In 2009, when the greatest recession since the Great Depression was still new news, the famous bond manager, Bill Gross, coined a term to describe the near-term future of the world economy. He predicted we would enter an era he called, "The New Normal," in which the economic growth rate would be slower.
Anyone who's been diagnosed with cancer, or has experienced another life-changing event, faces her own era of a New Normal.
 |
| Bill Gross, Co-chief Investment Officer of PIMCO, deep in contemplation |
So far, his prediction has come true. The world economy has yet to stomp on the accelerator peddle. Recent headlines include concerns over Greece's and Italy's solvency, the U.S.'s debate over raising its debt ceiling, and a jump in U.S. unemployment. At some point, this bumpy country lane should converge with a highway, and we will accelerate past Gross's New Normal.
Anyone who's been diagnosed with cancer, or has experienced another life-changing event, faces her own era of a New Normal.
