MutualFundWire.com
   The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
Thursday, June 23, 2011 Gross Calls For an Infrastructure Bank
Specifically, Gross attacks the current emphasis on deficit reduction as a solution to all our economic problems. He's more worried about job creation, and he wants the U.S. government throwing its weight into the endeavor. Gross comes out in favor of a national infrastructure bank (also advocated by General Electric chief Jeff Immelt, Princeton economist Paul Krugman and Newsweek editor Fareed Zakaria), government support of the nascent green energy industry, a bigger emphasis on technical -- as opposed to liberal arts -- higher education and more. Gross even hearkens back to FDR's Civilian Conservation Corps, an employer of last resort program during the Great Depression. He offers a quote from economist David Rosenberg: "I'd have a shovel in the hands of the long-term unemployed from 8am to noon, and from 1pm to 5pm I'd have them studying algebra, physics and geometry." Printed from: MFWire.com/story.asp?s=37146 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |