Posted on 05/22/2009 6:26:20 AM PDT by Mozilla
Bill Gross, manager of the world’s biggest bond fund, warned on Thursday the US was “going the way of the UK” and will eventually lose its top AAA credit rating - a fear that had already spooked financial markets on Thursday and could keep the dollar, stocks and bonds under heavy selling pressure, reports Reuters. The US will face a downgrade in “at least three to four years, if that, but the market will recognise the problems before the rating services — just like it did today,” said Gross, co-chief investment officer of Pimco and manager of the Pimco Total Return Fund, which has $154bn in assets.
(Excerpt) Read more at ftalphaville.ft.com ...
I guess bailing out Bill's senior unsecured bank debt has been quite expensive.
We lost the AAA market rating when the Fed starting buying TNotes. No other buyers.
Thie is series.
That’s right. A lot of CYA going on.
What’s going to happen if in four years a presidential candidate asks the question,”are you better of now than you were four years ago?”
I’m winning the powerball lottery tommorrow for 190 million, and I’m having a very hard time deciding how to invest my money. When even treasuries are not a safe bet, and gold has run up so much in price, where can I put my millions?
Denninger hit this one out of the ballpark yesterday.
Thank you Osama Hussein Bin 0bama!
/sarc
Just send them to me.
there will be films, TV programs, front pages all about how it was all Bushes fault and greedy business peoples fault.
feel free to truck some of it to me in cash, I will store it for your for a small fee of 1%, per annum
Three or four years? Wishful thinking. More like 3-4 months. The collapse of the largest independent bank in Florida yesterday (and the mad rush to buy it up and minimize the damage and a potential run on banks) is a glimpse of what is just under the surface right across the country.
At some point, people will start putting blame where it belongs, the failed policies of the Obama Administration. Perhaps that was not the wisest $1 trillion we ever spent?????
This is the CURE, NOT THE PROBLEM, for the completely out of control democrat party corruption.
In a country north of the border. You're just in time too. You can make 25% in a just a few months. The Canuck buck is on the rise again as our dollar flutters, and speculation is it will go well above par this time, so 25% is a very conservative figure. 50% by xmas is possible. Double your money in 6 months.
Then when the USD hits bottom, change those canuck bucks back to USD and wait for the dollar to go up. triple your money in a few years.
Thank you so much for your sage advice. I have read about Nigerian investing somewhere and will look into that opportunity.
I’d buy land, fence it off, and build my own little survivalist bunk... er, retreat. ;)
Bah! Obama will just expropriate it and you'll end up with nothing but overdue land tax bills, then prison for refusing to pay them.
It’s hugh
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