2010 will bring problems for the US Economy
Credit, Credit Crunch, The Economy, Real Estate October 6th, 2009
That’s basically what Pimco’s Mohamed El-Erian told CNBC Tuesday.
“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.
