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Gross Says Deficits Will Push Up Interest Rates and Other Priceless Comments

Posted Jan 7th 2010 6:30PM by Connie Madon (RSS feed)
Filed under: International Markets, Analyst Reports, Forecasts, Management, Market Matters, Getting Started, Money and Finance Today, Economic Data, Personal Finance, Recession

Bill Gross is one of the world's biggest investors. In his recent monthly letter he cites the dangers of ultra high deficits in the US.

But first, we must cite Gross' comments on the state of our democracy. He said: "Our democracy does not work anymore, or perhaps more accurately, when it does, it works for special interests and not the American people." "When special interests even singular citizens write a check, it represents a perversion of democracy, not the exercise of the First Amendment..."

Here's another priceless quote: Referring to the money spent by health care lobbyists, he said: "What amazes me the most of all is that politicians can be bought so cheaply."

Continue reading Gross Says Deficits Will Push Up Interest Rates and Other Priceless Comments

Australia is the first G-20 country to raise interest rates

Posted Oct 6th 2009 9:30AM by Connie Madon (RSS feed)
Filed under: International Markets, Economic Data, Recession

Australia, on Tuesday, became the first of the G-20 nations to hike interest rates when the Reserve Bank of Australia raised the cash rate from a 49-year low of 3% a quarter point to 3.25%.