I must hand it to Pimco's Bill Gross (BG). He is well named! Mike Shedlock debunks the fallacies behind BG's "thinking", if you can call it that at Mish's, 4 September 2008. Here's a link: http://globaleconomicanalysis.blogspot.com/2008/09/bill-gross-wants-treasury-to-buy-assets.html. BG's proposals are laden with fallacies exploded over 100 years ago! I don't know how anyone can take BG's proposals seriously today. One quote from Mish, "The reality is banks need to fail and financial wizardry needs to come to a screeching halt". Amen brother!
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