Bill Gross is Shameful

• Tweet
• Pin It

Bill Gross, the famous (in financial circles) and ultra-compensated bond fund manager from PIMCO, has called for the Bush administration to bail out homeowners facing foreclosure. The costs of such a bail-out have been likened to the cost of the Iraq war (upwards of 1 trillion dollars). If the administration falls for Gross’ pleadings one could expect the value of the U. S. dollar index to crash through the 80 barrier. This would lead to serious price inflation and higher long-term interest rates down the road causing unforeseen miseries for the over-indebted U. S. consumer.

The motives of Mr. Gross should be in question too because it has been pointed out in various blogs that a fund he manages is heavily invested in housing related debt instruments. Shame should be thrown on Bill Gross from all angles. His wrong-headed commentary is linked here.

• Tweet
• Pin It

Related Posts

• 

  iShares Silver Mining ETF Allocation Increased
  iShares Silver Mining ETF Allocation Increased
• 

  Commodities Approach Previous Area of Bottoming
  Commodities Approach Previous Area of Bottoming
• 

  PIMCO’s Bill Gross Makes Predictions for 2013
  PIMCO’s Bill Gross Makes Predictions for 2013
• 

  Stocks Collapse Due to Draghi, Not Obama: Mohamed El-Erian
  Stocks Collapse Due to Draghi, Not Obama: Mohamed El-Erian