It's the Bears vs. the Bulls, but this playing field is economic prognostication. AdvisorOne presents a slide show of some of the noted economic pessimists and optimists. First up this week are … da Bears.
BILL GROSS
PIMCO founder and
managing director
Gross' "new normal" has found a home, and it's in the grim post-industrial Allentown immortalized in the Billy Joel song. In his December commentary letter to clients, Gross expands on the theme of his famous "new normal" speech about living in a time of deleveraging and reduced economic expectations. Gross argues that the downshift in global demand increases global competition for a slice of the world's smaller economic pie.
Regarding the Fed's QE2 plan unveiled in November, Gross wrote in a November commentary, "The Fed's announcement will likely signify the end of a great 30-year bull market in bonds and the necessity for bond managers and, yes, equity managers to adjust to a new environment."
Talk about bursting your bubble …
It's the Bears vs. the Bulls, but this playing field is economic prognostication. AdvisorOne presents a slide show of some of the noted economic pessimists and optimists. First up this week are … da Bears.
NOUREIL ROUBINI
Co-founder of Roubini Global Economics and a professor at NYU's Stern School of Business
Roubini's financial analysis firm, Roubini Global Economics, issued a report on Feb. 28 that theorized muni bonds were in for a fall—a big fall, to the tune of some $100 billion—over the next five years, as state and local governments default on obligations.
And at Davos this year, he said that the world may have stepped back from the brink of collapse in 2008, but it faced huge risks ranging from spiraling food and commodity prices to the danger of trade and currency wars, against a background of growing inequalities that threaten stability.
Wait, this is called "stepping back" from collapse?
It's the Bears vs. the Bulls, but this playing field is economic prognostication. AdvisorOne presents a slide show of some of the noted economic pessimists and optimists. First up this week are … da Bears.
ROBERT RODRIGUEZ
CEO of First Pacific Advisors