Bill Gross – Pimco’s Bill Gross: “The U.S. needs to make things, not paper”

Bill Gross, co-founder and co-CIO of PIMCO, is to my mind one of the shrewdest money men around. His monthly Investment Outlook newsletter therefore always makes for thought-provoking reading.

The following are a few excerpts from the December report:

“The global economy is suffering from a lack of aggregate demand. With insufficient demand, nations compete furiously for their share of the diminishing growth pie.

“In the U.S. and Euroland, many policies only temporarily bolster consumption while failing to address the fundamental problem of developed economies: Job growth is moving inexorably to developing economies because they are more competitive.

Read full article…

More from Bill Gross:

Bond king Bill Gross loves these emerging markets

Bond King Bill Gross: U.S. dollar set to get smashed

Bond king Gross: Keep your eye on 10-year Treasurys

America had better get busy making things or we’re going to go down just like Iceland did… mark my words.

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