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Bill Gross' World View In Four Words
"Tough Slog" or "The Unimaginable"
Gross: The world looks 4 a new Keynes but w/ hi deficits & 0% rates there is only a long tough slog ahead @ best & the unimaginable @ worst.
— PIMCO (@PIMCO) April 21, 2013
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Draghi could be such a figure cum May 2nd.
"Tough slog" or "the unimaginable" -- for Bill.
For the rest of us, it'll be the "tough unimaginable."
Thanks Bill
now go buy that $7 million stamp you have been lusting after
or Jen's house
http://realestalker.blogspot.ca/2011/06/update-jennifer-aniston-lucky-la...
(opps you already did that)
Is "tough slog" or "the unimaginable" the case in which I get a pony? That nice African American man riding the Skittles-shitting unicorn said he was going to make things all better with his hope and change. Now where's my damn pony?
.http://blogs.wsj.com/marketbeat/2011/07/05/bill-gross-buys-jennifer-anis...
Seriously...
Why the fuck would anyone in their right mind want to live in a narcissistic madhouse like Beverly Hills?
That's a big character flaw shining through IMNSVHO.
What's so "unimaginable" about a world where we each earn our own keep? Fuck this unsustainable status quo system already!
good luck with posh when south central decides it needs a better view in the banker's new normal.
El-Erian > Gross, nuff said.
Writing is so terrible these days.
Victims of tenured, unionized education.
Not much of a tough slog there. Most people would love to be able to buy a $23 million dollar property and tear down an 11,000 square foot house because it doesn't fit the decore of the property.
Hoof, you'll just have to do with an YommaPhone like the rest of... er,
Hey! Where's My fucking phone, people?
Dude, I was supposed to get a phone too?
I haven't been walking around with my hand out enough. I've been too busy working my damn ass off.
That's why they front run the mortgage market ...
Fuck those hypocrits.
unimaginable bitchez.
You forgot the "!"
His name is Weimar.
better 4 words..... WE ARE ALL FUCKED
Oh, a billionaire's commiserations.
I don't think he's referring to himself in the "we" anymore... except for the sales marketing of it all.
Get Mohammed over for some BBQ ribs on the patio, dude.
No no no, Bill. You gotta put the apron on with a can of Schlitz, do them yourself, basting with Ketchup and hot sauce... no, no cooks and maid. Just you and Mr Dingdong...
two words say it better: we're fucked!
Yeah, hate when that happens.
4 even better words: GOLD SILVER PLATINUM PALLADIUM!!
Fuck You Mr. Bernanke (trying to be polite with the "Mr.").
<--- Dollar hyperinflates until its value = 0
<--- Dollar deflates until quantity in existence = 0
I voted hyperinflation, because that's what i see at the supermarket. Same bag of groceries in 2006 cost me half of what it does today in 2013. Half. But there is deflation because we are making less, and money harder to come by in the future. So you need a stagflation vote.
Inflation is heterogeneous. Some sectors see prices go up more than others. Mis-allocations of capital occur as price signals get messed up. Contrary to what the Keynesians think, demand is actually practically infinite. What is needed is supply; purchasing power. I believe it's Say's Law that states that people pay for goods and services with other goods and services. In other words, 'demanders' have to supply something of value, too. Handing them a bunch of freshly printed Benjamins instead of legitimate capital/valuable items means that signals get distorted and people believe there is more savings (foregone consumption) than there actually is, and they prioritize accordingly and start on projects not warranted by the actual amount of capital. Those 'demanders' who have nothing but new Benjamins are not supplying real value; they're supplying what is perceived as (for awhile) a claim on value, but it doesn't take long for this to get exposed, and then people start trading out of all that 'paper capital' for real assets.
Ignoring prices for a moment,
If x = number of dollars in existence, will it ultimately approach infinity? Or will it approach zero? On a long enough timeline...
I'm awaiting the bizarre day that a good or service costs more dollars than exist.
Whatever. A month ago he was pimping junk bonds.
