Paul McCulley was the no 2 to Bill Gross at PIMCO the largest fixed income manager around. Since then he has retired twice but gave this interview to WealthTrack.
The way to approach this video is to gain a perspective of how these guys, who manage a huge ton of money, where they need to read the macro situation to a certain degree, explain this current situation.
In it Paul explains the few solutions in a liquidity trap like the USA, what is the short coming of it, what the FED is trying to do, the valuation of the various asset classes (stocks, bonds and cash), the USD and the few ways this can play out.
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