Bill Gross Pessimistically Compares Economy To An Eagle’s Wings

Forget the Great Rotation, the New Normal, and the T Junction, PIMCO founder Bill Gross’ latest euphemism for the future of the economy is the wings of an eagle – and not in the sense that it’s about to take flight. Bill Gross is worried, not about a sudden unraveling as tapering sets in or some shock hits the financial system, but that investors will drift away from riskier investments, undermining price support for many asset classes.

Bill Gross on monetary and fiscal policies

“If monetary and fiscal policies cannot produce the real growth that markets...