As brilliant and successful as Gross is, he is just soooo conflicted about Keynesian Economics. He can't quite see that creating air-backed currency units and ever-expanding debt that is never intended to be repaid is a form of embezzlement of private wealth to the advantage of government. Depending upon the interviewer, he either frets about the dangers of expanding the money supply or the horrible things that will happen when the money supply is not expanded enough. Maybe he is fooled by the fact that all his friends and people in power think that there is no moral or economic consequences to such massive money-printing or from suppressing the time-value of money to near zero. But there will be and there is.
Ya know, I'm not sure that he's intellectually confused, but more conflicted.
He's a bright boy. But take a look at his power base. It's inside the agencies, Treasury and Fed, especially when Paul McCulley was still there.
He's probably gotta be reasonably careful about biting the hand that feed him inside poop, so to speak.
Another unimaginable thing is the never ending winter in the midwest, Damn near Ragnarok.
Sure, it is fly over country to many, but if the farmers do not get in the fields due to snow, freezing temperatures, or flooding, food may cost just a "bit more" this year.
Or, eliminate the small farmers, and I am sure that the corporate farms will have everyone's best interest in mind.
+1....It snowed so hard here yesterday I couldn't see the lake...
Our weather has gone full retard.
Yulp. Southern IL near KY here, just had another overnight low below freezing following several days of rain. It snowed upstate.
I had a conversation with Miffed about collecting wild mushrooms. Ain't gonna happen until May this year...
About the only thing I miss about Illinois, Morel Mushrooms.
I hate tough slogs...they get caught in my throat.
The unimaginable sounds pretty good to me; it being unimaginable and all......
I'm having a little trouble envisioning the unimaginable...
Ye of little imagination....
Obviously the world is out of whack. Europe and Japan have too many elderly to be stable. China a population time bomb with too many people getting old and the natural resources don't correspond to their population. India has young, but it is way overcrowed. The middle east has not addressed growing outside of oil.
Africa could grow, who knows? Russia could survive with a huge population influx and with global warming. South America and Mexico could do well with the institutions becoming better. The United States and Canada have a lot going for them, but the debt has to be inflated away which means taking money from the rich and giving to the middle class.
Overall governments have to stop supporting the nonproductive so much, but democracy means it the voter will probably keep voting goodies for the productive. What do the nonproductive have to lose by voting themselves goodies.
The Mideast can't address growth outside of oil because the West will stomp them if they do. There's a reason we prefer arrangements like the House of Saud to democracy.
The old countries can deal with those problems by immigration. China's main demographic problem is all the missing women in the 10-30 year old cohort. The gender ratio is actually getting closer to normal among current births but it's probably too late.
"Overall governments have to stop supporting the nonproductive so much"
You mean like Goldman Sachs? I agree. How about if we stop creating conditions where we create so many unproductive? Do you think people graduating with college degrees or MBA's choose to be unemployed or work as bartenders? Do you think some black kid in a project whose mother had 5 kids by five different fathers by the time she was 20 years old to collect food stamps, AFDC and Section 8 housing has a chance to get a meaningful job in an inner city-growing up in a government project where 50 percent of the black males under age 35 are in prison, on probation or parole?
We need to quit creating "unproductives" as a matter of official government policy. And we need to employ these "victims" of government rather than bringing in tens of millions of illegals from Mexico or the hordes of legal immigrants we bring in from third world countries--the plan since the 1930s by treasonous elites (see Antonio Gramski, Marcuse and the other Jewish intellectuals from the Frankfort School) has been to transform and take over America by destroying traditional Family, Christianity and homogenity of our culture. It's probably too late -now we have false flags happening regularly as the elites now intend to destroy the Second Amendment , disarm us and consolidate the police state as we descend into a permanant Orwelian feudal society.
Master Pimp of all things Paper.
Actually, the world looks forward to honest bankers and politicians.
Gross isn't conflicted. However, he must play by the rules of the game, and that means he has to buy what the Fed plans to buy.
