Wednesday, October 26, 2011

Ou Eez Zeess Beel Gross, Anyway? Ouat does Eeh Matterr?

Pimco’s Bill Gross: Cesi n'est pas une summit

This is no summit. It’s a coffee klatch filled with petit fours and empty promises.
And another big thank you to EUropastan...

EU is a dysfunctional family. Recession ahead even if agreement is reached. Greek default certain, Portugal/Ireland loom.
He put more succinctly though:

fiscal contraction is long term scenario. Risk off.