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U.S. Must Spend to Avoid Mini Depression, Gross Says

Posted By admin On February 5, 2009 @ 2:03 pm In Money Watch | Comments Disabled

Kathleen Hays and Dakin Campbell
Bloomberg News [1]
Thursday, February 5, 2009

Bill Gross, co-chief investment officer of Pacific Investment Management Co., said the U.S. may slump into a “mini depression” unless policy makers spend trillions of dollars to spur growth.

“This economy needs support from the government, a check from the government in the trillions,” Gross said today in a Bloomberg Television interview from Pimco’s headquarters in Newport Beach, California. “There is a potential catastrophe if the U.S. government continues to focus on billions of dollars.”

Full story here. [1]

U.S. Must Spend to Avoid Mini Depression, Gross Says 335x205 graph128c aj [2]

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URLs in this post:

[1] Bloomberg News: http://www.bloomberg.com/apps/news?pid=20601087&sid=a_qX29XEwEqg&refer=home

[2] Image: http://www.efoodsdirect.com/products.html

[3] Not This Again: Pimco’s Gross Calls for Trillions to Be Spent to Avoid Depression: http://www.prisonplanet.com/not-this-again-pimcos-gross-calls-for-trillions-to-be-spent-to-avoid-depression.html

[4] Bill Gross: We’ve Got a “Ponzi-Style Economy”: http://www.prisonplanet.com/bill-gross-weve-got-a-ponzi-style-economy.html

[5] U.S. Must Buy Assets to Prevent `Tsunami,’ Gross Says: http://www.prisonplanet.com/us-must-buy-assets-to-prevent-tsunami-gross-says.html

[6] Fed Easing May Mean 20% Dollar Drop: Bill Gross: http://www.prisonplanet.com/fed-easing-may-mean-20-dollar-drop-bill-gross.html

[7] Bill Gross Sends Out Big Apology To Investors, And Then Declares That The Economy Is Doomed: http://www.prisonplanet.com/bill-gross-sends-out-big-apology-to-investors-and-then-declares-that-the-economy-is-doomed.html

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