Bill Gross, the biggest bond manager in the world for Pimco said today that there is NO WAY the Chinese would be able to buy our $1.7 Trillion in debt THIS year. NO WAY.
We are now buying 300 billion leaving $1.7 Trillion for some "stooge" nation or concern to buy. Who?
Not the USA. Not the Chinese. Not the Arabs. Not Europe. Not the Japanese. Let's see...mmmmmm. Who?
Amid the positive spin on today's "good news" and all the "green shoots" out there like Cramer and Maytag selling China all their inventory of washing machines several economists again reported under their breath that inflation is coming our way. Really?
These "sector rotation" ruses are comical and ruthless at the same time. Jim Cramer and his Fast Money buddies are the biggest pimps I've ever heard or seen.
Watch out below for the stock market. This is a set up. Sell in May and stay away is more real now than ever before.
The Fed is not sanguine on situation in which our economy finds itself. You are doing yourself a big favor if you read the reports without the "spoonfeeding spin" of the media.
Read these reports for yourself and get into gold related investments and OUT of the general equity markets. This ride is just beginning.
The way I understood him was he said that Feds refrained from making any further commitments today, but that they will need to buy a lot more 1.6 trillion T's in the future. Of course that means more money printed. He also eluded to the fact that PIMCO is not going to participate much in buying bonds for their clients. Tough going ahead.... He is waiting for 10yr yield to go to 3.1%, but its almost there. I wonder if the market reversal is coming really soon, so that their rates will drop back down to below 3%. Smart dude Bill Gross.