Thursday, April 19, 2012

Pimco at the Fed (os)

This April, Pimco's chairman, Mohamed El-Erian, has been giving a speech at the Federal Reserve Bank of St.Louis. His key hypothesis:
In the last three plus years, central banks have had little choice but to do the unsustainable in order to sustain the unsustainable until others do the sustainable to restore sustainability!
Well, sometimes its that simple. You find the speech here.