MutualFundWire.com: Gross Goes on Wacky Political Tirade

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Thursday, November 1, 2012

Gross Goes on Wacky Political Tirade

Bill Gross did it again. In his latest letter, the Pimco founder and co-chief investment officer launched a colorful, breathless tirade on the Election, two-party politics and them pesky SuperPAC’s.

He pulled out all the stops in this one, writing about Genies, Flavor Flav, donkeys, elephants and caramel corn among other things, according to BusinessInsider.

His point? Such as it is: the American presidential elections are bought.

Obama/Romney, Romney/Obama – the most important election of our lifetime? Fact is they’re all the same – bought and paid for with the same money.

He was even inspired to rewrite the Pledge of Allegiance.

I pledge allegiance to the flag of the fragmented state of America, and to the plutocracy for which now it stands, a red and blue nation, under financial gods indistinguishable, with liberty and justice for the 1(%).

Oh yeah, he remembered to include some points about investing, essentially arguing that Bernanke’s plans aren’t delivering the goods.

In the past three years of quantitative easing and financial repression, can we see a noticeable effect on investment as opposed to consumption.

Surely by now, if the Bernanke model was as advertised, we would be seeing a pickup in investment as a percentage of GDP and a willingness to start saving “seed corn” as opposed to eating “caramel corn.