Bill Gross talking his book again.
Doesn't the Fed realize that rentiers are hurting? How insensitive.
Did Gross miss that the yield on T-bills sunk to zero at auction?
CNBC NetNet
Bill Gross to the Fed: 'Get off zero, now!'
CNBC NetNet
Bill Gross to the Fed: 'Get off zero, now!'
Jeff Cox.
3 comments:
pobrecito!
"Gross cited a litany of losers under zero rates—pension funds, insurance companies and 401(k) investors, primarily—who will see lower returns ahead unless the Fed starts to normalize.
"Expecting 8-10 percent to pay for education, health care, retirement or simply taking an accustomed vacation, they won't be doing much of it as long as short-term yields are at zero," he wrote."
He is correct... its just taken him 8 years to figure out what qualified people can figure out in 8 minutes...
Well, Bill, if the "normalize" rates you can kiss the consumer based economy bye bye for a long long time.
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