tag:blogger.com,1999:blog-6616959642391988608.post2593630936185567688..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: The evidence of monetary excess is elusive, but it can be foundScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6616959642391988608.post-10012267930196554642011-01-24T11:14:51.366-08:002011-01-24T11:14:51.366-08:00Bill,
Also remember Pimco is a bond house. They h...Bill,<br /><br />Also remember Pimco is a bond house. They have amassed a huge amount of money to manage during the bond bull market. If they were to become too optimistic, much of that money might leave for greener pastures. I always expect an outlook on the less sanguine side of the spectrum. <br /><br />I realize this is a rather cynical way to observe them. However I do have great respect forJohnhttps://www.blogger.com/profile/11652253509768573561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-73072378850448165912011-01-24T09:49:30.920-08:002011-01-24T09:49:30.920-08:00"It's hard to worry that inflation is goi..."It's hard to worry that inflation is going to rise because there is "too much money chasing too few goods and services."-<br /><br />Indeed, Remember, unique among the world's economies, the USA has open borders. Capital, labor, goods and services pour in here to meet demand.<br /><br />We benefitted from 12 million illegal immigrants (maybe 20 million)coming here to work Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-2019684458940700292011-01-24T09:12:56.292-08:002011-01-24T09:12:56.292-08:00Dow up again today.
We now have economic growth, ...Dow up again today.<br /><br />We now have economic growth, very low inflation and a rising Dow. Property is still soft, but no longer going down, and in some places going up.<br /><br />If Bernanke is wrong, I hope he stays wrong for a long, long time.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-78080804318533850272011-01-24T08:56:47.868-08:002011-01-24T08:56:47.868-08:00If Pimco didn't feel that way about the outloo...If Pimco didn't feel that way about the outlook, they would be positioning their fund in a much less defensive way, or recommending that investors look to other alternatives. Whether California defaults is another issue, but personally I doubt that a California default--which has a reasonable chance of occurring--would be the defining event leading to a gloomy U.S. economic growth scenario.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-85352571784684332682011-01-23T14:37:35.900-08:002011-01-23T14:37:35.900-08:00Scott,
I visited the Pimco website (I've got ...Scott,<br /><br />I visited the Pimco website (I've got some retirement money in the Total Return Fund) and boy are they gloomy about the US economy. They believe the Country is headed for disaster with the high debt level. With news of a possible California default, do you think Pimco's forecasts merit attention?Billhttps://www.blogger.com/profile/06910619601367464068noreply@blogger.com