...We need the visionary Newt model. Energy=JOBS.
There is recognition that "the New Normal" properly characterizes today's era, meaning we are bending the mean down in the aftermath of Lehman 2008 while our markets supposedly embark on a semi-permanent deleveraging process. This strikes me as too anodyne a term to describe a decade-long period of slow growth and near-zero interest rate on savings accounts. Bill Gross of PIMCO is asking investors to consider using the metaphor Paranormal, in reference to a universe in which no amount of liquidity makes lenders want to lend, and no one can afford to save.