El Erian: the contagion of the Greek debt crisis and insolvency of sovereign debt

Changed post title, CNBC had a bad title there, El Erian did not say it was frightening, he said we have serious concerns over the contagion and solvency…

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Yesterday’s interview, which CNBC tried to blame for the market plunge, lol:

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May 7, 2010. Tags: , , , , , , , , , , . Economy, Finance, Politics, Taxes, Unemployment Statistics, Wall St. Comments off.

DOW opens down 200 on Dubai Debt Default, El-Erian on the markets reaction

Perhaps this will help the markets buy a frakkin CLUE and look at the fundamentals for a change….see our post on the Dubai Debt Default….CITI apparently has A LOT of exposure to this loss

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November 27, 2009. Tags: , , , , , . Economy, Finance, Politics, Wall St. Comments off.

El-Erian: More job losses, sluggish growth in 2010…

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CNBC:

“We think that the second half of 2009 will be turbo charged by the stimulus and there will be a hand off to the consumer and that’s what you want,” El-Erian said. “But it’s going to be challenging. We worry that 2010 is going to have sluggish growth and high unemployment and lower valuations.”

As for the run up in gold prices, El-Erian said it’s not a good sign for the US economy.“I worry when I see gold doing what it’s doing and the dollar doing what it’s doing,” El-Erian said. “It’s an indication that the world is starting to worry about the US and we have to take these signals seriously.”

As for the run on corporate bonds, El-Erian said caution should be exercised. “It’s been a wonderful run but most recently, money is being pushed into the sector,” El-Erian said. “I would focus on high grade companies, companies that have their financials and operating leverage under control.”

El-Erian also said now is not the time for risk in the stock market. “I would reduce risk and wait for a better time,” said El-Erian. “I think there are a lot of people chasing risk assets now for a lot of reasons, but the long term investor can be patient because the economy is likely to face strong head winds in 2010.”

At 4:17 in El-Erian notes he is concerned about ongoing govt involvement in the markets..him and 130 million Americans on Main St are worried about it too!!

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October 6, 2009. Tags: , , , , , , , , . Economy, Finance, Obama Administration, Politics, Unemployment Statistics, Wall St. Comments off.

Update: El-Erian on the imminent market pullback: Market Mover Friday: Consumer Sentiment plunges, CPI flat…

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CNBC: “The stock market has gotten ahead of reality, Pimco’s Mohamed El-Erian told CNBC Friday.

In a continuation of recent comments, El-Erian, co-chief executive officer of the largest bond fund manager in the world, said the US has yet to see a durable and sustainable recovery.

“Stock investors are making overly optimistic assumptions,” El-Erian said. “The key stimulus has already come into the consumer and has helped in the last few months. But for the third and fourth quarters looking ahead, I am not so sure things will be as good.”

Just three weeks ago, El-Erian told CNBC that the stock market spent July on a “sugar high,” rising to levels not justified by an economy that is still limping along….”

(more…)

August 14, 2009. Tags: , , , , , , , . Economy, Finance, Obama Administration, Politics, Unemployment Statistics, Wall St. Comments off.

Market on ‘Sugar High,’ Economy Still Asleep: El-Erian – CNBC.com

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CNBC:

The stock market spent July on a “sugar high,” rising to levels not justified by an economy that is still limping along, Pimco’s Mohamed El-Erian told CNBC. Despite proclamations from some that the recession is over, El-Erian, co-chief executive officer of the largest bond fund manager in the world, said much more needs to happen before the economy registers real growth.

“The July part of the rally is a bit of a sugar high,” he said in a live interview. “We need final demand. We need a feeling that deleveraging in the private sector has run its course, that people feel confident now to engage in consumption, investment.” It’s not happening yet on the national level, it’s not yet happening at the global level.”El-Erian stuck with predictions from various Pimco executives recently that the economy would be mired in gross domestic product growth of about 1 to 2 percent for the foreseeable future.”We’re not going to go back to where we’ve come from,” he said.

While the banking sector has taken much of the focus during the current recession, El-Erian said it’s now about the real economy, particularly wages and unemployment. Those two areas must recover, and that will take a while, he added.

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July 29, 2009. Tags: , , , , , , , . Economy, Finance, Labor Department, Unemployment Statistics, Wall St. Comments off.

Markets & Mortgage Rates, monetizing the debt and PIMCO’s El-Erian on the Treasury markets..- CNBC.com

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Discussing the importance of keeping mortgage rates low, with Andy Serwer, Fortune; Frederic Mishkin former Federal Reserve Board governor; CNBC’s Rick Santelli & Steve Liesman

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Last week’s spike in the unemployment rate combined with rising bond yields and oil prices has created a headwind on the nation’s course to economic recovery, with Mohamed El-Erian, Pimco CEO/co-CIO.

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June 9, 2009. Tags: , , , , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, Unemployment Statistics, Wall St. Comments off.

Outlook From the Bond King – CNBC.com

Mohamed El-Erian of Pimco on the future of the economy….

a PRIVATE SECTOR LED ECONOMY to reduce unemployment he advises, gee what a novel idea!! Notice the yields on the 10 yr Mohamed references….

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May 27, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , , . Economy, Finance, Labor Department, Obama Administration, Politics, Taxes, Uncategorized, Unemployment Statistics, Wall St. Comments off.

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