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Fiscal cliff worries may appear on the surface to be a big concern among market pundits, but the...

  • Monday, December 31, 2012, 7:40 PM ET
    Fiscal cliff worries may appear on the surface to be a big concern among market pundits, but the word never got to the trenches where buyers have largely held up equity gains for the year. The reason, according to Pimco's Mohamed El-Erian, is the confidence investors have for the Fed. "If you have an institution that has a printing press in the basement," El-Erian says, "you respect it."
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This news story has 7 comments:

  •  
    Just like Robert Mugabe, buddy.
    31 Dec 2012, 08:40 PM Reply Like
  •  
    "Confidence in the Fed"?? What a joke. Bernanke has practically turned our independent central bank into an arm of Obama for America, lol... When El-Erian finally admits the emperor has no clothes you can bet he'll be short the long bond. I get so tired of seeing the PIMCO guys talking their book while looking like such earnest prognosticators, and everyone believes it.
    31 Dec 2012, 09:07 PM Reply Like
  •  
    Never fight the Fed guys.
    31 Dec 2012, 09:22 PM Reply Like
  •  
    Bernanke is the only one with any sense.

    P
    31 Dec 2012, 09:26 PM Reply Like
  •  
    agree.
    31 Dec 2012, 09:28 PM Reply Like
  •  
    Thats because if DC would just do even the slightest mediocre job of addressing the fiscal situation the economy is in a decent position.

    We have a few years worth of pent up durable goods demand. We have corporations with lots of cash. We have a ready supply of labor.

    What we don't have is any leader in our government worth a hill of beans!
    31 Dec 2012, 10:00 PM Reply Like
  •  
    I personally fight the fed as rarely as possible.
    1 Jan, 03:15 AM Reply Like
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