Bill Gross of Janus says the good times are over

crimsonaudio

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Seems like every month for the last six years some expert has emerged telling us the end is near, yet here we are...

I'm beginning to believe very few really understand enough about the economy to be able to predict much of anything.
 

selmaborntidefan

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At which point it will be the Republicans's fault, with massive references to how they caused the Great Depression and the Great Recession.

(I'm always amused at how often it's the GOP's fault regarding finance even when the Democrats own the entire government and have been making decisions for years (insert 1937 recession here). Now - to be fair -I think the whole "blame whoever" while popular is MOSTLY garbage. The notion one person or party can control the spending habits of hundreds of millions of Americans is rather far-fetched unless you have, say, a flat tax of 40% or something).
 

crimsonaudio

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Since the Fed has cut off the free money from the endless QEs, the inevitable reckoning is probably coming.
Probably. Seems logical. But there were countless doomsday scenarios laid out regarding QE and how within 12 months we'd see massive inflation (predicted far greater than anyone has seen), etc. It just looks more and more as if there are LOTS of folks who have an education in economics but have little practical experience in dealing with a massive (and massively complex) system which is the US economy.

I'm just not gonna worry about it - I'm stocked up with what I need, whatever happens is gonna happen...
 

Displaced Bama Fan

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Probably. Seems logical. But there were countless doomsday scenarios laid out regarding QE and how within 12 months we'd see massive inflation (predicted far greater than anyone has seen), etc. It just looks more and more as if there are LOTS of folks who have an education in economics but have little practical experience in dealing with a massive (and massively complex) system which is the US economy.

I'm just not gonna worry about it - I'm stocked up with what I need, whatever happens is gonna happen...
Like I've said before, Canadians next door for alcohol, Mormons across the street for everything else. I'm good.
 

Bodhisattva

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Seems like every month for the last six years some expert has emerged telling us the end is near, yet here we are...

I'm beginning to believe very few really understand enough about the economy to be able to predict much of anything.
Agreed. The economy is so large and complex I don't think much more than big picture educated guesses are possible.

Much more telling is the other side of the coin - trying to manage the economy. The idea that central planners can correctly identify a problem, divine a solution, and then create and implement policy to address the supposed problem ..... I can think of few things more arrogant and foolish. Yet these people gain more and more influence with each passing year.
 

selmaborntidefan

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Probably. Seems logical. But there were countless doomsday scenarios laid out regarding QE and how within 12 months we'd see massive inflation (predicted far greater than anyone has seen), etc. It just looks more and more as if there are LOTS of folks who have an education in economics but have little practical experience in dealing with a massive (and massively complex) system which is the US economy.

I'm just not gonna worry about it - I'm stocked up with what I need, whatever happens is gonna happen...
Ronald Reagan said that an economist is a person who sees how the economy works in the real world and wonders if it would work on paper (in theory).

Harry Truman said he wanted "a one hand economist" because every economist he consulted always said, "well on one hand you have X and on the other you have Y and on the other you have...."

Btw - here's another thing: Republicans were screaming that Obama's resultant inflation was going to sink the economy. Wrong. Otoh, the Democrats said the sequester would destroy the economy. Also wrong. Maybe the only bipartisanship in DC is the simple fact both parties are stupid and look out for their own political interests ahead of the nation's.
 

GrayTide

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Ronald Reagan said that an economist is a person who sees how the economy works in the real world and wonders if it would work on paper (in theory).

Harry Truman said he wanted "a one hand economist" because every economist he consulted always said, "well on one hand you have X and on the other you have Y and on the other you have...."

Btw - here's another thing: Republicans were screaming that Obama's resultant inflation was going to sink the economy. Wrong. Otoh, the Democrats said the sequester would destroy the economy. Also wrong. Maybe the only bipartisanship in DC is the simple fact both parties are stupid and look out for their own political interests ahead of the nation's.
I had an Economics professor in graduate school who described Economists as someone driving a car looking out the rear window.
 

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