Tuesday, June 21, 2011

Bill Gross channels FDR

PIMCO | Investment Outlook - School Daze, School Daze Good Old Golden Rule Days: "School Daze, School Daze
Good Old Golden Rule Days
The past several decades have witnessed an erosion of our manufacturing base in exchange for a reliance on wealth creation via financial assets.
 Fiscal balance alone will not likely produce 20 million jobs over the next decade. Government must take a leading role in job creation. 
A growing number of skeptics wonder whether college is worth the time or the cost."

Click through and read the whole article--sounds like FDR's 1933 inaugural: what we need is more government involvement in the economy, not less; a plan of action to put people to work.

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