Jeffrey Gundlach hosted a web presentation this afternoon, sparing no amount of bad wordplay to skewer credit card slogans and borrowers alike. There was a point to the talk—perhaps simply to contradict Dick Cheney’s 2002 assertion that “Reagan proved that deficits don’t matter”—but we were caught up in Gundlach’s masterful roiling of the sloganeers that we sort of missed it. A sampling:
“What they were really saying was “people were choosing Carte Bleu Visa today and throw the future down the drain.”
“Maybe it should be, ‘Long live nightmares.’”
“It’s almost like, the present takes Visa, and it’s going to take you into a lousy future.”
Also to come in for it? Mitt Romney (support for low taxes), Barack Obama (low participation is compressing the unemployment rate), Europeans who dare dream of an alternative to austerity (“there are no more resources to magically stimulate job growth, there’s just more debt”), the Fed (“a place of confusion these days”)…and you get the point. If this sounds like your cup of tea, you might want to pencil July 10 into your calendar, as Gundlach will be discussing his multi-asset growth fund.