Pimco’s Keynesian Fool Returns—-Blithering About Minsky Moments And Free Money Forever

David Stockman reports:

The single most dangerous meme now extant among the Cool-Aid drinkers is that we already had something called the Minsky Moment in 2008—so six years on its still too early for another. Fittingly, CNBC trotted out one of Pimco’s retired bond peddlers, Paul McCulley, to explain this, and why it is therefore safe to load up on bonds. That is, bonds which Bill Gross has already bought and which McCulley now invites the mullets to bid higher.

Where would Bill Gross be without a bailout for Fannie Mae?