Friday, January 15, 2010
Joe Kernen calls out El-Erian on "Sugar high"
And what does Pimco's Panda Bear, El-Erian, PIMCO's #2 try to do and deflect that?
He talks about the Jets!
What happened on September 4, when the jobs number came out? All El-Erian could talk about was the Patriots!
PIMCO's El-Erian says 2010 is now the year of the sovereign balance sheet.
So much for "sugar highs, escape velocity and brick wall."
And they do that with a rubber glove!
So today, he has his new term--the sovereign balance sheet!
Remember what El-Erian did during the Lehman Bankruptcy?
On the Wednesday and Thursday after Lehman filed for Chapter 11, I asked my wife to please go to the ATM and take as much cash as she could. When she asked why, I said it was because I didn't know whether there was a chance that banks might not open. I remember my wife sort of pausing and saying, "Are you serious?" And I said, "Yes, I am."
He hit the ATM! For his precious dollars! Oh My!
So now you know why he worries about Sovereign balance sheets.
He's determined to find a hole there.
He wants his dollars to be safe!!
But d*mn the stock market, because it ran right over him!
With all of their rocket scientist, PHD touting academics!
Posted by Palmoni at 9:13 AM