Wednesday, March 09, 2011

Bill Gross Is Clueless

Now maybe I am being hard on Bill.  I mean, he was smart enough to hire Mohamed El-Erian after he blew up Harvard’s investment company.  And he hired Neel Kashkari after he helped blow up Goldman Sachs.   But I joke.  All of these men are surely brilliant.

Gross is the consummate status quo bureaucrat.  He makes money off of other people.  That’s it.  Nothing more.  This guy deserves the microphone no more than any other American.  He has not created the cure for cancer.  Nor has he postulated quantum physics.  Nor has he worked on the factory floor making automobiles.  Or built a house.  Or taught our children.  Or serviced the sick.   Bill Gross doesn’t live in the real world.  People in the real world allow his fantasy world to exist.  This guy does nothing more than push around taxpayer guaranteed debt instruments.   A fucking monkey could do that.   And as we are finding out as their inventions are blowing up left and right, these people are, in fact, monkeys.

Many people follow people like Gross’s every word as someone who actually knows what he is talking about.  Gross was in the ether before this crisis.  Living large and believing life was good.  So, what makes anyone believe his comments today are anything more than dumb luck or the flip of a coin? 

Now he is saying there is no way out for the U.S. and their debt issue.   This is a completely ridiculous statement.  Living standards must fall according to Gross

Well, if we rely on bureaucrats like Gross to find out way out of this, we are going to see a lot of unnecessary pain.  Just as we saw a lot of unnecessary pain over the last thirty years for listening to these boneheads.   We need to get people like Gross out of our lives and out of our way so productive people can rebuild the mess he helped create.  He doesn’t understand economics and he clearly doesn’t understand what he is talking about here. 

When you get ideologues and clueless bureaucrats controlling the microphone, there is no way to get to the truth.  There are many ways for the U.S. to deal with this crisis without seeing a collapse.  And they aren’t off the wall ridiculous either.  They simply re-embrace what made our country the wealthiest in the world for the past two hundred years.  And part of that was getting people like Gross out of our lives.  Comparing the U.S. to a corporation is ridiculous.  And believing the U.S. ever has to borrow money from a private source is even more ridiculous.  By the way that strangers are gracing us by buying our debt as he remarks is also ridiculous.  That is American capital that China is using to buy our debt.   And it is a crime that the U.S. government should ever borrow money from any private bank or other country.  All we need to get out of this environment is repudiate the economic ideology that Gross and other nonsensical bureaucrats support and the U.S. will be fine.   

I am not here to spoon feed any answers but to implore people to think.  I have met people who don’t have any formal education beyond middle school who know how to fix our problems.  That Gross sees no way out shows how deluded his reality is.  I know how to fix this mess and so do countless others.  We’ll go there some day but it isn’t likely to be any time soon.  We are still waiting on the real world to reveal itself and all of the other things we have discussed since starting this blog to come to pass. 

By the way Mr. Gross, the last time we had this much public debt, it was not because of corruption as it is today.   Corruption that you helped fund by buying U.S. government debt.  But with the mound of debt we had the last time in history it was this percentage of GDP, our economy roared.  And we didn’t cut Social Security or public pay or fire half of the country or see our living standards fall as Gross states is so obvious.  Obviously wrong.   These people are so fucking stupid, I am absolutely sick of listening to them.  I do apologize for  my vitriolic language but it makes me so damned upset what these people are doing to our society, our community and our country.    And, for goodness sake, this is a blog.  It’s not an economics book for second graders. 

I have quoted Joseph Schumpeter on here many times.  He, unlike Gross, was a brilliant mind.  And a brilliant economist.  As we have noted numerous times over the years, Schumpeter said at times of economic crisis, the most important dynamic needed to restart the economy was to get rid of the ideological idiots who created the mess in the first place.   I completely agree.  Let’s let Mr. Gross get a real job, get off of this failed debt-based monetary system, get rid of Wall Street and fire all of the political idiots and lobbyists in Washington.  

posted by TimingLogic at 9:35 AM