K for two years and instituting a 20% surcharge on all incomes above 150K with a 2% annual wealth tax.
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