Mahamed El-Erian is the well-regarded CEO of PIMCO, which manages investments for client accounts and is one of the world’s largest bond investors. In a tweet not long ago, El-Erian posted his outlook for our economy:
This outlook puts us squarely on the European track, as I noted long ago in U.S. Hits Highest Unemployment Rate Since … Europe.
The difference between this recession and prior recessions is that the Obama administration policies are turning what could and should have been a temporary rise in unemployment into a permanent feature of our economic system.