Brilliant deduction Bill. You must be a clairvoyant. /sarc Thanks for telling the readers of Z/H what we've known for quite some time. Get ready for the Brits to join the printing to infinity club asap. IMF steps up call for Osborne to slow down austerity plans as row escalates - Telegraph
This UK austerity idea is completely misleading. The is NO austerity within government or government protected quangos and monopolies, they are spending like drunken sailors with a borrowed wallet.
The austerity is the pain being inflicted on households, especialy working households. Cammeron and Osbourne have introduced 299 new taxes since coming to office. There have been some headline seeking, miniscule cuts to a handful of welfare entitlements, but we are talking peanuts, not even a tiny dent in the defecit.
Ian Duncan-Smith (misister for work and pensions) has openly admitted that attempts to trim the welfare budget have been abandoned, it is now a question of trying to manage the growth of the problem !!
So well done government ; you came to power on a ticket that promised to tackle the defecit, make the tax code more simple and fair, promote job creation and reduce red tape. EPIC FAIL on every measure, the defecit is going to have DOUBLED by the end of this parliament.
The fact that Cameron and Osbourne are both privately wealthy and enjoy family assets kept outside the reach of their own tax inspectors is hilarious - where is the ANGER in middle England? I dont see it. in fact the only form of protest that ever gets airtime here is welfare recipients wanting more.
We are fucked. May as well get it over with and call the IMF in right away and line us all up for shackle fitting.
Thanks for the insightful post reload. Much appreciated.
A good form of protest is voting for Nigel Farage and the United Kingdom Independance Party (UKIP).
Gotta do some good just to get the other assholes to take notice. Or maybe the revolution will put UKIP into at least a balance of power position.
Liberal/Labour/Conservative are actually all the same party now.
+100
I couldn't agree more.
I can only wonder how much more of a shambles Red Ed Miliband and Balls would have made of sorting out the crises they themselves caused.
What he's actually saying is there are decades of misery ahead (the tough slog) and that's the optimistic case.
The negative case is warfare of the traditional sort, with raping and pillaging, or of the nuclear sort with billions of deaths.
There's nothing better. The numbers don't allow anything better. 17 Trillion is definitive.
Fool me once, shame on you, twice shame on me, three times...well you cant fool me thrice.
Unimaginable - go look at what Athens as a city is like and get an idea.
I fear that the haves and the have-nots are just not going to get along any more.
I fear that the haves and the have-nots are just not going to get along any more.
Agreed,esp when they come to repossess the BMW's and Benz's from the SNAP/EBT tards I see driving all over every day.Knowing full well the coins for those pmts are Fed gimmes.It's way past a damn farce.
That is why the haves carried out so many false flag attacks, in order to prepare to impose democidal martial law on the have-nots. The standard soft-kill strategies, as relatively successful as they were, as not enough anymore.
What might be unimaginable to a middleman might be satisfyingly imaginable to me.
Kinda sounds like an American Greed episode in the making...
Really, Bill goss pulls down this kind of coin?
Sounds Billy Madoffish too me.
Just saying.
Back to the Bunker.
I'm thinking you're fucked is more like it for most of us plebians.
Bill Gross, a prepper with a bug-out yacht. Cool. Watch out for pirates and boating accidents, Billy.
Whats with the double photo of Gross and El-Erian? Like, do they share this twitter account, and both have a way of logging on? Seriously..
This guy has to be scared out of his mind with the Central Planners essentially promising decades of 0% (ZIRP), as in Japan. It will be tough for Pimpco to pimp 1% bonds to the muppets and still buy luxury real estate across the globe.
This guy has to be scared out of his mind with the Central Planners essentially promising decades of 0% (ZIRP), as in Japan. It will be tough for Pimpco to pimp 1% bonds to the muppets and still buy luxury real estate across the globe.
