Pimco Says U.S. Must Buoy Asset Prices for Recovery

Bloomberg reports:

Policy makers must stop declines in asset prices to revive the U.S. economy in 2010 and curb rising unemployment, according to Bill Gross, co-chief investment officer of Pacific Investment Management Co., the world’s biggest bond fund.

“You can’t bail out everyone, yet economic recovery is not possible unless certain critical asset sectors are not only reliquefied but rejuvenated in price,” Gross wrote in his February investment outlook posted today on the firm’s Web site.

Bill Gross promotes his "position".