Bill Gross

“Bond investors want growth much like equity investors, and to the extent that too much austerity leads to recession or stagnation then credit spreads widen out - even if a country can print its own currency and write its own cheques.”

“In terms of economic growth, PIMCO originated the famous phrase the 'new normal.'”

“Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.”

“I would admit I'm an introvert. I don't know why introverts have to apologize.”

“I always thought of myself as being part of a family and sharing and, yes, leading, but not forcing people to do anything.”

“Whenever I read the newspaper, I say to myself, 'At least my wife loves me.'”

“Imperceptibly, the developed world's manufacturing base was gradually eroding and being replaced by securitized finance that destroyed itself and nearly its economies in 2008.”

“The U.K. and almost all of Europe have erred in terms of believing that austerity, fiscal austerity in the short term, is the way to produce real growth. It is not. You've got to spend money.”

“Americans now know that housing prices can go down and they can go down by 10, 20, 30, and in some cases, 40 or 50 percent. We know they can go down. But five years ago, we thought they could only go up.”

“I am tough but I have a soft side.”

“What the Obama administration's policies have really been oriented towards have always been towards providing benefits continuing consumption. What this country needs really is a policy which stresses investments.”

“It's going to be difficult to stimulate the real economy in the U.S. at a faster rate than 2 percent and perhaps even less if we have that fiscal cliff in December or January 2013.”