I totally agree:
"It’s a sad testament to think the Fed has to cut interest rates eight days in front of a meeting to salvage the equity markets. The U.S. economy is in a rather sad state of affairs in that it depends on housing and stock prices to keep going.”
-Bill Gross, founder and chief investment officer, Pacific
Investment Management Co. (PIMCO)
Yes, I know its like throwing red meat in front of the lions — but have at it . . .
Pimco’s Gross Says Fed Rate Cut a `Sad Testament’
Hays and Deborah Finestone
Bloomberg, Jan. 22 2008