Gross Says It Best

If you have not read it yet Bill Gross put out a great piece on why the answer to our debt problem is not cutting taxes and creating yet more debt.

From Pimco:
Unlike Euroland or the United Kingdom, which appear to have gone on an extreme fiscal diet, the American answer to a bulging waistline is always “maƱana.” Debt commission recommendations are tossed in the trashcan, tea party election rhetoric eventually focuses on miniscule and merely symbolic earmarks, and both Democrats and Republicans congratulate each other on their ability to reach a bipartisan agreement for the good of the nation. Munch! Munch! Off with our heads!
 Have a good night.

2 comments:

Anonymous said...

until now the US public has been a victim of stockholm syndrome whose kidnapper is the fed. I expect alot of political wrangling against the fed.

Anonymous said...

There is a very good chance the fed will be extinguished by the next recession