I get tired of hearing my own thoughts, so pardon me if I note that I’m awfully tired of hearing every last (statist) thought of Bill Gross who runs a big bond fund. He’s forever telling Uncle Sam how to manage the economy. Today’s Keynesian advice is “This economy will need an additional jolt of $500 billion or so of government spending real quick.” Mr. Gross needs to ask a few questions: Where will this $500 billion come from? Might it be from taxes? Debt, and then taxes? Where’s the gain in shifting $$$ from the private sector to the government? Are people saving too much? What will the government waste this money on?

I have serious problems with many investment managers and the investment management industry in general. Most of them add no value for their clients, despite their serious efforts at trying. Some at least are entertaining. Bill Gross is just a pain in the neck.