Americans now know that housing prices can go down and they can go down by 10, 20, 30, and in some cases, 40 or 50 percent. We know they can go down. But five years ago, we thought they could only go up.
More Quotes from Bill Gross:
As long as the stock market does what it does, and keeps going up, the wealth effect is going to transmit into a fairly strong U.S. economy and preclude the Fed from easing rates,Bill Gross
Companies have been diluting your equity via stock options claiming that management needs incentives of millions of dollars just to get up in the morning and come in to work, ... Then they pick you off by trading on insider information, selling shares before the bad news hits and you have a chance to get out.
Bill Gross
With all this consumer debt, business debt, government debt, smaller movements in interest rates have a magnified effect... a small movement can tip the boat.
Bill Gross
At some point down the road, in a dynamic economy such as the U.S., we should be returning to a more normal shape. That means ultimately short rates and the front end of the curve will trade at lower yields than long rates.
Bill Gross
It's a very delicate balance.
Bill Gross
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