When Bill Gross talks, people listen, as the billionaire investment guru out of Newport Beach and that tony beach town's PIMCO firm can make calls on markets around the world that ultimately shake the global economy (Hello, Greece . . . Greece? Are you still there?).
But Gross' just-posted monthly investment outlook titled “Damages” may have folks from Wall Street to Shanghai wondering what ol' Billy's been smoking.
Referencing current and future U.S. debt, and echoing the concerns of the International Monetary Fund, the Congressional Budget Office and the Bank of International Settlements, Gross writes in his outlook posted on the PIMCO website today:
“The U.S., in fact, is a serial offender, an addict whose habit extends
beyond weed or cocaine and who frequently pleasures itself with
budgetary crystal meth.”
Am told budgetary crystal meth is even stronger than Walter White's blue ice. You just need a waaaaaaay bigger pipe to smoke it.
Look, though what Gross usually writes about flies over my head like Fourth of July bullets in Santa Ana, I do get a kick out his folksy, pop culturally relevant and way too personal references (Remember the infamous “negative tip” to the waitress?).
But this latest rant leaves my head shaking not over the financials but just exactly where America's meth mouth would be located. Looking at a map, I'd say Oklahoma City, which is . . . um . . . Hey, maybe ol' William H. Gross is on to something: