Gross Talks Deleveraging, Deficits, and the New Normal

In Consuelo Mack’s latest WealthTrack interview, PIMCO’s Bill Gross talks about the “New Normal” he envisions for the economy and investing world. Gross says that deleveraging and the need for big numbers of Baby Boomers to save as they reach retirement will be drags on the economy for some time. He says he’s not in the “old Roubini camp” — referring to Nouriel Roubini, the economist known as “Dr. Doom” — and that he doesn’t expect disaster for the U.S. But he says growth will be slower than what we’ve been used to, and he offers his tips for how to succeed in that kind of environment.