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OC's Trillion Dollar Man Worried USA is Heading for a Double-Dip Recession

All those daily Obama Administration assurances that the U.S. economy is heading in the right direction might just be wishful thinking or cynical public manipulation.


Dr. Mohamed Abdulla El-Erian, the chief executive of Newport Beach-based investment house giant Pimco--the world's largest bond investor with $1 trillion, told The Independent in London today that he's "worried" the U.S. economy is "heading for a double-dip recession and a period of deflation."

How sure is El-Erian, who is reportedly fluent in English, French and Arabic?

A 25 percent chance, which he says, should alarm everyone.

He told The Independent, "If you wonder how meaningful 25 percent is, ask yourself the following question: if I offered you that I drive you back to work, but there's a one in four chance that I get into a big accident, would you come with me?"

Well, doctor, it depends on what you're driving.

A $1.7 million Bugatti Veyron

--R. Scott Moxley / OC Weekly

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