Posted on 06/30/2008 8:47:42 PM PDT by Kozman
Say what? Don't we have an election coming up first?
Bill Gross, Managing Director and Chief Investment Officer of PIMCO, one of the largest specialty fixed income managers in the world, with more than $800 billion in assets under management, is obviously taking Obama Kool Aid intravenously. Yes, directly into the veins.
In his July, 2008 Investment Outlook report, he writes an open letter to Obama titled: Dear President Obama. The letter vacillates between bad economics and fawning over Obama....
He endorses Obama's call for higher taxes...
He endorses government healthcare meddling and calls for more government meddling in mortgage crisis... he calls on Obama to...increase the deficit by $500 billion, to a trillion...Amazingly, this Kool Aid drinker does understand the destructive impact of what he is proposing:
"A trillion dollars of government deficit spending is potent medicine. Its potency regarding inflation will not be felt fully during the peak deficit period. Rather, inflation will accelerate during the subsequent recovery..."
(Excerpt) Read more at economicpolicyjournal.com ...
...Needs canned. Now.
Bill Gross revealing his Newport Beach, rich man’s, white liberal guilt complex.
***ECON LESSON ALERT***
Higher taxes = slower or zero economic growth= lower interest rates =higher bond prices = higher income for the Pipmco investment company. Follow the money. Plus he’s a raging liberal hippie.
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