His worries need to be concerned on when the Unimaginable, comes and seizes all his properties.If he had half a brain his arse would be building one fortress WELL outside the giant turd rolling this way.His blillions won't make a tinkers damn.
http://research.stlouisfed.org/fred2/series/GFDEBTN/
Federal Debt: Total Public Debt (GFDEBTN)
2012:Q4: 16,432,729 Millions of Dollars
http://www.scribd.com/doc/137226599/total-u-s-public-debt-u-s-department-of-the-treasury
U.S. National Debt Clock : Real Time
http://www.usdebtclock.org/
Any such "long tough slog" must presume it is possible to resolve runaway exponential growth problems with more hard work, especially if guided by the "right choices," with respect to "creative" ideas, which STILL stay within the frame of reference of the established systems.
My macabre sense of humour finds that laughable. The future is obviously going to be "unimaginable." Exponential growth is going to continue to overshoot, as far as it possibly can, whereupon, there will be collapse into chaos of equal proportions to the insanities of the exponential growth that drove that condition to develop, until it went past human control.
Anyway, it is already past human control that the established systems evolved on the basis of things being controlled by the people who were the best at deceits. The banksters, who are Kings of Fraud today, already almost totally dominate the established systems, BUT, they have still lost real control over those systems which they originally made and maintained. Their systems of legalized lies, backed by legalized violence, automatically become more psychotic. More competent technology only amplifies the basic insanities of controlling things through systems of legalized force backed frauds, since the force can never make those frauds become true, but only keep driving those systems towards madness and eventual psychotic breakdowns, the other side of which are unimaginable!
Both our human ecologies, and our political economies, developed inside of the same military imperatives. Everything we are doing is controlled by huge lies, backed by lots of violence. Those who were the best at operating inside of those systems dominate them, but the fundamental structure of those systems is inherently insane, since each increment of "success" operates within the context of even bigger frauds. Any more radical truth about reality is therefore "unimaginable," since the necessary corrections to the excessive "success" of the established systems can not operate within the frame of reference of those systems.
There are reasons innate to the nature of life why deceptions played such important roles in the selection pressures which directed the development of our civilizations. The profoundly paradoxical nature of those problems enabled there to be social systems which plunge through almost infinite tunnels of deceits, where we live inside of Bizarro Mirror Worlds, being reflected back and back at each other.
Someone like Bill Gross has personally developed to be able to live in one of the steering turrets of the machinery of the established fascist plutocracy juggernaut. "BONDS" are debt slavery instruments. That debt slavery has runaway to become debt insanity. The ways that the bond markets operate debt controls in our civilization are backed by the ways that our death controls operate. Those doing that do their best to deny those social facts, and they are exceptionally good at that, since their careers have selected them to be excellent professional liars and hypocrites, who have managed to rationalize those systems of organized lies and robbery, and they are well rewarded and reinforced for doing so.
The problem that is truly staring us in the face are that money is backed by murder. The only sufficient creative solutions must be real, radical, revolutions, which are necessarily unimaginable to us at the present time. Since our established political economy and human ecology systems are based on the history of triumphant deceits, enabling their dishonesty to prevail, there is nothing within those systems that will admit and address their actual problems. The only possibly "successful" politicians are puppets that operate within those systems, who excel at the kinds of bullshit that system requires, while the highest level judges become superstars of that kind of hypocrisy, etc. ... Similarly, successful businessmen and traders have adapted to become "successful" within a fundamentally fraudulent financial accounting system.
Everything truly successful was based on creative breakthroughs, through radical paradigm shifts in science and technology, powering up people by trillions of times greater than anything ever before in known human history ... However, our psychological attitudes and social habits continue to cruise on automatic bullshit about themselves. The basic human ecology system is the same old Neolithic civilization style of a social pyramid system, in which the vast majority are Zombie Sheeple, while the ruling classes are Vicious Wolves. All of the most important problems are human ecology problems, which are currently trapped in that spiral of legalized lies, and legalized violence, keeping them going and going ... All of our political economies operate within that context, being run by Wolves in Sheep's clothing, and so, have been done by being the best at lying about what was really happening.
