Intersecting Minds: Education, Business and Technology at the North Carolina State Jenkins Graduate School of Management

Wednesday Morning Quick Hit | February 11, 2009

I have a finance midterm in a few hours but I wanted to highlight this article posted on Bloomberg right now. PIMCO investment fund thinks we aren’t spending enough:

“The economic setback is still in its early stages,” Koyo Ozeki, head of Asia-Pacific credit research at Pimco’s Tokyo office, wrote in a report published today on the company’s Web site. “Any further decline in housing prices could accelerate the downturn, intensifying the pernicious feedback loop and possibly leading to a second wave in the financial crisis in the next six to 12 months.”

We haven’t seen an economic situation like this, ever. Forget the Great Depression. The global economy is so intertwined, and there are so many key contributors that are stagnating (financial, credit, housing, construction, commodities, stock markets), that we just can’t sit on the sidelines.

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