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.

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.

Human nature means that institutions at some point lose their sense of mission. That sense of vulnerability drives Pimco.

Bernanke and company are trying to reflate the economy with almost stated objective of inflation at 2 percent and higher in order to provide some type of safety margin for a future recession. That's where they want to go.

Accountants, machinists, medical technicians, even software writers that write the software for 'machines' are being displaced without upscaled replacement jobs. Retrain, rehire into higher paying and value-added jobs? That may be the political myth of the modern era. There aren't enough of those jobs.

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.

Both from the standpoint of stocks and bonds, an investor wants to go where the growth is.

Companies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.

Ex-Fidelity mutual fund manager Peter Lynch was certainly brilliant in one respect: he knew to get out when the gettin' was good.

Favouring employment versus the financial markets is a decent policy; certainly not beneficial for the currency or the gilt market, but beneficial for the people.

I am tough but I have a soft side.

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

If financial assets no longer work for you at a rate far and above the rate of true wealth creation, then you must work longer for your money.

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.

In questioning initially whether I am a great investor, I open the door to question whether other similarly esteemed public icons like Bill Miller are as well. It seems, perhaps, that the longer and longer you keep at it in this business the more and more time you have to expose your Achilles heel - wherever and whatever that might be.

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

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.

It's sort of like a teeter-totter; when interest rates go down, prices go up.

My clients don't pay me to feel sorry; they pay me to bring them money. I am tough, but I have a soft side.

Obama/Romney, Romney/Obama - the most important election of our lifetime? Fact is they're all the same - bought and paid for with the same money. Ours is a country of the SuperPAC, by the SuperPAC, and for the SuperPAC.

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

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.

Well, I, you know, I think at PIMCO we always try and be open with the press and the public. I mean, isn't that what voters want from their politicians? Mohamed El-Erian, our CEO, writes several op-eds a week.

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.

When does money run out of time? The countdown begins when investable assets pose too much risk for too little return; when lenders desert credit markets for other alternatives such as cash or real assets.

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

Whether a tops-down or bottoms-up investor in bonds, stocks, or private equity, the standard analysis tends to judge an investor or his firm on the basis of how the bullish or bearish aspects of the cycle were managed.

When does money run out of time The countdown begins when investable assets pose too much risk for too little return when lenders desert credit markets for other alternatives such as cash or real assets.

Working-class Americans have waited too long, close to a decade in fact, for an increase in the minimum wage. This has been the second longest period without a pay raise since the Federal minimum wage law was first enacted in 1938.

And so, my fellow Americans, ask not what your country can do for you; ask what you can do for your country.

Americans seem sometimes to believe that if you are a thinker you must be a frowning bore, because thinking is so damn serious.

Americans are big boys. You can talk them into almost anything. Just sit with them for half an hour over a bottle of whiskey and be a nice guy.

Alabama citizens, like the vast majority of Americans, respect and value the meaning of decency, and appreciate public institutions that reflect the common values of our society.

People are stunned to hear that one company has data files on 185 million Americans.

Native Americans are the original inhabitants of the land that now constitutes the United States. They have helped develop the fundamental principles of freedom of speech and separation of powers that form the foundation of the United States Government.

I understand about this idea of terror and what it means to Americans and this idea that we can't just walk around free like we did; life has changed.

I mean, the reality is unemployment today - over 14 million Americans are unemployed. That's exactly what it was a year ago. I mean, this - the American people know we can't borrow and spend and bail our way back to a growing economy.

There seems to be this sense among even well-meaning Americans that Africa is this black hole of murder and mutilation that can never be fixed, no matter what aid is brought in.

Currently, not only are Americans taxed on what they earn, but those assets are taxed again when they are passed on to a loved one.

In 2001, Congress passed much needed tax relief to allow Americans to keep more of their hard earned money and spend it as they see fit - rather than how the federal government sees fit.

Most Americans approach the problems of the Middle East with a pro-Israeli bias - and rightly so.

Backward is just not a natural direction for Americans to look - historical ignorance remains a national characteristic.

In the United States, there one feels free... Except from the Americans - but every pearl has its oyster.

Americans admire a people who can scratch a desert and produce a garden. The Israelis have shown qualities that Americans identify with: guts, patriotism, idealism, a passion for freedom. I have seen it. I know. I believe that.

I know that we're being inexorably taken over by the Americans. Without a doubt. I don't mean invaded or anything like that, just taken over. By degrees.

The English are polite by telling lies. The Americans are polite by telling the truth.

The poorest residents of the gulf coast were most affected by the devastating hurricanes, and the poorest Americans have shouldered a disproportionate share of the burden in Iraq.

The way Americans understand and treat other peoples almost guarantees that the world will suffer more trouble.

I'm not sure Americans are hesitant to do this again - to fight another war, because it looked to them like a courageous and terrific endeavor.