PIMCO Releases 2012 Economic Forecasts; Presenting The Wall Street 2011 Market Forecast Track Record

Submitted by Tyler Durden on 12/22/2011 - 10:42 Bill Gross China European Central Bank Eurozone Global Economy PIMCO

Here are the just released 2012 forecasts by Bill Gross, via Bloomberg and the WSJ:

• PIMCO SEES RISK-OFF PHASE IN FIRST PART OF 2012, EL-ERIAN SAYS
• PIMCO: U.S. TO GROW BETWEEN 0% AND 1 % IN 2012
• PIMCO SEES GLOBAL ECONOMY GROWING 1.0%-1.5% IN 2012
• PIMCO SEES CHINA GROWING 7% IN 2012
• PIMCO SAYS EUROZONE ECONOMY CANNOT HANDLE SOVEREIGN AND BANKING DELEVERAGING AT THE SAME TIME
• PIMCO SAYS ECB MUST BECOME LENDER OF LAST RESORT

Of course, Jim Cramer's response is to ignore this forecast and instead to listen only to "hot hand" analysts who have been correct in the recent past.