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Tuesday, March 23, 2010

Experience Europe Without Leaving Home

Mahamed El-Erian is the well-regarded CEO of PIMCO, which manages investments for client accounts and is one of the world's largest bond investors. In a tweet not long ago, El-Erian posted his outlook for our economy:

This outlook puts us squarely on the European track, as I noted long ago in U.S. Hits Highest Unemployment Rate Since ... Europe.

The difference between this recession and prior recessions is that the Obama administration policies are turning what could and should have been a temporary rise in unemployment into a permanent feature of our economic system.

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1 comment:

  1. That tweet sums up the plot for Atlas Shrugs. It's time to either fight, and vote out the scum....or go Galt.