Thursday, February 3, 2011

Unemployment Will Prevent Fed From Rate Hike: Gross - CNBC

What Bill Gross is saying in layman terms is that real unemployment in the U.S. is well in excess of 10% (we estimate 15% on real basis), we have not written down the multi-trillion dollar real estate debt which the Federal Reserve continues to purchase and warehouse, and the socialization of the U.S. Equity and Debt markets by manipulating interest rates downward and creating a debtor nation that is depleting the true net worth of U.S. Citizens.

Unemployment Will Prevent Fed From Rate Hike: Gross - CNBC

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