Bill Gross' World View In Four Words

Tyler Durden's picture

"Tough Slog" or "The Unimaginable"

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Edward Fiatski's picture

Draghi could be such a figure cum May 2nd.

idea_hamster's picture

"Tough slog" or "the unimaginable" -- for Bill.

For the rest of us, it'll be the "tough unimaginable."

Zer0head's picture

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)

HoofHearted's picture

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?

Zer0head's picture

.http://blogs.wsj.com/marketbeat/2011/07/05/bill-gross-buys-jennifer-anis...

Miz Aniston’s estate was purchased by an entity that calls itself the Banana Trust that links back to the offices of a Goldman Sachs subsidiary in–tah-duh!–Irvine, CA.

We quickly put out a few feelers with some of our most well-informed informants. Within minutes of sending an email we heard back from a plugged-in real estate insider we know–let’s call her Chatty Cathy–who floated the name of–are y’all ready for this?–a billionaire mutual fund manager from Orange County named Bill Gross.

A spin through Orange County property records reveals Mister and Missus Gross own several very posh pads in the OC that include (but are not limited to): An ocean front house in a gated enclave in Laguna Beach they’ve owned since at least 1989; Another, nearby house in Laguna Beach bought in December 2008 for $4,500,000; A cliff side house in Corona del Mar with panoramic ocean vistas he and the Missus snatched up for $8,100,000 in August 2006; A Newport Beach records show was purchased for an undisclosed sum in June 2007; And a perfectly ordinary tract house in an inland gated development in San Clemente they picked up in late 2006 for $1,040,000.

Records show Mister and Missus Gross also own an 11,316 square foot mansion that backs up to the golf course of the Vintage Club in Indian Wells, CA, a condo in Park City, UT and a condo in Cupertino, CA. They also, as per prop records, lay claim to a spectacular 7,091 square foot house on 17 Mile Drive in Pebble Beach, CA that backs up to one of the famous fairways of what is arguably the most famous golf course in all of the world.

Although their property portfolio bulges with extraordinary properties, Mister and Missus Gross’s real estate story didn’t get really interesting until July 2009 when they spent a reported $23,000,000 to acquire an 11,000-plus square foot mansion on the gated Harbor Island enclave in Newport Beach, CA. The couple proceeded to demolish the 9 bedroom and 12 bathroom house but seem to have had a real estate change of heart and just this month flipped the now bare parcel back on the market with an asking price of $26,500,000.

Did Mister and Missus Gross catch a classic case of The Real Estate Fickle with the Newport Beach property? Did they decide they didn't want to deal with the hassle and time involved with building a mansion from the ground up? Or did they decide on entirely different digs, say, a newly renovated move-in ready celebrity-owned mansion in Beverly Hills?

Your Mama contacted Mister Gross's office for comment, confirmation or denial in regards to the purchase of Miz Aniston's Ohana, but have not yet received a response.

 

As for Miz Aniston, well, beehwatcha made out like a bandit. She paid $13,500,000 for the 9,000-plus square foot gated residence in Bev Hills, originally designed by architect Hal Leavitt, on November of 2006. Rumor and report has it she sold for somewhere around $37,000,000 although at one point we we're leaked the number $35,500,000. Of course her profit decreases dramatically when the massive renovation costs and fat real estate fees are considered, but Your Mama would not be the least bit surprised if Miz Aniston walked with ten million big ones.

knukles's picture

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.

flacon's picture

What's so "unimaginable" about a world where we each earn our own keep? Fuck this unsustainable status quo system already! 

Manthong's picture

good luck with posh when south central decides it needs a better view in the banker's new normal.

Reven's picture

El-Erian > Gross, nuff said.

devo's picture

Writing is so terrible these days.

A Nanny Moose's picture

Victims of tenured, unionized education.

moneybots's picture

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.

knukles's picture

Hoof, you'll just have to do with an YommaPhone like the rest of... er,
Hey!  Where's My fucking phone, people?

HoofHearted's picture

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.

resurger's picture

That's why they front run the mortgage market ...

Fuck those hypocrits.

JustPrintMoreDuh's picture

unimaginable bitchez. 

Bunga Bunga's picture

His name is Weimar.

Seasmoke's picture

better 4 words..... WE ARE ALL FUCKED

knukles's picture

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...

 

eatthebanksters's picture

two words say it better:  we're fucked!

deKevelioc's picture

Yeah, hate when that happens.

Investor-1's picture

4 even better words: GOLD SILVER PLATINUM PALLADIUM!!

LetThemEatRand's picture

Fuck You Mr. Bernanke (trying to be polite with the "Mr.").

1C3-N1N3's picture

<--- Dollar hyperinflates until its value = 0

<--- Dollar deflates until quantity in existence = 0

RunningMan's picture

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.

FreeMktFisherMN's picture

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.

1C3-N1N3's picture

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.

Awakened Sheeple's picture

Whatever. A month ago he was pimping junk bonds.

proLiberty's picture

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.

knukles's picture

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.

Uber Vandal's picture

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.

 

Bingfa's picture

+1....It snowed so hard here yesterday I couldn't see the lake...

Our weather has gone full retard.

1C3-N1N3's picture

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...

booboo's picture

About the only thing I miss about Illinois, Morel Mushrooms.

CheapBastard's picture

I hate tough slogs...they get caught in my throat.

A Lunatic's picture

The unimaginable sounds pretty good to me; it being unimaginable and all......

Pool Shark's picture

 

 

I'm having a little trouble envisioning the unimaginable...

 

knukles's picture

Ye of little imagination....

copernicuson's picture

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. 

Tulpa's picture

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.

Savyindallas's picture

"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. 

virgilcaine's picture

Master Pimp of all things Paper.

Stuck on Zero's picture

Actually, the world looks forward to honest bankers and politicians. 

 

Yancey Ward's picture

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.

Yen Cross's picture

      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

reload's picture

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.

Yen Cross's picture

     Thanks for the insightful post reload. Much appreciated.

Anglo Hondo's picture

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.

 

smacker's picture

+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.