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Here you go. The whole video is good, but fast forward to about the 7:00 mark and go from there.
You do realize that Paul McCulley is basically a partner with the Federal Reserve??
The dude is a bond king...so...wait for it.... the more the Fed buys up bonds the more profits PIMCO generates.
If you are going to try and sway somebody I'd suggest doing it with a person that doesn't have a huge dog in this fight...like somebody NOT banking on the government to create more debt.
Besides, the stupid baseball game analogy was about as silly as it gets.
You do realize that Paul McCulley is basically a partner with the Federal Reserve??
"basically a partner" -- i don't even know what that's supposed to mean.
but if he is, good. he knows what he's talking about.
Quote:
The dude is a bond king...so...wait for it.... the more the Fed buys up bonds the more profits PIMCO generates.
"dude" doesn't work for PIMCO, and doesn't manage money anymore. he's retired and giving an honest opinion on the markets.
Quote:
If you are going to try and sway somebody I'd suggest doing it with a person that doesn't have a huge dog in this fight...like somebody NOT banking on the government to create more debt.
what a crappy argument. basically an ad hominem-- you attack the man without saying a word about the topic. This is pearls before swine, here.
Please re-read he arcticle. There are two types of debt, public and private. Your post makes it sound like numb nuts has reduced the deficient, life is peachy and we should be singing Kumbaya.. Nope
The pink at the top of the graph is the increasing public debt. All other categories are either decreasing the debt or it remains constant.
Also note that the width of the pink area remained relatively constant until the Dems took Congress in 2006.
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