Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Giordano Bruno who wrote (386858)	5/23/2009 1:23:45 PM
From: Real Man	Read Replies (1) of 436258

This was an honest reporter mistake that we've seen earlier this week. Pimpo ain't saying US will lose it's credit rating; Pimpo is pimping the Fed for more QE cause they are down BIG on their pimping portfolio. Now it all fits. <G> This is borrowed from Doug Noland's latest CBB: Bloomberg (Dakin Campbell and Mark Crumpton): “Bill Gross, the co-chief investment officer of Pimco… said the U.S. ‘eventually’ will lose its AAA rating, but not any time soon. Both the U.K. and the U.S. have prospective deficits of 10% annually as far as the eye can see… At some point over the next several years’ the debt of each ‘may approach 100% of GDP, which is a level at which country downgrades tend to occur,’ he said… Gross’s comments today come two months after he said the U.S. government will need to spend as much as $4 trillion in additional capital to cushion a slowing economy. The Federal Reserve said March 19 that it would purchase $1.8 trillion in Treasuries and housing-related debt to lower borrowing costs. ‘We need more than that,’ Gross said at the time. The Fed’s balance sheet ‘will probably have to grow to about $5 trillion or $6 trillion,’ he said.”

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