Thursday, May 6, 2010

Pimco's El Erian on Sovereign Risk

Good interview with Pimco's El Erian. Everything he says is right on. What ticks me off so much though is back in 2007 and 2008 Pimco and the Bill Gross cohorts were the ones preaching more debt and more stimulus. Had to do stimulus. Now they see the light (maybe they did then also and was just talking their book). Anyway, whether the next 1 day or 3 months feel fine the next three to five years are going to be very painful for the average American.

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