by Jack Sparrow
We like to pick on Bill Gross every once in a while. He is a billionaire who loves to “talk his book” — i.e. tout Pimco’s trading positions — so he can certainly take it.
An example from last year, “The Bond King Gets Desperate,” is newly relevant given the bond king’s latest commentary.
In last year’s write-up, we took Gross to task for saying America is like Greece. He’s saying it again – that America is comparable to Greece – and it’s still just as silly.
The latest Pimco Investment Outlook (Gross’ monthly commentary vehicle) is called “Damages.”
It is full of quotable soundbites, like ready-to-dip chicken McNuggets, such as stating Uncle Sam is addicted to ‘budgetary crystal meth.”
Here is the Greece part (which got a lot of armageddon types excited):