Bill Gross says "government must take a leading role in job creation"

[thriftyandboringinohio]

http://www.pimco.com/EN/Insights/Pag...Rule-Days.aspx

Mr. Gross starts with jabs at today's college education, turns to ridiculing both parties for believing that reducing the deficit will create jobs, then calls for a big government solution.

[c1ue]

Re: Bill Gross says "government must take a leading role in job creation"

"Treasury" Bill Gross is definitely a smart guy and is willing to talk about what is going on.

However, "Dollar" Bill also talks his book.

With bank bailout (1) and Stimulus (1) - he did both.

I do wonder how he's supporting his own via advocating bigger government and ongoing deficit spending.

[thriftyandboringinohio]

Re: Bill Gross says "government must take a leading role in job creation"

"Treasury" Bill Gross is definitely a smart guy and is willing to talk about what is going on.

However, "Dollar" Bill also talks his book.

With bank bailout (1) and Stimulus (1) - he did both.

I do wonder how he's supporting his own via advocating bigger government and ongoing deficit spending.

I see your point; Gross advocates for PIMCO first and always.
Perhaps he sees no way to get all his bonds paid off on-time and in-full without an FDR-style public works program to heal the US economy generally. He's announced he's out of treasuries, so piling up more debt there doesn't hurt him much, and could avert a wider currency and bond crisis that could hurt his core positions.

[jk]

Re: Bill Gross says "government must take a leading role in job creation"

bill gross is a 67 year old multi-billionaire. according to wikipedia "He had donated $23.5 million to Duke University, $20 million of which was set aside for financial aid, in 2005. In 2006, Gross donated to Médecins Sans Frontières the 9.1 million U.S. dollars[14] that he earned from the auction at Shreves Philatelic Galleries of his British philatelic collections.[15] His Scandinavian and Finnish collections were sold by Spink auction house in May 2008 to make a donation to the Millennium Villages Project.[16]" in the absence of evidence, we should not exclude the logical possibility that he gives a damn.

[cjppjc]

Re: Bill Gross says "government must take a leading role in job creation"

I've never met Mr. Gross, and I really have no position on his motivation. But giving a damn and looking out for yourself first are not mutually exclusive. In fact I would go as far to say it's a way of life for most of us.

[lektrode]

Re: Bill Gross says "government must take a leading role in job creation"

I've never met Mr. Gross, and I really have no position on his motivation. But giving a damn and looking out for yourself first are not mutually exclusive. In fact I would go as far to say it's a way of life for most of us.

would agree with that, however i would've been far more impressed if he'd made this statement (about an FDR style makework program BEFORE the bernank/congress/obama went all-in on bailing-out their 'constituents' (read: the FIRE economy, the welfare class, state/municipal/auto unions) and instead put the borrowed trillions to work FOR THE REST OF US.

if a REAL re-build america plan had been executed, we might've seen real improvement in the economy, jobless rates etc by now - vs what we got - and when a guy like EJ gets pessimistic, i think its a damning indictment of the last 2 years 'performance' of the political aristocracy.

[thriftyandboringinohio]

Re: Bill Gross says "government must take a leading role in job creation"

...we should not exclude the logical possibility that he gives a damn.

+1

[cjppjc]

Re: Bill Gross says "government must take a leading role in job creation"

would agree with that, however i would've been far more impressed if he'd made this statement (about an FDR style makework program BEFORE the bernank/congress/obama went all-in on bailing-out their 'constituents' (read: the FIRE economy, the welfare class, state/municipal/auto unions) and instead put the borrowed trillions to work FOR THE REST OF US.

if a REAL re-build america plan had been executed, we might've seen real improvement in the economy, jobless rates etc by now - vs what we got - and when a guy like EJ gets pessimistic, i think its a damning indictment of the last 2 years 'performance' of the political aristocracy.

No however at all. What you describe is an ununique human way. I know we are all so above falling prey to this way. But maybe things happen in the only way they can happen. EJ gets alot of praise for his forcasting. It seems to me he just is good at seeing the inevitability of human reactions. Not what should happen, but what you can expect from people.

[charliebrown]

Re: Bill Gross says "government must take a leading role in job creation"

if the guy is a mult-billionaire and he gave away 100M, that is only 5% or less of his wealth. If he really gave a damn he might might want to think about giving 1.9 billion. And eek out a meager existence on the remaining 100M. I'm not angry at the man because he is rich. I am angry at him because I think he has his head deeply in the trough of the gvt. Although this metaphor means that the gvt is in control, and I think it is the other way around. Would pimco be around without TARP, TALF, QE1, QE2, XYZ, PDQ??

Any true giving must be sacrificial (it must hurt). I am well aware of "taking the log out of my own eye", hence no more will I speak about this. I do not believe in gvt confiscation either. Giving must be from the heart of the person. I am not giving to the poor when they smack me in the head and take my i-gadget.

[flintlock]

Re: Bill Gross says "government must take a leading role in job creation"

No doubt his name is on a few buildings at Duke as well. As someone who's grandfather's name is on a college building, I can only say that people rarely give this type of money without expecting something in return, if only a little ego boost. And the schools usually consider it a pretty good deal.

[c1ue]

Re: Bill Gross says "government must take a leading role in job creation"

in the absence of evidence, we should not exclude the logical possibility that he gives a damn.

But we have evidence. We know how he advocated for the bank and Fed-Tbond bailouts which fed money directly into his pocket (and PIMCo's)

[BK]

Re: Bill Gross says "government must take a leading role in job creation"

Bill Gross is a very smart Money Manager - where are the biggest Pools of Money in our Country -..........Universities.

PIMCO has traded in Duke University Bonds - I'd suspect there are about 3 dozen ways that giving to his University - is good business.
Search for Duke in the following Document
http://www2.pimco.com/pvit/SemiAnnua...%20Advisor.pdf
So lets not get Bill Gross on the fast track to Saint hood.

Think of all the Duke Alumni that might have been persuaded to invest some money in a PIMCO product after all the publicity from his Donation......