We watched the interviews at PIMCO on Bloomberg TV.
He may be sincere but there should be little doubt that Bill Gross was 'talking his book.'
Maybe Obama will spike the Jobs Numbers tomorrow to shake loose the money tree. He is a fool if he doesn't because it will not take much to put out a horrific number, especially after the years of pollyanna sand-bagging that had built up under Bush II.
Bloomberg
U.S. Must Spend to Avoid Mini Depression, Bill Gross Says
By Kathleen Hays and Dakin Campbell
Feb. 5 (Bloomberg) -- Bill Gross, co-chief investment officer of Pacific Investment Management Co., said the U.S. may slump into a “mini depression” unless policy makers spend trillions of dollars to spur growth.
“This economy needs support from the government, a check from the government in the trillions,” Gross said today in a Bloomberg Television interview from Pimco’s headquarters in Newport Beach, California. “There is a potential catastrophe if the U.S. government continues to focus on billions of dollars.”
Gross manages the $132 billion Total Return Fund, the world’s biggest bond fund. The fund gained 4.8 percent last year and has outperformed 99 percent of its peers over the past five years, according to data compiled by Bloomberg. The average government and corporate bond fund lost 8 percent in 2008, Bloomberg data show.
Pimco is a unit of Munich-based Allianz SE, Europe’s largest insurer.
“Thus, it should be understood that when pro-US figures use the term, 'rules-based international order,' they are not referring to anything analogous to the rule of law. Quite the opposite, they are using Orwellian language to describe a system in which essentially no rules can be established and/or observed, given that the dominant state has the prerogative to violate and/or rewrite “rules” at its whim.” Aaron Good, American Exception