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Bloomberg.

With the phrase financial repression, that is a good security here.

And to William Gross, the world would stop when he worked at PIMCO for a monthly

newsletter. He has been in a kind retirement where his golf game, his I believe

reports have it has improved, but we're thrilled that Bill Gross would

Join us today and here is why the new normal is one of the great calls of the decade

There's Steve Major at HSBC Gary Schilling with its call on

deflation and disinflation and then there was gross in allerian in the new normal.

Bill if you look back over 10 years to the advent of the new normal, now you've got a pandemic overlay.

Do we escape your new normal at any point? Oh, I think we began to escape it and perhaps we will continue to do so.

You know, the new normal was based on a slower economy,

lower inflation, it incorporated globalization,

to some extent demographics I think that demographic influence continues

...