Of course, the flow of energy is not going to stop. Human civilization is an energy system, which has the potential for even more astonishing creative breakthroughs. However, the crucial issues with respect to the human energy systems are that those have been controlled by their most labile components, namely the people who were the best at backing up their deceits with destruction. Furthermore, that is built right into the foundation of any possible human energy system reality. Therefore, what is now unimaginable is how we are going to adapt human civilization to having powers which are trillions of times greater? A global system of electronic fiat money frauds is operating our economic decisions. The people who benefit the most from that have every intention and advantage to maintain that system, within its own frame of reference.
We have managed to channel science and technology into becoming many orders of magnitude more able to back up fraud with force. However, since almost everybody doing that operates within those systems, and takes them mostly for granted, while discussing them with each other through the means of an almost totally bullshit language, we are way too far away from being able to work through some tough slog, to any saner solutions.
There are no other possible solutions than real, radical revolutions. While that is theoretical possible, it requires that we continue to plunge through and through the infinite tunnels of deceits which are operating the currently established systems, and therefore, the outcome of the future evolution of our human ecology/political economy, or murder/money systems, IS unimaginable, and most probably worse. THERE IS NO HARD WORK, NOR RIGHT REFORMS, NO MATTER WHAT THAT LONG TOUGH SLOG MAY BE IMAGINED TO BE, WITHIN THE ESTABLISHED SYSTEMS, THAT COULD EVER FIX THEIR PROBLEMS. ONLY CURRENTLY UNIMAGINABLE CHANGES COULD BE SUFFICIENT, BUT THOSE SEEM IMPOSSIBLE UNTIL AFTER THE MADNESS OF THOSE CURRENT SYSTEMS MOSTLY DESTROY THEMSELVES.
The genuinely valid questions are what might the seeds of some new systems be, that survive through, and whether it might be able to do things that mitigate how bad that future is going to become, so that we could emerge into some new systems on the other side better. The only valid sets of solutions are unimaginable, because they MUST resolve the problems of weapons of mass destruction, emerging inside a globalized Neolithic civilization, whose basic structure is deceits, backed by destruction.
There is no possible long tough slog to solve those kinds of problems. Only some unimaginable Translithic civilization is possible, to attempt to comprehend how human beings could become many orders of magnitude more powerful, and somehow that also enables them to actually use similar orders more of information, through a higher consciousness that understood itself more profoundly.
In the end, that MUST be some system of artificial selection, where the murder systems' death controls are crucial. THAT is what we already have actually emerging ... However, it has developed through its own logic to become the best at lying about how it does it. Paradigm shifts do not change what actually exists, only the way that we perceive that, which then enables different behaviours to be guided by that radically different world view.
The apparent real future is for us to get more and more bogged down in a long tough slog, that always automatically gets worse. Any genuine solutions to that appear unimaginably impossible, since those appear not possible until the madness of the current systems of legalized lies, backed by legalized violence, have driven their own madness through to some significant degree of collapsing into chaos.
Nothing less than more radical truth can possibly provide better resolutions to the problems of the exponential growth of triumphantly runaway force backed frauds. Although there are plenty of creative alternatives possible, the core of those must be some alternative death controls, and THAT is what then plunges us even deeper through the expanding tunnels of infinite deceits ...
AFTER radical paradigm shifts in political science became wide-spread enough, THEN we might be able to work through a long tough slog towards a better ecological and economic systems. However, within the currently established social pyramid systems based on deliberate ignorance and fear, being amplified trillions of times by science and technology, there are NO solutions ... One way or another, sooner or later, the apparently most probable future MUST be unimaginably worse. The only relatively better alternatives to the worst are better systems of death controls, backing up different systems of debt controls.
The chronic political problems inherent to the nature of life are NEVER going away! As long as any human beings survive, then we are still on the path towards some system of artificial selections which are more conscious of the systems of natural selection. To the degree that we refuse to do that, since we are too tangled up in the past triumphs of deceits being the ways that we actually did those things in the past, then we MUST be headed towards more genocidal wars, along with democidal martial law, as the unimaginable worst.
Rational expectations aside: George Soros gives an off the cuff rant at his INET that if speeded up 5 times could compete directly with PSY's new rap tune.
http://youtu.be/Ru3Ex8IITLQ?t=1h5m22s
I hate twitter.