Top bond trader Bill Gross calls for more stimulus

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“Politicians feel that fiscal conservatism equates to job growth. It’s difficult to believe, however, that an American-based corporation, with profits as its primary focus, can somehow be wooed back to American soil with a feeble and historically unjustified assurance that Social Security will be now secure or that medical care inflation will disinflate,” he wrote.

He said government “must temporarily assume a bigger, not a smaller, role in this economy, if only because other countries are dominating job creation with kick-start policies that eventually dominate global markets.”

In his outlook, Gross called for education reform to reduce structural unemployment caused by a lack of skills among the unemployed. Such reform would incentivize more math and science study and less in the liberal arts.

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