Bill Gross’ September market outlook is full of “new normal” talk.
…[if] you are a child of the bull market, it’s time to grow up and become a chastened adult; it’s time to recognise that things have changed and that they will continue to change for the next – yes, the next 10 years and maybe even the next 20 years. We are heading into what we call the New Normal, which is a period of time in which economies grow very slowly as opposed to growing like weeds, the way children do; in which profits are relatively static; in which the government plays a significant role in terms of deficits and reregulation and control of the economy; in which the consumer stops shopping until he drops and begins, as they do in Japan (to be a little ghoulish), starts saving to the grave.
He then hits on a littany of well-known trends, such as increased healthcare demands, the end of shadow banking, declining homeownership and energy scarcity. It’s all misery!
Though to be honest, whenever we hear stuff like this, our temptation is to ask: tell us something we don’t know.
So perhaps we’ll hand it off to our readers on this one. What’s the angle that Gross and so many others are missing?
Business Insider Emails & Alerts
Site highlights each day to your inbox.