I worked for a Bill Gross company years ago, though I never had any contact with him. In the mode of the disappointed father, Gross revealed in his latest investment letter outrage over America’s ridiculous choice of Donald Trump for President, not so much because Bull Connor as a condo salesman is a hideous person, but because of the damage he’ll do to the very working-class folks who elected him. Gross is right, of course, and it’s commendable that such a rich person is so concerned about wealth inequality, though maybe he shouldn’t complain too loudly since he’s one of those geniuses who knew better but didn’t vote for either of the two major-party candidates in what was clearly a stop-the-maniac-election. 

From the Financial Times:

Donald’s Trump’s arrival in the White House will hit the low-earning and jobless Americans who voted the Republican into office, Janus Capital’s Bill Gross has said, revealing that he did not vote for either Republican or Democratic nominee in the US presidential election.

In his latest investment outlook, Mr Gross poured cold water on the notion that Mr Trump’s economic policies would revive growth and jobs for the poorest Americans, arguing his pledges to cut taxes and increase defence spending were an extension of “Wall Street versus Main Street” economic policies.

“I write in amazed, almost amused bewilderment at what American voters have done to themselves” said Mr Gross.

“[Trump’s] policies of greater defense and infrastructure spending combined with lower corporate taxes to invigorate the private sector continue to favor capital versus labor, markets versus wages, and is a continuation of the status quo”, he added.•